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Teal Group Forecasts Doubling of UAV Spending

 - June 16, 2009, 10:07 AM

The Teal Group’s latest Market Profile and Forecast for the unmanned aerial vehicle concludes that expenditure on UAVs will rise from an annual $4.4 billion in 2009 to $8.7 billion by 2018. At the same time, the aerospace analysis group forecasts a rise in UAV payload expenditure from $2 billion to nearly $5 billion. The market overview acknowledges the UAV arena as a growth area for acquisitions, with major primes buying up UAV programs from small companies to strengthen their unmanned portfolios.