WASHINGTON, Nov. 19, 2018 /PRNewswire/ -- Unmanned
Aerial Vehicles (UAVs) will be the most dynamic growth sector of
the world aerospace industry this decade, more than tripling in the
next decade, report Teal analysts in their latest market
analysis. Worldwide military adoption of UAVs and soaring
demand for the next generation of unmanned combat aerial vehicles
(UCAVs) are driving the market's rapid growth.
Teal Group's 2018/2019 market study estimates that UAV
production will increase from current worldwide UAV production of
$4.9 billion annually in 2018 to
$10.7 billion in 2028, totaling
$90.1 billion in the next ten years.
Military UAV research spending would add another $34 billion over the decade. (For further details
and study availability, contact the respective Teal sales
representative in your area at http://www.tealgroup.com/).
"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, low cost Chinese
exports, 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 63%
of total military worldwide RDT&E spending on UAV technology
over the next decade, and about 30% of the military procurement,"
said Teal Group senior analyst Steve
Zaloga, another author of the study. The larger, higher
value systems procured by the United
States help drive the relative strength of the US market
over the decade, but other areas such as Asia-Pacific are growing more rapidly.
The latest edition of the sector study, World Military
Unmanned Aerial Vehicle Systems, Market Profile and Forecast
2018/2019, examines the worldwide requirements for UAVs,
including UAV payloads and companies, and provides ten-year
forecasts by country, region, and classes of UAVs. It incorporates
the latest budget data worldwide, including the fiscal 2019 US
defense budget.
UAV Payloads
The 2018-2019 study provides forecasts for a wide range of UAV
payloads, including Electro-Optic/Infrared Sensors (EO/IR),
Synthetic Aperture Radars (SARs), SIGINT and EW Systems, and C4I
Systems, forecast to almost double in overall value from
$4.2 billion in FY18 to $7.5 billion in FY27. Steady growth will occur in
the "default sensor" EO/IR market, following up and-down funding in
recent years as several legacy endurance UAV sensor programs ended.
Teal forecasts a near-term rise from $1.3
billion in FY18 to $2.0
billion in FY22, led by funding for adding U-2 sensors to
Global Hawk, by HD upgrade programs for Reapers and Gray Eagles, and by new production for
classified UCAVs and mini/nano-UAVs.
This year, even more classified and future follow-on sensor
programs are forecast, to show all business opportunities.
According to Dr. David L. Rockwell,
Teal's lead electronics analyst, "It is vitally important to
forecast these programs, as they make up more and more of the
available market, even though they are in none of the documents or
online sources." He notes that, "Detailed speculative 'available'
forecasts – totaling more than $32
billion for payloads through FY27 – are intended to give
early warning of programs that are not yet in DoD budgets or under
public discussion – to allow Teal's clients to plan ahead before
the RFPs are out." Dr. Rockwell concludes that, "This $32+ billion
will make up more than half the UAV sensor market; we've put this
together through my 24 years at Teal Group, and it's just not
available online."
Along with EO/IR, comprehensive coverage of the sea change in
the radio frequency (RF) market also is included, with UAV radars
forecast to grow from $1.0 billion in
FY18 to $2.1 billion in FY27, and
SIGINT and Electronic Attack (EA) markets to grow from $980 million to $1.9
billion (with a 17.3% EA CAGR from FY18 to FY21 for major
UCAV systems). "The emphasis on – and funding for – different
sensor types is already changing as geopolitics evolve back to
A2/AD threats and near-peer opponents in Asia and Eastern
Europe," according to Teal's study.
UAV Companies
The 2018-2019 study also includes a UAV Manufacturers Market
Overview that reflects the worldwide UAV market "again continuing
as one of the prime areas of growth for defense and aerospace
companies," said Finnegan. "They continue to build up their
position by organic growth, acquisitions and teaming."
This year's military study has a companion volume on civil
government, commercial and consumer UAVs. The rapid growth in those
markets required a new study analyzing the varying dynamics of
those markets.
The 2018/2019 edition includes UAV market forecast
spreadsheets, permitting data manipulation and offering a powerful
strategic planning mechanism.
The Teal Group is an aerospace and defense market analysis
firm based in Fairfax, Virginia USA. It provides
competitive intelligence to industry and government
worldwide.
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SOURCE Teal Group