Multirotor UAV market to surpass $2 billion

The multirotor UAV market will reach $2.3 billion by 2020, according to a forecast by market research firm ASDReports. This reflects a compound annual growth rate of 22.2 percent from today's $840.2 million market.

India, South Korea, China, Germany, France and Australia are the new growth regions in the market, according to the report. Those nations have made high investments in research and development.

"The market demand for business and commerce applications are estimated to overtake the homeland security applications' market by 2020," the report also noted.

Major manufacturers of multirotor drones include AeroVironment, Israel Aerospace Industries, DJI Innovations (China), 3D Robotics and Microdrones GMBH.

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