By Andy Choi
The recent integrated market analysis by Teal analysts states that unmanned aerial vehicles (UAVs) will remain as the vibrant growth sector of the global aerospace industry for another ten years.
According to Teal Group's 2012 market study, the UAV expenditure will show two-fold increase over the next decade. The current worldwide UAV annual spending has increased from $6.6 B to $11.4 B, expecting to increase by $89 B this decade.
This sector study’s ninth edition titled ‘World Unmanned Aerial Vehicle Systems, Market Profile and Forecast 2012’ includes evaluation on the global requirements for UAVs such as UAV payloads and companies. It represents ten-year forecasts on region, country, and classes of UAVs.
Teal Group analysts’ evaluation has been conducted on UAV market related to UAV Briefing and World Missiles, wherein the UAV market operates on a program-by-program basis. Teal's Military Electronics Briefing also includes Sensor payloads. The sector study evaluation is conducted from a complementary perspective of the UAV market such as national requirements. Furthermore, it includes comprehensive analysis of major UAV manufacturers and UAV system payloads.
The 2012 study includes forecasts on ten-year funding and production based on a an extensive array of UAV payloads such as C4I Systems, Electro-Optic/Infrared Sensors (EO/IR), CBRN Sensors, Synthetic Aperture Radars (SARs), SIGINT and EW Systems. These amount to $2.7 B in Fiscal Year 2012 and will increase up to $6.0 B in Fiscal Year 2021.
By evaluating around 40 South African, U.S., European, and Israeli companies, the new study represents the booming potential for UAV business and manifests the fundamental restructuring of the industrial environment.