The global Unmanned Aerial Vehicle (UAV) market will achieve a value of $52.3 billion by 2030, according to a recent industry report. In 2022, the sector was worth $24.9 billion, meaning that, between 2023 and 2030, the global UAV industry is predicted to register a compound annual growth rate (CAGR) of 11.2%.

The report, entitled “Unmanned Aerial Vehicle (UAV) Market - Global Industry Assessment & Forecast,” was released by Vantage Market Research on April 20. The study also noted that commercial UAV sales will account for 48% of the market’s total value by 2030. 

The Asia-Pacific (APAC) region is expected to register the fastest rate of growth amongst all qualifying regions in the global UAV market due to the increasing adoption of UAVs in the APAC region’s military sector coupled with a growing demand for UAVs in the commercial industry.

Simultaneously, the North American market is expected to dominate the sector in the coming years thanks to increased research and development efforts amongst prominent drone manufacturers.

The report also found that the fully autonomous technology portion of the UAV industry will experience the fastest rate of growth during the forecast period. Meanwhile, the military segment will account for the largest share of revenue in future years.

The study was segmented into systems used, platforms, types of UAVs, applications, points of sale, end-use, mode of operations, MTOW (maximum takeoff weight), sight range, and region. The base year for the survey was 2022 while the forecast years run from 2023 to 2030.