North America at the Forefront of the Autonomous BVLOS Drone Market

The global autonomous BVLOS drone market was valued at $18.87 billion in 2018 and is expected to reach $34.65billion in 2029 at a CAGR 5.94% during the forecast period 2019-2029.

The autonomous BVLOS drone market has witnessed various forms of market dynamics across different regions of the globe. Also, the drone manufacturing companies have recently witnessed a rising demand from countries such the U.K., India, Italy, Germany, and others. The following figure represents the global autonomous BVLOS drone market by region. It includes North America, Europe, Asia-Pacific, and Rest-of-the-World.

North America dominated the BVLOS drone market. Its total market size was valued at $13.52 billion in 2018 and is projected to reach $23.34 billion by 2029, registering a CAGR of 5.30% during the period 2019-2029. This is due to a large number of military and defense UAVs procurement by the U.S. government. As of now, the U.S. have largest number of military drones. In commercial applications, the companies have to take waiver from aviation authority to fly drones in BVLOS. In U.S., some companies such as Airobotics and Flirtey got waiver from FAA to operate flight in BVLOS range. The U.S. is currently one of the prominent countries in the world and recorded the highest market revenue in 2018 and moreover, is expected to cross value in billion by 2029.

Competitive Landscape

The prominent players in the autonomous BVLOS drone market have adopted key strategies of product launches, contracts, mergers, and acquisitions to expand their business. The companies are also involved in some of the other developments that include demonstration, integration, and business expansion, among others. Also, the funding scenario in the drone market is quite noteworthy. Most of the funding is likely to come from sources such as seed money from the public sectors, investors, and companies with adequate cash reserves that are committed to drive the market and are willing to invest. Numerous investments have taken place in the recent past in the drone space, which shows a significant degree of interest of industry leaders in this market.

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