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Commercial Drones Could Grow Into $10 Billion Industry, Experts Say

Commercial Drone
(Image credit: <a href="http://www.shutterstock.com/gallery-954226p1.html">Robert Mandel</a> | <a href="http://www.shutterstock.com/">Shutterstock</a>)

The marketplace for commercial drones could be worth $10 billion within three years, according to industry analysts. Drones are already widely used in the military, but analysts anticipate these unmanned aircraft systems could have broad commercial applications in the public and private sector, United Press International reported.

Modern Technology Solutions, an engineering firm that specializes in drone systems and ballistic missile defense, recently announced it plans to expand its drone platforms into the commercial market. The company said growth in this area has been slow so far, due to a lack of regulations to govern how commercial drones should occupy American airspace, according to UPI.

Modern Technology Solutions has provided services to a number of government agencies, including the Federal Aviation Administration, NASA, the Pentagon and the Department of Homeland Security.

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Denise Chow
Denise Chow is the Assistant Managing Editor at Live Science. Before joining the Live Science team in 2013, she spent two years as a staff writer for Space.com, where she wrote about rocket launches and covered NASA's final three space shuttle missions. A Canadian transplant, Denise has a bachelor's degree from the University of Toronto, and a master's degree in journalism from New York University.