Unmanned vehicle investment takes off

The unmanned aerial vehicle (UAV) market sector has experienced the most dynamic growth of any sector in the global aerospace industry this decade, according to a 2011 market study. Analysts at Teal Group, an aerospace and defense market analysis firm based in Fairfax, Va., predict UAV spending to nearly double over the next decade. Current worldwide UAV expenditures total $5.9 billion annually—a figure that Teal Group analysts predict to grow to $11.3 billion annually.

Analysts further anticipate UAV spending over the next 10 years to total just over $94 billion. “The UAV market will continue to be strong despite cuts in defense spending,” reports Philip Finnegan, Teal Group’s director of corporate analysis and an author of the study. He predicts UAVs to be a high priority for U.S. and worldwide militaries, especially given their proven performance and value in Iraq and Afghanistan.

UAVs have been credited as having changed the face of war, in fact. They have also been called the most effective military weapon in the fight against Al Qaeda; the most famous UAV application is likely the use of unmanned drones in Pakistan to locate, videotape, and confirm the identity of Osama Bin Laden. U.S. forces also employed UAVs in the recent NATO-led campaign against Col. Muammar el-Qaddafi’s forces in Libya.

“World Unmanned Aerial Vehicle Systems, Market Profile and Forecast 2011,” now available from Teal Group, marks the eighth edition of Teal Group’s UAV sector study. This geek is impressed that each annual outlook has been positive, as well as has reported and predicted continued growth. To the unmanned future!

Post Author

Posted October 26th, 2011, by

Post Tags

, , , , , , , , , , , , , , , , , , ,

Post Comments

2 Comments

About J. VanDomelen Mil/Aero Blog

J. VanDomelen holds a Bachelor of Science in Information Systems and myriad certifications from Microsoft, Cisco, and CompTia in varying facets of computer software, hardware, and network design and implementation. He has worked in the electronics industry for more than 12 years in varied fields, including advanced systems design of highly technical military and aerospace computer systems, semiconductor manufacturing, open source software development, hardware design, and rapid prototyping. J. VanDomelen Mil/Aero Blog

@JLVanDo tweets

Follow JLVanDo

Comments

2 comments on this post | ↓ Add Your Own

Commented on March 27, 2012 at 6:55 am
By John Stellberg

Can you tell me the source of this photo? I would like to use it for a commercial purpose.

Commented on March 27, 2012 at 9:15 am
By J VanDomelen

I am sorry I do not know what the actual source was. I would suggest trying Google image search or TinyEye. I tried but found no definitive source. I apologize.

Add Your Comment

Archives