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Drone Market Estimated to be Valued at US$ 279 Billion By 2032

Sept. 9, 2022

According to Fact.MR's latest analysis, the drone industry is predicted to develop at a CAGR of 25% between 2022 and 2032, anticipated to reach US$ 279 billion. Drone technology aimed at supplying precision-based, guided weapons is causing important advancements in the defense sector, and is likely to be the backbone of global market growth.

From 2017 to 2021, the industry experienced an impressive incline at a CAGR of 23.5%. During the COVID-19 pandemic, prospects dimmed across certain sectors, including manufacturing and hospitality, while deployment for general surveillance purposes, especially to check whether individuals adhered to lockdown norms, increased dramatically.

The fatal mix of stealth capabilities and enhanced video imagery is providing developed-country militaries with drones capable of wreaking considerable harm on enemy territory. Emerging nations and war-torn areas, such as Syria, are innovating and employing cost-cutting techniques, such as the employment of cheap, commercial quadcopters outfitted with improvised and low-intensity explosives in their military operations.

Source: https://www.factmr.com/report/62/drone-market?utm_source=monika 

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