Projected To Reach $5.81 Billion By 2023
The airborne surveillance market is expected to be worth $4.42 billion in 2017, and is expected to reach $5.81 billion by 2023, at a CAGR (Compound Annual Growth Rate) of 4.7% during the forecast period, according to a new report from Reportlinker.com. Rapid technological advancements, Internet of Things (IoT), amendments in laws, the growing demand for UAVs in commercial application, and the availability of low-cost UAVs are some of the driving factors for the airborne surveillance market, while air traffic management poses a challenge for this market.