BAE Industry Consortium: Civilian Drone Market Value Could Hit $400B

A consortium led by the British government and several aerospace companies including BAE Systems predicts the civilian drone market could be worth $400 billion within four years, Reuters reports.

The Autonomous Systems Technology Related Airborne Evaluation & Assessment program also estimates the market could be worth up to $62 billion per year worldwide by 2020, according to Chris Wickham’s article.

Lambert Dopping-Hepenstal, a BAE engineering executive and an ASTRAEA project director, told Reuters the technology should be at the right maturity level within three-to-four years.

Wickham writes the consortium believes drones in civilian airspace can help with search and rescue operations and could also check oil pipelines.

Dopping-Hepenstal told Reuters drones will probably be first used in sea rescue searches and for monitoring fishing grounds.

In the U.S., the Federal Aviation Administration faces a September 2015 deadline to integrate drones into civilian airspace, while the European Commission has set a 2018 goal to do the same.

email
Filed in: C4ISR Tags: , , , , , ,

You might like:

Jonathan Moneymaker on Altamira’s Open Source Push and $1B Air Force Intell Contract Spot Jonathan Moneymaker on Altamira’s Open Source Push and $1B Air Force Intell Contract Spot
Boeing, Danish Firms Ink A&D Market Partnership; Debbie Rub Comments Boeing, Danish Firms Ink A&D Market Partnership; Debbie Rub Comments
Verizon: Enterprise Cloud Spending Up 38% Over Previous Year Verizon: Enterprise Cloud Spending Up 38% Over Previous Year
Peggy Nelson: Northrop Employees Build ‘FabLab’ to Advance Aerospace Ideas Peggy Nelson: Northrop Employees Build ‘FabLab’ to Advance Aerospace Ideas
© 2014 ExecutiveBiz. All rights reserved.