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Teal Group Predicts Worldwide UAV Market Will Total Over $62 Billion

17th February 2009 - 15:30 GMT | by The Shephard News Team


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."

UAV Payloads

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."

The Shephard News Team


The Shephard News Team

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