Unmanned aerial systems (UAS) will continue to proliferate and remain a dynamic business sector throughout the coming decade, reports Teal Group’s 2022/23 market study. Estimates suggest that annual spending on UAS procurement will rise from $12.1 billion in 2023 to $16.4 billion in 2032. The procurement spend across the decade will total $162.2 billion, along with a further $72.5 billion of research spending, says the study, which includes estimates of the classified programs undertaken mainly in the U.S.
While the forecast projects that the U.S. will account for 81 percent of the global research and development budget in the UAS sector—and 48 percent of procurement—the study notes that China and Turkey have exerted increasing pressure on the traditional domination of the market by the U.S. and Israel, notably in the Middle East. The study includes reviews and forecasts for the UAS sensor marketplace, which it projects will grow from $5.5 billion in FY22 to $11.8 billion in FY31. Radars will rank as the best-performing sensor sector, reports the Teal Group. In terms of trends, the study foresees growth in the market for sensors for small UASs as capabilities trickle down from the larger platforms.