Predator launching a Hellfire missile
At the Association of Unmanned Vehicle Systems International (AUVSI) 2013 conference and trade show in Washington, the renowned analyst at market research, the Teal Group Corporation estimates that spending worldwide for Unmanned Aerial Vehicles (UAVs) will double over the next decade, rising from $5.2 billion in 2014 to $11.9 billion in 2023. As per the Teal analysts, the US military will lead the world in UAV research and procurement spending over the next decade, accounting for 65 per cent of the UAV research and 51 per cent of the UAV procurement.
The Asia-Pacific region will be second in UAV spending, while Europe will be third. UAV research the world over will increase from $1.9 billion in 2014 to $4 billion in 2023, while procurement will increase from $5.2 million in the year 2014 to $7.6 million in 2023.
As per Teal analysts, US Medium-Altitude Long Endurance (MALE) UAVs such as the MQ-1 Predator will account for the lion’s share of spending over the next decade with a total of $15.5 billion from 2014 to 2023. Unmanned Combat Aerial Vehicles (UCAVs) will total $9.9 billion; high-altitude long-endurance UAVs will account for $9.4 billion; Tactical UAVs (TUAVs) like the US Shadow will total $5.1 billion; Naval UAVs will account for $4.4 billion in spending; mini UAVs will account for $1.3 billion in spending; while Small Tactical UAVs (STUAVs) like the US Integrator will total $1 billion. The forecast expects a drop in US mini-UAV acquisition over the period as combat operations cease in Afghanistan. UAVs continue to be one of the most dynamic growth sectors in the world aerospace industry.
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