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Drones Could Grow to $11 Billion Industry by 2024

Christiaan Cloete

A U.S. Air Force MQ-1 Predator flies near the Southern California Logistics Airport in Victorville, Calififornia, on Jan. 7, 2012. (Credit: U.S. Air Force photo by Tech. Sgt. Effrain Lopez/Released)

A U.S. Air Force MQ-1 Predator flies near the Southern California Logistics Airport in Victorville, Calififornia, on Jan. 7, 2012. (Credit: U.S. Air Force photo by Tech. Sgt. Effrain Lopez/Released)

According to an annual market study run by analysts at the Teal Group, drones used for nonmilitary purposes make up roughly 11 percent of all drone technologies being developed and produced for civilian uses, only a small portion of today's UAV market. Analysts expect this to grow to at least 14 percent by the end of the decade.

The report breaks down the civilian drone market into three categories: Government UAVs, Commercial UAVs and Hobbyist UAVs.

Source: LiveScience

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