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Rising demand for drones in military and non-military applications such as agriculture, media & entertainment, oil & gas, insurance, logistics, mining, and construction has enabled the drone market to gain popularity worldwide. Also, the usage of drones in transportation and delivery, aerial spraying, and public space monitoring have increased since the onset of the pandemic, as it facilitates smooth and timely delivery while complying with the social distancing restrictions.
Drones and drone technology are also gaining traction primarily from military operations to gather intel, conduct important missions without risking human life and help detect threats in any environment. The global drones market is expected to grow at 3.9% CAGR and reach $5.44 billion by 2027. So, both GPRO and AVAV are expected to benefit from the industry’s long-term growth prospects.
