Teal Group Predicts Worldwide UAV Market Will Total Over $62 Billion
Unmanned Aerial Vehicles (UAVs) continue to be the most dynamic growth sector of the world aerospace industry, report Teal analysts in their latest integrated market analysis.
Teal Group's 2009 market study estimates that UAV spending will almost double over the next decade from current worldwide UAV expenditures of $4.4 billion annually to $8.7 billion within a decade, totaling just over $62 billion in the next ten years.
The study suggests that the US will account for 72% of the worldwide RDT&E spending on UAV technology over the next decade, and about 61% of the procurement.
"We expect that the sales of UAVs will follow recent patterns of high-tech arms procurement worldwide, with Europe representing the second largest market, followed very closely by Asia-Pacific," said Teal senior analyst Steve Zaloga, "Indeed, the Asia-Pacific region may outpace Europe in UAV development."
The 2009 study also provides 10-year funding and production forecasts for a wide range of UAV payloads, including Electro-Optic/Infrared Sensors, Synthetic Aperture Radars (SARs), SIGINT and EW Systems, C4I Systems, and CBRN Sensors, worth more than $2 billion in Fiscal Year 2009 and forecast to increase to nearly $5 billion in Fiscal Year 2018.
The UAV electronics market will grow steadily, with especially fast growth and opportunities in SAR and SIGINT/EW.
"The payload portion of the 2009 study includes many new systems and system types, with expanded forecasts of the exploding SAR and SIGINT/EW markets," said Dr. David Rockwell, second author of the new UAV study.
"Few now question the US Air Force's claim that ISR is 'the centerpiece of our global war on terrorism', and while production ramps up for major endurance UAV systems such as the APY-8 Lynx, MP-RTIP, and ASIP, new RDT&E efforts will bring large-aircraft capabilities to smaller and smaller UAVs; tactical and mini/micro/nano-UAVs will offer some of the best electronics opportunities over the next decade."
More from Uncrewed Vehicles
Saildrone details ISR-focused 10m USV, Voyager
Saildrone has detailed a new 10m USV, Voyager, designed for ISR missions.
Baykar offers first look at Bayraktar TB3 ahead of UCAV's first flight
Turkish UAV manufacturer Baykar has released images of the in-development Bayraktar TB3 before its imminent first flight.
TAI debuts Anka-3 flying wing combat drone
The UCAV is designed to operate alongside crewed fighter jets such as Turkey’s future TF-X.
Aeronautics inks agreement for producing Orbiter 4 UAVs in Thailand
Aeronautics has expanded its Asia-Pacific operations, signing a collaboration agreement with RV Connex to produce the Orbiter 4 UAV in Thailand.
Royal Navy selects Animal Dynamics parafoil UAV for second phase of Heavy Lift challenge
With a payload capacity of 135kg, the Stork STM can fly up to 400km using a parafoil wing to generate lift.