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UAV (Drone) Market worth $48.5 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, May 8, 2024 /PRNewswire/ — The UAV (Drone) market is estimated to be USD 30.2 billion in 2024 and is projected to reach USD 48.5 billion by 2029, at a CAGR of 9.9% from 2024 to 2029 according to a new report by MarketsandMarkets™. The primary impetus for the expansion of the Unmanned Aerial Vehicle (UAV) market stems from robust business demand and rapid technological innovation. Key factors include the adaptation of UAVs for enterprise solutions, such as inventory management and precision agriculture, coupled with significant advancements in robotics and telemetry. The development of regulatory frameworks that facilitate commercial UAV operations has enabled broader adoption, enhancing market penetration. Additionally, the integration of UAVs with next-generation wireless technologies, such as 5G, is catalyzing new use cases in logistics and urban mobility, further driving market growth.

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Browse in-depth TOC on “UAV (Drone) Market” 
502 – Tables106 – Figures463 – Pages
UAV (Drone) Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 30.2 billion
Estimated Value by 2029
$ 48.5 billion
Growth Rate
Poised to grow at a CAGR of 9.9%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Type, Platform, Point of Sale, Systems, Function, Industry, Application, Mode of Operation, MTOW, Range and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Use of UAVs in criminal activities
Key Market Opportunities
Use of UAVs for cargo delivery in military operations
Key Market Drivers
Increasing usage in civil and commercial applications
By Operation Mode, the Fully Autonomous segment is projected to grow at the highest CAGR during the forecast period.
The Fully Autonomous segment of the UAV (Drone) market is segment of the Unmanned Aerial Vehicle (UAV) market is projected to exhibit the highest CAGR. This anticipated growth is primarily attributed to technological advancements in autonomous navigation systems, which enable UAVs to operate without human intervention. These advancements are critical for expanding UAV applications in commercial, military, and recreational sectors, thereby driving the market expansion of fully autonomous UAVs.
By Range, the UAV (Drone) market for the BVLOS segment is projected to grow at the highest CAGR during the forecast period.
The BVLOS segment of the UAV (Drone) market is projected to exhibit the highest (CAGR). This growth is primarily attributed to advancements in UAV capabilities that enable extended operational range. These improvements facilitate a broader range of applications, including long-distance monitoring and automated deliveries, thereby driving market expansion. This segment’s growth underscores the increasing demand for UAVs capable of executing missions over distances beyond the operator’s direct visual range, highlighting a significant shift towards more versatile and autonomous UAV operations.
By System, Platform segment for the UAV (Drone) market is to hold the largest market share.
The Platform segment within the UAV (Drone) market is projected to dominate in terms of market share. This preeminence is primarily attributed to key operational enhancements within the segment that significantly contribute to the overall expansion of the UAV sector. The substantial market share of the Platform segment underscores its critical role in advancing UAV capabilities, thereby driving the sector’s growth through technological innovation and the integration of advanced system functionalities.
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North America holds the highest rate share in the region for the UAV (Drone) market.
The North America segment of the UAV (Drone) industry is forecasted to secure a dominant market share by 2024. This leadership position is primarily driven by robust technological advancements, extensive military spending, and the early adoption of UAVs across various sectors including agriculture, real estate, and emergency response. Furthermore, the presence of key market players and startups in the region, coupled with favorable regulatory frameworks, significantly enhances the development and deployment of UAV technologies. Additionally, ongoing initiatives to integrate UAVs into national airspace and expanding applications in commercial enterprises support the sustained growth and innovation in the North American UAV market. This confluence of factors positions North America at the forefront of the UAV industry, ensuring its market prominence and ongoing expansion.
Key Players
The UAV (Drone) companies is dominated by a few key players such as General Atomics Aeronautical Systems, Inc. (GA-ASI) (US), Northrop Grumman Corporation (US), Elbit Systems Ltd. (Israel), Israel Aerospace Industries Ltd. (Israel), SZ DJI Technology Co., Ltd. (China), AeroVironment, Inc. (US), Lockheed Martin Corporation (US), Thales Group (France), Aeronautics Ltd. (Israel), etc and several others.
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Browse Adjacent Market: Aerospace and Defence Market Research Reports & Consulting
Related Reports: 
Drone Logistics and Transportation Market by Platform (Freight, Passenger, Ambulance Drones), Application (Logistics, Transportation), Solution (Hardware, Software, Infrastructure), User, Range, and Region – Global Forecast to 2030
Drone Software Market by Solution (Application, System), Platform (Defense & Government, Commercial, Consumer, Architecture (Open Source, Closed Source), Deployment (Onboard Drone, Ground-Based), and Region- Global Forecast to 2027
Urban Air Mobility Market by Mobility Type (Air Taxi, Personal Air Vehicle, Cargo Air Vehicle, Air Ambulance & Medical Emergency Vehicles, Air Shuttles & Air Metros), Solution, Platform Operation, Range, Platform Architecture, End User, and Region- Global Forecast to 2030
Drone Package Delivery Market by Solution (Platform, Infrastructure, Software, Service), Type (Fixed-Wing, Multirotor, Hybrid), Range (Short 25 Km), Package Size, Duration, End Use, Operation Mode, and Region – Global Forecast to 2030
Drone Simulator Market by Application (Commercial, Military), Component (Software, Hardware), Device Type (Augmented Reality, Virtual Reality), Drone Type (Fixed Wing, Rotary Wing), System Type, and Region – Global Forecast to 2027
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Aashish MehraMarketsandMarkets™ INC. 630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/unmanned-aerial-vehicles-uav-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/unmanned-aerial-vehicles-uav.asp
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Optellum showcases AI for precision lung cancer treatment at ASCO 2024

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OXFORD, United Kingdom, May 30, 2024 /PRNewswire/ — Optellum, a global leader in AI-driven clinical decision support for early lung cancer diagnosis, has launched its multimodal therapy AI guidance platform for life science research. The novel AI software and scientific results, showing potential to optimize curative lung cancer treatment, will be showcased for the first time at the 2024 ASCO Annual Meeting in Chicago (31 May—4 June).

Lung cancer often shows no symptoms until it reaches an advanced stage, leaving patients with limited treatment options and less favorable outcomes. However, by continuous automated analysis of the 90 million CT scans US patients receive yearly, it may be possible to create an “early detection system”. Optellum Virtual Nodule Clinic, the first FDA-cleared decision support for early-stage lung cancer, integrates a Patient Discovery AI based on Natural Language Processing with a clinically validated Lung Cancer Prediction (LCP) score based on imaging AI/Radiomics. The combination assists clinicians in identifying at-risk patients across health systems and prioritizing them for follow-up interventions.
Early diagnosis offers patients curative treatment options. Unfortunately, some 30% to 60% of Stage I-II NSCLC patients will experience recurrence after surgery. Accurate prognosis of recurrence risk could enable thoracic oncology teams to optimize treatment early, for example, to tailor the extent of surgical resection and ensure neo-adjuvant and peri-operative treatments are offered to those at risk. To drug developers, it may enable risk-stratifying populations to increase treatment rates, expand indications to earlier stages, and predict treatment response.
Optellum will showcase their precision lung cancer care AI solutions at the American Society for Clinical Oncology (ASCO) 2024 Annual Meeting. In the ASCO scientific program (Poster Session, 3rd June, 1:30 pm), Optellum’s clinical partners will present results of AI-guided recurrence prognosis in Stage I-III NSCLC from multi-modal pre-surgical data (Abstract #8066 1) showing significantly increased sensitivity for recurrence compared to staging. The Optellum AI solutions will also be demoed at the CancerLinQ booth (#14013) and ConcertAI booth (#12045).
Christine D. Berg, M.D., the co-principal investigator of the National Lung Screening Trial (NLST) at the National Cancer Institute, which paved the way for lung cancer screening implementation, commented: “The accurate determination of prognosis drives treatment decisions in oncology. Radiomic tools combined with demographics, as shown by Optellum, can be an effective non-invasive technology to optimize decision making early in the patient’s journey, which may help to improve outcomes.”
“Our multi-modal AI platform aims to become the ‘operating system’ that guides precision lung cancer care across the patient journey, from early identification to predicting response and monitoring,” said Václav Potěšil, PhD, Founder & Chief Business Officer at Optellum. “Neo-adjuvant therapies are real game changers. Together with our medtech and biopharma partners, we leverage the power of AI to help democratize access to life-saving early diagnosis and precision treatment for every patient who can benefit.”
Learn more here.
About OptellumOptellum is a commercial-stage lung health company providing artificial intelligence decision-support software that assists physicians in early diagnosis and optimal treatment for their patients. The company was founded so that every lung disease patient is diagnosed and treated at the earliest possible stage when the probability of better health outcomes is highest. The Oxford-based medtech company has been the first to achieve FDA 510(k) clearance and reimbursability for US Medicare patients under CMS New Technology APC for the application of AI decision-support software in lung cancer diagnosis. It has since announced strategic partnerships with industry leaders, including GE Healthcare, Johnson & Johnson, and many other top biopharma and medtech companies, while Virtual Nodule Clinic has been implemented in healthcare systems across the USA and Europe. Optellum has headquarters at the Oxford Centre for Innovation in Oxford, UK, and a US office at the Texas Medical Center. For more information, visit optellum.com or follow us on LinkedIn.
Media Contact
Optellum Communications | [email protected]
1 Pre- and post-operative lung cancer recurrence prediction following curative surgery: A retrospective study using European radiomics and clinical data. Ann Valter, Tanel Kordemets, Aydan Gasimova, Noah Waterfield Price, Lutz Freitag, Anil Vachani, David Paul Carbone, Kersti Oselin, https://meetings.asco.org/abstracts-presentations/239181
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Element Biosciences to Showcase Sequencing Innovations at the European Human Genetics Conference

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Customers laud the positive impact of AVITI on advancing their scientific research
SAN DIEGO, May 30, 2024 /PRNewswire/ — Element Biosciences, Inc., developer of pioneering technologies to empower science, will showcase the rapidly growing use of its AVITI™ System sequencer across the European scientific community at the European Human Genetics Conference 2024 in Berlin, Germany, on June 1.  

During ESHG 2024, which runs from June 1-4, Element Biosciences’ Chief Technology Officer and Co-Founder Michael Previte will share the latest details on the AVITI24™, the first platform to combine state-of-the-art sequencing and multiomic cell analysis in one integrated biology tool.  The AVITI24 enables the simultaneous measurement of multiple analytes, including DNA, RNA, proteins, phosphorylated proteins, and morphology, in up to one million cells per flow cell.
“At ESHG, we’re excited to show the transformative power of AVITI and highlight how we’re advancing our mission to increase access to high-quality, affordable tools for complex biological research through AVITI24,” said Previte.
The AVITI System is expanding access to faster, more efficient and innovative sequencing for European scientific labs, with Element’s technologies now being used by researchers in most countries in Europe. With its AVITI24 open for preorders, Element also announced that existing customers are prebooking ahead of shipment, including the National Genomics Infrastructure (NGI) at SciLifeLab, a world-leading Swedish national center for large-scale research and one of the largest molecular biology research infrastructures in Europe.
“As part of the National Genomics Infrastructure, we’re committed to staying at the forefront of technology,” said Robert Månsson Welinder, Head of Strategic Relations at NGI. “Element’s AVITI24 will help us push this frontier and allow our scientific community to pursue new and exciting science.”
Leading European scientists emphasized the positive impact the AVITI has had on advancing their scientific research. Igor Fijalkowski, researcher at the Center for Medical Genetics at Ghent University in Belgium, noted the ease of adoption and flexibility of the platform saying “Over the last year or so we performed more than 100 runs of AVITI sequencing and overall, across multiple applications, the sequencing quality has been excellent. The transition was frictionless, so we are very happy with the way the sequencer has been performing.”
Several other researchers noted the cost-effectiveness, high quality, and flexibility of the AVITI platform. “Since the installation of our AVITI we have been blown away by its flexibility and quality outputs,” said Megan Hamilton, Genomics Facility Manager at the Babraham Institute in Cambridge, United Kingdom. Petri Auvinen, Research Director at the Institute of Biotechnology, University of Helsinki, Finland, said “AVITI seems to be the most efficient and most legitimate system to run a new chemistry for sequencing.”
Others called out the unique features of the AVITI not available on other platforms. “The cost-effectiveness of AVITI adds to its high sequencing quality of Q40-50, which makes it an important device in the future of cancer research,” said Romain Boidot, molecular biologist at the Georges-François Leclerc Center, France. Also in France, Charles Poncet, lab manager at INRAE, said “We chose AVITI for its combination of performance, price of the instrument and reagents, flexibility, and applications. We also had the chance to test AVITI with our wheat samples and the results were excellent, especially for an organism with such complex genetics.”
Two years after launching AVITI, the sequencer that provides the highest quality sequencing on a benchtop, Element has continued to innovate on its modular platform. It has introduced faster run times, expanded kit offerings, the Elembio Cloud software platform, and industry-leading affordability, while maintaining unprecedented accuracy.
About Element Biosciences, Inc.
Element Biosciences is a pioneering life science company democratizing access to advanced biological tools, driving impactful discoveries to benefit humanity. We are focused on developing disruptive DNA sequencing and multi-omics technology for research markets. Through innovating every fundamental element of a biological assay system, Element empowers customers with affordable, high-quality data and an improved user experience, which in turn will accelerate scientific discoveries. To learn more about Element, please visit www.elementbiosciences.com and follow us on LinkedIn, X (Twitter), and Facebook.
Media Contact:Kristi HeimElement [email protected]
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St. Pölten UAS: Networking Meeting of the Higher Education Area

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St. Pölten UAS Hosts 33rd EURASHE Annual Conference
Every year, the European Association of Institutions in Higher Education (EURASHE) brings together representatives of the higher education sector in order to discuss and design a common path in important matters for the present and future of education. This year’s meeting was held at the St. Pölten University of Applied Sciences. The focus of the event was on transnational collaborations between higher education institutions and on cooperation with the business world and society. More than 200 experts from all over Europe, Africa, Asia, and the Middle East took part.
ST. PÖLTEN, Austria, May 30, 2024 /PRNewswire/ — EURASHE, the European Association of Institutions in Higher Education, features approximately 600 universities, universities of applied sciences, university colleges, and similar institutions that conduct primarily professional higher education and applied research.

 
Important Voice in the European Higher Education Area”In order to come up with solutions to the diverse challenges of our times, it is necessary for us to integrate the knowledge and experiences of various fields and to further develop our creativity. In most cases, individual higher education institutions can generate only little impact unless they pool their forces. Therefore, international partnerships and university alliances are decisive for future-oriented development”, emphasises St. Pölten UAS CEO Hannes Raffaseder who is the current President of EURASHE. St. Pölten UAS is also the coordinator of the European University Alliance E³UDRES².
„Regarding higher education institutions it’s important that we have a diversity of voices in Europe and EURASHE is a very important voice for the universities of applied sciences. They bring in a different perspective. Typically they are very rooted in the local or regional context. They are close to the labour market and they are very innovative. So we need EURASHE to bring in their perspective and come up with new ideas on how we can make transnational cooperation work better at European level”, says Sophia Eriksson Watershoot, Director for Youth, Education and  Erasmus+ from the European Commission.
“I am happy to have our conference here in St. Pölten. The conference is different each year, and that is what makes EURASHE conferences so interesting. Here at this new campus, people get a feel of how fast changing this sector is. And we had a great diversity of people at the conference this year including guests from all around the world like North America, Asia, and the Middle East”, says John Edwards, Secretary General of EURASHE.
33rd EURASHE Annual Conferencehttps://www.eurashe.eu/events/annual-conference-2024https://www.eurashe.eu
Contact:Mark [email protected]+43 2742 313 228 ext. 269
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