North American UAV market to hit $6.8B by 2019

The North American UAV market will reach $6.8 billion by 2019, according to a forecast by market research firm MicroMarketMonitor. This reflects a compound annual growth rate of 7.7 percent.

Military UAVs will account for 67 percent of the market. "Driving factors such as the increase in UAV demand for military applications and increasing use for civil and commercial applications are boosting the UAV market worldwide," the report said. "Growth in this market will continue to depend largely on UAV defense expenditure as defense forces are the major end users. The strategic UAV market size is estimated to be the largest throughout the forecast period from 2014 to 2019 compared to other class types."

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