Global drone market to hit $1bn by 2018

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A Chief Economist at the US Consumer Electronics Association (CEA) has predicted that the global market for drones is expected to reach $1bn by 2018.

For 2015, it is predicted that revenues for drones will be up 50% over 2014, with units sold reaching 425,000, generating a further $130m in revenues.

Shawn DuBravac told Venture Beats: "We are shifting from what something we could do technologically to what is technologically meaningful. We see these things playing out at CES, like micro-customization."

In addition, DuBravac also predicted that about 100 different types of drone will be rolled out this year.

Other predictions include a rise in virtual reality products; a broadening of Netflix’s output; and 3D printing expansion.

During 2014 there have been several drone appliances including using them for purpose of news gathering, for delivering goods, and there have also been plans for a drone testing lab.

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