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Insatiable Demand Fuels Boom In UAV Market
Newtown CT (SPX) Oct 14, 2009 The UAV market has seen unprecedented growth since 2001, with its current projected value over the next 10 years estimated at $17.9 billion. "An insatiable demand for unmanned air vehicles is fueling massive growth within this market," said Larry Dickerson, senior unmanned systems analyst for Forecast International. "No matter how many UAVs are built, military agencies want more." Dickerson notes that a few years ago, UAV contracts in the millions of dollars were big news; now these awards are in the billions. "In addition to procurement, research funding for unmanned air vehicles could exceed $20 billion through 2018," he added. The $17.9 billion market for UAV reconnaissance systems includes all air vehicles, ground control equipment, and payloads likely to be produced between 2009 and 2018. The United States is the driving force behind this market, and U.S.-based companies will account for more than 60 percent of the market's value. Still, demand for UAVs is growing elsewhere. Europe is the second largest market for UAVs, with France, Germany, Italy, and the United Kingdom working to expand their UAV fleets. However, a shortage of funding is hindering some research and procurement programs. In Asia, new UAVs - some from local sources - are being acquired by Japan, South Korea, and Taiwan. Purchases are not restricted to major powers and those facing conventional warfare threats. "Countries around the world are purchasing UAVs. Those purchases may be small, but growth is foreseen," Dickerson said. Share This Article With Planet Earth
Related Links Forecast International The Military Industrial Complex at SpaceWar.com Learn about the Superpowers of the 21st Century at SpaceWar.com
Scandal-hit BAE wins Saudi contractRiyadh, Saudi Arabia (UPI) Oct 13, 2009 British defense giant BAE Systems, locked in a legal battle with Britain's Serious Fraud Office over arms sales to Africa, has won a contract with Saudi Arabia to service 72 Typhoon strike jets it is buying from Eurofighter. The three-year contract, which includes training Saudi pilots and technicians in the United Kingdom, could be worth as much as $800 million. The Saudi deal ... read more |
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