Global market for UAS forecast to experience strong growth over next decade

According to reports, it is being projected that the US and global market for unmanned aerial systems (UAS) will likely witness robust growth in the next decade, the constrained economic scenario notwithstanding.

As per the forecast by the Teal Group, an aerospace and defense market intelligence and analysis firm, the countries which will probably be particularly active in the UAS programs over the next ten years will include Europe, China, and Japan.

In its recent report, the Teal Group, cited by the US Congressional Research Service (CRS), said that global spending on research and development (R&D) of unmanned aerial systems, as well as their testing, evaluation and procurement, will apparently witness a substantial increase from $6.6 billion annually in 2013 to $11.6 billion annually in 2022.

Going by the projections, a total of approximately $89.1 billion will be spent on UAS programs in the next ten-year period.

Meanwhile, noting that the US is the leader in the military sector of the market for unmanned aerial systems and that Israel is becoming increasingly competitive, the CRS report - without directly linking US export policies to Europe's UAS programs - said that European aerospace manufacturers "appear to be focused on potential sales to non-military government and commercial customers."

AustrianTribune Specials

The Chinese Ministry of Commerce and State Administration of Taxation has recently given its approval to the first science and technology financial leasing firm, Zhongguancun Science and Technology Financial Leasing Co. Ltd.

Zhongguancun...

Most Popular

In a partnership which will enable German operator...

On Monday, Danish Radio DR, citing unidentified sources...

Times Higher Education's 2013 World Reputation Rankings...

According to ABC News, Internet search giant Google has...

Automotive News

  • Porsche Recalls Some 2012-2013 911 Carrera and Carrera 4 Models
  • Toyota to Launch New FT-Open Concept at Geneva
  • Over $9.1million Earned by Microcars at an Auction in Madison
  • Recall of Above 30,000 X5 SUVs by BMW
  • EPA Rates Ford Fusion Energi as Most Fuel-Efficient Sedan in America

Celebrity News

  • Gerard Depardieu Meets President Putin; Takes Russian Passport

UK News

  • UK Game Charts Topped by Crysis
  • Britain Promises £88 million for World’s Biggest Telescope Development
  • Prof Says Queen Fell Ill Likely Due to Norovirus
  • ProActive Prostate Cancer Self-help group criticises London Cancer’s plans
  • Majority of Men fail to Prioritize Health: Survey