"Civil UAS market will grow from USD5 billion in 2020 to USD18.4 billion in 2029” – Teal

Civil Unmanned Aerial Systems (UAS) will be the most dynamic growth sector of the world aerospace industry this decade as commercial applications take off and civil governments adopt systems for new roles in border security and public safety, according to a market study and press release from Teal Group. “The pandemic is reshaping growth in the industry, boosting support for delivery drones while hurting investment in some longer-term applications,” said Philip Finnegan, Teal Group’s director of corporate analysis and author of the study. “On balance, the negatives appear to slightly outweigh the positives.”

According to the company, the goodwill created by delivery of medical items by drone will help speed regulatory approval for wider deployment of drones and has encouraged companies to adopt UAS to do distance inspections of facilities. Yet the pandemic has sharply cut venture capital financing of drone companies, major aerospace companies are cutting investment in next generation systems, and the oil and gas sector is slashing capital spending.