Unmanned Aircraft Systems continue as the most dynamic growth sector of the world aerospace industry this decade, according to Teal Group.
The 2012 market study estimates that UAS spending will almost double over the next decade from current worldwide UAS expenditures of $6.6 billion annually to $11.4 billion, totaling just over $89 billion in the next ten years.
“The UAS 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. “UAS 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.”
“The Teal Group study predicts that the US will account for 62 percent of the worldwide Research, Development, Test & Evaluation spending on UAS technology over the next decade, and 55 percent of the procurement,” said Teal Group senior analyst Steve Zaloga.
Source: Press Release