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Analyst: UAV Market Will Total Over $80 Billion This Decade

Teal Group Releases 2010 UAV Market Profile and Forecast

While their rate of growth may decline somewhat, Unmanned Aerial Vehicles (UAVs) continue to be the most dynamic growth sector of the world aerospace industry, reports Teal analysts in their latest integrated market analysis.

In a news release, Teal Group says its 2010 market study estimates that UAV spending will more than double over the next decade from current worldwide UAV expenditures of $4.9 billion annually to $11.5 billion, totaling just over $80 billion in the next ten years. "With striking examples in Afghanistan and Pakistan, the most significant catalyst to this market has been the enormous growth of interest in UAVs by the U.S. military, tied to the general trend toward information warfare and net-centric systems," said Teal senior analyst Steve Zaloga, one of the authors of the new, over 400-page study. "UAVs are a key element in the intelligence, surveillance, and reconnaissance (ISR) portion of this revolution, and they are expanding into other missions as well with the advent of hunter-killer UAVs."

File Photo

The study suggests that the U.S. will account for 76% of the worldwide RDT&E spending on UAV technology over the next decade, and about 58% 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, again followed very closely by Asia-Pacific," said Zaloga. "Africa and Latin America are expected to be very modest markets for UAVs."

The 2010 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 almost $3 billion in Fiscal Year 2010 and forecast to increase to nearly $6 billion in Fiscal Year 2019. The UAV electronics market will grow steadily, with especially fast growth and opportunities in SAR and SIGINT/EW.

File Photo

The 2010 study also includes a UAV Manufacturers Market Overview that reflects the worldwide UAV market "continuing as one of the hottest areas of growth for defense and aerospace companies," said Philip Finnegan, third author of the new Teal Group UAV study. The new study will reflect the rapid growth of interest in the UAV business by increasing the number of companies covered to almost 30 U.S., European and Israeli companies, and reflect the fundamental reshaping of the industrial environment.

"Smaller companies can successfully compete against larger players, as AAI Corp., Insitu, General Atomics and AeroVironment have all shown," Finnegan said. "Now the prime contractors are buying the successful smaller companies." Advanced Ceramics, AAI Corp., Insitu and Athena Technologies have all been acquired within the past two years. In addition, Swift Engineering sold its BAT UAV line to Northrop Grumman.



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