|Global Atomics MQ-9 Reaper UAV. Photo: U.S. Air Force photo/Staff Sgt. Brian Ferguson
[Avionics Today 08-17-2015] Worldwide Unmanned Aerial Vehicle (UAV) production will total $93 billion in the next 10 years, the Teal Group reports in its latest market analysis. New unmanned combat aerial vehicle programs, commercial and consumer spending all promise to drive more than a tripling of the market over the next decade.
The study estimates that UAV production will soar from current worldwide UAV production of $4 billion annually to $14 billion a year. Military UAV research spending would add another $30 billion over the decade.
"The market for UAVs looks very strong, increasingly driven by new technologies such as the next generation of unmanned combat systems, and the development of new markets such as civil and consumer drones," said Philip Finnegan, Teal Group's director of corporate analysis and an author of the study.
According to Finnegan, the study calculates that the UAV market will break down to 72 percent military, 23 percent consumer and 5 percent civil for the decade. Of the three areas, civil UAVs will grow most rapidly over the forecast period as airspace around the world is opened, but it grows from a very low base. The study also estimates that the United States will account for 64 percent of the total military worldwide Research Development Test and Evaluation (RDT&E) spending on UAV technology over the next decade, and about 38 percent of the military procurement.