Unmanned-systems software market to grow by 5% yearly to 2029, study saysNews
January 24, 2022
AMSTERDAM. The global market for unmanned aerial vehicle (UAV) software -- which had a market value of $3.48 billion in the year 2021 -- is projected to experience a combined annual growth rate (CAGR) of 5% in the next several years, according to a new market study by Market Forecast, "UAV Software -- Market and Technology Forecast to 2029."
According to the study authors, now that cloud-based software is accessible, UAV operators may broaden their range of UAV uses, with control and management of drone operation often managed with a single click. Such software also enables on-demand and scheduled missions, real-time data processing, and on-the-spot decision-making.
The study authors project that North America is expected to continue to be the biggest market for UAV software, with a value of $1.73 billion in 2029. By region, the Asia-Pacific region is expected to be the fastest-growing segment, with a CAGR of 6.3% over the forecast period, largely owing to increased investment in the military-modernization programs in the defense sector of countries in this region, plus rising use of UAVs for commercial and civil applications.
For additional information, visit the Market Forecast website.