The global drone marketplace is expected to be worth more than $232 billion by 2029, up from $13 billion this year, according to new research.

Fortune Business Insights, which published the study, said the drone services market is divided into areas including aerial photography, product delivery, surveillance and inspections, data acquisition and analytics.

A key driver of the marketplace’s growth was attributable to rising demand for surveillance drones, borne out of Russia’s war with Ukraine, it said, citing data acquisition, border surveillance, and data gathering as key drivers of sales.

The research also found the drone market was positively impacted as a result of the pandemic, which led to “robust demand” for delivery drones from the healthcare industry.

Drones in the aerial photography segment were also forecast as a key driver of growth due to its rising applications in large countries.

The news follows telecoms giant Virgin Media 02’s plans to trial 4G and 5G-connected drones to rescue endangered hikers.

Virgin said that the drone technology would allow first responders to access essential information, assess situations at speed, and “easily locate and save those who are in danger”.

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