UAS Market to Total $89 Billion Over Next Ten Years
UAS Market to Total $89 Billion Over Next Ten Years 12 April 2012 By Gary Mortimer
Unmanned Aerial Vehicles (UAVs) continue as the most dynamic growth sector of the world aerospace industry this decade, report Teal analysts in their latest integrated market analysis. Teal Group’s 2012 market study estimates that UAV spending will almost double over the next decade from current worldwide UAV expenditures of $6.6 billion annually to $11.4 billion, totaling just over $89 billion in the next ten years.
“The UAV market will continue to be strong despite cuts in defense spending,” said Philip Finnegan, Teal Group’s director of corporate analysis and an author of the study. “UAVs have proved their value in Iraq, Afghanistan and Pakistan and will continue to be a high priority for militaries in the United States and worldwide.”