UAV Market Exceeds Five Billion Dollars In 2010
London, UK (SPX) Jun 28, 2010
New market research calculates that in 2010 the global market for unmanned aerial vehicles will reach more than $5.5bn. This can be attributed to the wide and growing popularity of UAVs as a key asset for armed forces worldwide.
Led by the US, which dominates spending on UAVs, many of the world's armed services are acquiring or developing a wide range of UAVs for use in current conflicts as well as in future scenarios. There will be steady demand across the wide range of the different types of UAVs, namely:
+ Mini UAVs
+ Tactical UAVs
+ Endurance UAVs
+ Unmanned Combat Aerial Vehicles (UCAVs)
+ Civil UAVs
The UAV market is being driven by major acquisition programmes mainly by the US but also by similar programmes in Europe and the Asia-Pacific.
The US will remain the largest market in the next few years, as it continues to acquire different UAVs for all its armed services and for use within different levels of its military units.
The use of UAVs in US border security is also on the rise. The US is also developing new types of UAVs that would provide new capabilities for future conflicts.
Several countries are following the US lead and are likewise investing in UAVs as a key force multiplier. European countries are both embarking on their own acquisition programmes or working on collaborative projects.
Israel has acquired its share of UAVs and has become a key supplier to other countries. Asian powers such as China and India, along with Japan and South Korea, which both have mature industrial and technological base, are systematically working to build up considerable UAV fleets.
The Unmanned Aerial Vehicles (UAV) Market 2010-2020: Technologies for ISR and Counter-Insurgency report reveals that several key markets are undertaking significant UAV programmes and that this will only continue in the future. This points to a steady market for UAVs over the next decade that companies currently involved in the sector, and those looking to take part in it, have the opportunity to exploit.
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Ankara, Turkey (UPI) Jun 23, 2010
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