UAV Spending

Spending on unmanned aerial vehicles will nearly double over the next 10 years, according to a new analysis from the Teal Group, which also finds that UAVs "have been the most dynamic growth sector of the world aerospace industry" during the past decade.

"Teal Group's 2011 market study estimates that UAV spending will almost double over the next decade from current worldwide UAV expenditures of $5.9 billion annually to $11.3 billion, totaling just over $94 billion in the next ten years," according to a company statement.

"The UAV market will continue to be strong despite cuts in defense spending," Philip Finnegan, Teal Group's director of corporate analysis and one of the report's authors, said in the statement. "UAVs have proved their value in Iraq and Afghanistan and will be a high priority for militaries in the United States and worldwide."

The United States will account for 77 percent of the worldwide research and development spending on UAV technology over the next 10 years, along with 69 percent of procurement, according to Teal.

"We expect that the sales of UAVs will follow recent patterns of high-tech arms procurement worldwide, with the Asia-Pacific representing the second largest market, followed very closely by Europe," Teal Group senior analyst Steve Zaloga, another study author, said in the statement, adding: "Africa and Latin America are expected to continue to be very modest markets for UAVs."