Market Size of Autonomous BVLOS Drones Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.06 Billion |
| Market Size (2029) | USD 3.03 Billion |
| CAGR (2024 - 2029) | 23.26 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Autonomous BVLOS Drones Market Analysis
The Autonomous BVLOS Drones Market size is estimated at USD 1.06 billion in 2024, and is expected to reach USD 3.03 billion by 2029, growing at a CAGR of 23.26% during the forecast period (2024-2029).
- The autonomous BVLOS drone market witnessed unprecedented challenges due to the COVID-19 pandemic. The advancement of the pandemic led to the closing of borders by various countries as well as the implementation of lockdowns. This affected the supply chain and prevented manufacturers from receiving raw materials that were required for the production of autonomous BVLOS drone systems, which ultimately led to a decline in the production of BVLOS drone systems.
- Moreover, with various companies laying off employees, the necessary manpower required for production was affected during the pandemic. On the other hand, the market showed a strong recovery post-COVID owing to increasing demand by various defense forces as well as commercial companies around the world who make use of autonomous BVLOS drone systems to carry out various operations, and this will lead to the autonomous BVLOS drones market witnessing a positive outlook and market growth during the forecast period.
- Drones and unmanned aerial vehicles have experienced dynamic technological advancements over the last few decades. The technological advancement in operating range, capabilities, and size largely paves the way for various growth opportunities for the defense and commercial sectors. Moreover, as the drone operators robustly expand their BVLOS operations to cater to the demand of various end-users, such as commercial and military, a surge in revenues from contractual operations is envisioned to occur for the market players during the forecast period.
