Commercial drone market to reach 2.91 million units by 2023 according to latest report by Frost & Sullivan

Frost & Sullivan’s latest market analysis, Global Commercial UAS Market Outlook, 2020, finds that the industry is transitioning from a nascent to a growth stage. With the surge in demand for commercial drones by the professional segment, unit shipment is estimated to rise at a compound annual growth rate (CAGR) of 4.5%, reaching 2.91 million units by 2023 from 2.44 million units in 2019. By 2023, North America will remain the largest market for commercial UAS with a total of 32.3% unit demand, followed by APAC and Europe at 29.1% and 23.3%, respectively.

Advanced technologies such as artificial intelligence (AI) for both autonomous flight and data processing, as well as platforms that have unique capabilities such as long endurance flights and conducting indoor/confined spaces inspections, are key trends inflating market growth.

(Image: Frost & Sullivan, Getty Images)

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