Home News Business Remotely piloted aircraft systems market to reach $26 Bn by 2025: Report

Remotely piloted aircraft systems market to reach $26 Bn by 2025: Report

prospects-for-rpasUS: Prospects of the Remotely Piloted Aircraft Systems (RPAS) are expected to go sky high in the next ten years, according to the latest report of Euroconsult. The report forecasts a growth of $1 billion in 2015 to $26 billion in 2025.

The civil and commercial RPAS market is at an early development stage compare to the military and leisure sectors. Recent improvements in the regulatory context in a number of countries and technological advances have led to an increase in the number of applications using RPAS for commercial purposes, with new applications set to develop in the coming years.

Their combination has led a number of companies to enter the market in search of new opportunities in a sector with strong growth potential and a large addressable market.

Agriculture was estimated to be the largest user of RPAS in 2015, accounting for 39% of units used, ahead of video & cinema and engineering & transportation infrastructure. Leading regions for the use of UAVs include Asia Pacific, Europe and North America; the commercial RPAS market is still early in the development phase in other regional markets.

Japan has the most mature RPAS market, having begun use in agriculture more than 20 years ago. Other leading commercial RPAS countries include Australia, Canada, France, the U.K. and the U.S.

“The current size of the market is pushing a growing number of companies to make themselves present at various levels of the value chain and provide services targeting multiple markets and applications to increase their audience,” said Dimitri Buchs, Senior Consultant at Euroconsult and editor of the report.

“It has become increasingly common to see companies focusing on both manufacturing and provision of services. Given the current market environment, a number of consolidation processes and failures are expected in the coming years, with leading players expected to emerge at various levels of the value chain.”

Source: EuroConsult