UAV Market Will Continue to Expand

UAV Market Will Continue to Expand 16 November, 2017

Aerospace and defence industry market analysis company Teal Group's latest report shows that unmanned aerial systems will be the most dynamic growth sector of the world aerospace industry this decade. Teal Group's 2017 market study estimates that UAV production will increase from current worldwide UAV production of $4.2 billion annually in 2017 to $10.3 billion in 2026, totalling $80.5 billion in the next 10 years. Military UAV research spending would add another $26 billion over the decade. 

Philip Finnegan, Teal Group's director of corporate analysis and an author of the study, said: “Increasing trade in costly high-altitude, long-endurance systems, demand for armed UAVs, the development of the next generation of unmanned combat systems, and potential new applications such as missile defence continue to drive the market.”

The results reflect the rapid growth of interest in the UAV business by covering almost 60 U.S., European, Asia-Pacific, and Israeli companies, and reveals the fundamental reshaping of the industrial environment as UAV technology proliferates worldwide.

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