The global market for unmanned aerial vehicles will reach $7.26 billion in 2012, says a report by Visiongain, a British independent business information provider.
UAVs are becoming increasingly important for militaries worldwide creating a robust demand for those aircraft over the next decade says the report, The Unmanned Aerial Vehicles Market 2012-2022: Technologies for ISR & Counter Insurgency.
UAVs are taking on a range of battlefield tasks and have proven critical to intelligence gathering, targeting and situational awareness, the report says. In addition, armed UAVs are being used in attack missions where a persistent presence is required, or where manned aircraft operations are deemed unsuitable, the study says.
In addition, there is an emerging market for civil or non-military UAVs that has been helped by the United States’ plan to integrate UAVs into its national airspace, the report says.
The report predicts that UAV procurement and development will obtain priority funding. However, the cancellation of some high-profile UAV programs has reinforced the belief there are few defense areas that are immune to current spending cuts by Western countries, the report cautions. Nonetheless, Visiongain says the value of the UAV market will reach $7.26 billion during 2012.