UAV Sector to Grow on Back of the War on Terror
Posted: 03/18/2010 10:45:00 AM EDT
If Forecast International’s Senior Unmanned Systems AnalystLarry Dickerson is to be believed, unmanned air vehicles are expected to be worth almost US$18 billion. To put that figure into perspective, Dubai owes US$26 billion worth of debt.
The US$17.9 billion market for Unmanned Air Vehicles(UAV) reconnaissance systems includes all air vehicles, ground control equipment, and payloads, which are likely to be produced between 2009 and 2018.
While the global war on terrorism has prompted the United States to pump significant amounts of money into its UAV programs, the demand for UAVs are also growing elsewhere, including in Asia whereby new UAVs are being acquired by Japan, South Korea and Taiwan. These purchases are not only restricted to the major powers or to those facing conventional warfare threats.
Dickerson states that demands growth for UAVs have reached staggering highs. “An insatiable demand for unmanned air vehicles is fuelling massive growth within this market. No matter how many UAVs are built, military agencies want more," he said.
“Countries around the world are purchasing UAVs. Those purchases may be small, but growth is foreseen,” Dickerson said
Dickerson further goes on to say that “thanks to their battlefield successes in Iraq and Afghanistan, money is being lavished on UAV programs as never before. Still, UAVs receive only a fraction of the amount spent on fighter aircraft and tactical missiles.”
In saying this, and despite constrained budgets, there is still room for growth in certain Defence sectors. Kunal Sinha, Asia Pacific Consultant of Aerospace & Defense Practice for Frost & Sullivan, has identified unmanned aerial vehicles as one of the fastest growing segments in the Defence market.
“Global companies are scooping up midsized companies in these areas. Exports and foreign sales are potential bright spots in the Defence market. India is expected to spend US$100 billion on military procurement over the next decade. Saudi Arabia and other Middle East countries are also increasing their Defence spending."
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