New market report says UAS sector will reach USD48.5 billion by 2029

A new report from Markets and Markets says the uncrewed aerial systems (UAS) market is estimated to be USD30.2 billion in 2024 and is projected to reach USD48.5 billion by 2029, at a CAGR of 9.9% from 2024 to 2029. 

The global forecast says primary impetus for the expansion of the market stems from “robust business demand and rapid technological innovation”. Key factors include the adaptation of UAS for enterprise solutions, such as inventory management and precision agriculture, coupled with significant advancements in robotics and telemetry. 

Markets and Markets lists several major players in its report, including General Atomics Aeronautical Systems, Northrop Grumman, Elbit Systems, Israel Aerospace Industries, SZ DJI Technology, and AeroVironment.

The report notes that the beyond visual line of sight (BVLOS) segment is projected to exhibit the highest (CAGR). “This growth is primarily attributed to advancements in UAS capabilities that enable extended operational range. These improvements facilitate a broader range of applications, including long-distance monitoring and automated deliveries, thereby driving market expansion. This segment’s growth underscores the increasing demand for UAVs capable of executing missions over distances beyond the operator’s direct visual range, highlighting a significant shift towards more versatile and autonomous UAV operations.”

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Markets and Markets

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