Teal: worldwide spending for unmanned aerial vehicles (UAVs) to double over next decade

Worldwide spending forunmanned aerial vehicles (UAVs) will double over the next decade, rising from $5.2 billion in 2014 to $11.9 billion in 2023, predict analysts at market researcher the Teal Group Corp. in Fairfax, Va.

Teal analysts released their latest worldwide UAV forecast this week at the Association ofUnmanned Vehicle Systems International (AUVSI) 2013 conference and trade show in Washington.

UAV research throughout the world will increase from $1.9 billion in 2014 to $4 billion in 2023, while procurement will increase from $5.2 million next year to $7.6 million in 2023.

The U.S. military will lead the world in UAV research and procurement spending over the next decade, accounting for 65 percent of the UAV research and 51 percent of the UAV procurement. The Asia-Pacific region will be second in UAV spending, while Europe will be third, Teal analysts say.

Medium-altitude long-endurance (MALE) UAVs, such as the U.S. 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 U.S. 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 U.S. Integrator will total $1 billion, Teal analysts say.

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