The global UAV market is estimated to be valued at US$ 40813.79 Mn in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the Unmanned Aerial Vehicle market are Guangdong Guanhao High-Tech, Hansol Paper Co., Ltd., Sappi Group, Neenah Coldenhove, Ahlstrom-Munksj, The Felix Schoeller Group, Beaver Paper & Graphic Media Inc., Jiangyin Allnice Digital Technology, Seiko Epson Corporation, B.N Papeis. The companies are actively working towards expanding their product portfolios and capabilities through acquisitions, collaborations, and development of technologically advanced UAVs suitable for various applications.

The Unmanned Aerial Vehicle Market Growth across industries like agriculture, infrastructure surveillance, public safety, oil & gas is expected to fuel the market growth during the forecast period. Their ability to access hazardous areas and capture real-time data and imagery securely and efficiently is accelerating their adoption.

The liberalization of regulations for commercial use of UAVs in different parts of the world is supporting the growth of the global Unmanned Aerial Vehicle market. Growing investments by various governments and major players to develop advanced capabilities are enabling global expansion of the UAV market.

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