Monday , October 18 2021
Drone

Investments in Drone Industry Grow by 67% to $1.2 Billion in 2019



Drone Industry recorded a total $1.2 billion investment in 2019, a record high and year-on-year growth of 67 percent according to data from Finance In Bold (FinBold).

The data shows that Venture Capital funding in the industry stood at $930 million at the end of 2019 and accounting for 68.8 percent of the entire investment in the industry.

 

Between 2008 and 2019, funding in the sector was $4.43 billion while venture capitalists pumped in a total of $3.46 billion by last year, representing 68.87 percent of all funding.

The data also reveal a significant spike in the investment between 2012 ($42 million) and 2013 ($121 million) with a growth of about 188.1 percent.

READ ALSO: ICT Contribution to GDP Rises by 0.97% in Q1 2020

Venture Capital funding joined the drone sector with only $2 million in 2010, a figure that has been rising to hit $930 million in 2019.

The interest from venture capitalists was notable between 2013 and 2014 when the investment grew by 122.5%. On a yearly basis, the VC funding has ranged from $450 million to $550 million over the past four years before the 2019 spike.  According to the report:

“The drone industry has been growing with investment being pumped in at least 52 companies. Some of the big players in the sector include 3D Robotics, DJI, Toyota, Boeing, Audi, Airbus, DroneBase, Microsoft among others. The research notes that even though different companies are receiving fundings from venture capitalists, most of them are based in the United States.”

With the recent growth in investment, the drone industry is expected to witness an increase in funding across 2020. The growth will mainly be fueled by an increase in drone adoption across the globe.


About Bukola Olanrewaju

Check Also

Obaseki Hails Zinox as Edo Signs Partnership with Nigeria’s Tech Giant

Obaseki Hails Zinox as Edo Signs Partnership with Nigeria’s Tech Giant

Edo State Governor, Godwin Obaseki has expressed his delight at the opportunity of working with …

Leave a Reply

Your email address will not be published. Required fields are marked *