Fremont, CA: The amount of technological progress we've seen in the last two decades is mind-boggling. Unmanned aerial vehicles, or drones as they are commonly known, would have seemed like something out of a science fiction novel just 40 years ago. Yet here we are, with fully functional drones that can perform a variety of tasks. Drones have been widely used in military and defense applications, GPS and scouting work, photography, and as a recreational activity, to name a few. Even Amazon has dabbled with the idea of using drones to deliver packages.
This widespread application has given rise to a sizable industry worth nearly $8 billion and is expected to grow to 12 million by the end of 2020. This significant increase presents a significant opportunity for investors who can identify industry trends. Let us start with a quick overview of what unmanned aerial vehicles are, where they're used, and the recent trends in the UAV industry.