09 Oct Teal Group Predicts Worldwide Civil Drone Production Will Soar $73.5 Billion Over the Next Decade
PARIS, June 19, 2017 /PRNewswire/ — Civil Unmanned Aerial Systems (UAS) promise to be the most dynamic growth sector of the world aerospace industry this decade, report Teal analysts in their latest market analysis, during the Paris Air Show taking place June 19-25 at Paris-Le Bourget Airport.
“The civil drone market is ready to take off,” said Philip Finnegan, Teal Group’s director of corporate analysis and author of the study. Eased airspace regulations, a flood of outside investment, new UAS service offerings and the entry of leading technology companies are setting the stage for very rapid growth.”
Teal Group’s 2017 World Civil UAS Market Profile and Forecast forecasts that non-military UAS production will total $73.5 billion in the next decade, soaring from $2.8 billion worldwide in 2017 to $11.8 billion in 2026, a 15.5 % compound annual growth rate in constant dollars. The forecast includes commercial, consumer and civil government systems. Teal Group, an independent aerospace and defense research and analysis company, has provided support for the FAA in the preparation of its annual commercial UAS forecast.