The global UAV market is expected to grow at a compound annual growth rate of 18 percent between 2014 and 2018, according to a forecast by market research firm ReportsnReports.
"Small electric powered UAVs are primarily used for military and defense applications, and are driven by electric motors," the forecast noted. "Without combustion, these electric powered UAVs are quiet and found more suitable for spy missions. Also, there has been an increase in interest for commercial applications of UAVs like aerial photography, agriculture, 3D mapping, wildlife protection, etc."
The U.S. will lead the market, though demand will rise in the Middle East and Asia, including Israel, Russia, the UK, France, Italy, and China.
