Analysis: Global Military UAV Market to Reach $80 Billion by 2026
A recently published study by Teal Group estimates that the military UAV market will continue to grow by 11 percent each year in the coming decade. Market growth will be led by Unmanned Combat Aerial Vehicles and High Altitude Long Endurance UAVs
Ami Rojkes Dombe
| 27/11/2017
http://www.iaf.org.il/4421-45071-HE/IAF.aspx
Teal Group's 2017 market study estimates that UAV production will increase from current worldwide military UAV production of $4.2 billion annually in 2017 to $10.3 billion in 2026, totaling $80.5 billion in the next ten years.
Research and development will total $26.6 billion over the period, with nearly 60% of that coming from the United States. The largest market segment over the next decade will be High Altitude Long Endurance UAVs, which will account for a third of the period’s sales. Asia-Pacific will account for the second largest $ value of production (more than $20 billion over the forecast period), after the United States. Europe will account for slightly less than half of that amount.
"The UAV market continues to soar," said Philip Finnegan, Teal Group's director of corporate analysis and an author of the study. "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 defense continue to drive the market."
"The Teal Group study predicts that the US will account for 57% of total military worldwide RDT&E spending on UAV technology over the next decade, and about 31% of the military procurement," said Teal Group senior analyst Steve Zaloga, another author of the study.
A recently published study by Teal Group estimates that the military UAV market will continue to grow by 11 percent each year in the coming decade. Market growth will be led by Unmanned Combat Aerial Vehicles and High Altitude Long Endurance UAVs
http://www.iaf.org.il/4421-45071-HE/IAF.aspx
Teal Group's 2017 market study estimates that UAV production will increase from current worldwide military UAV production of $4.2 billion annually in 2017 to $10.3 billion in 2026, totaling $80.5 billion in the next ten years.
Research and development will total $26.6 billion over the period, with nearly 60% of that coming from the United States. The largest market segment over the next decade will be High Altitude Long Endurance UAVs, which will account for a third of the period’s sales. Asia-Pacific will account for the second largest $ value of production (more than $20 billion over the forecast period), after the United States. Europe will account for slightly less than half of that amount.
"The UAV market continues to soar," said Philip Finnegan, Teal Group's director of corporate analysis and an author of the study. "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 defense continue to drive the market."
"The Teal Group study predicts that the US will account for 57% of total military worldwide RDT&E spending on UAV technology over the next decade, and about 31% of the military procurement," said Teal Group senior analyst Steve Zaloga, another author of the study.
