in ,

Forecast International: UAV Market to Grow Two-Fold in 10 Years

Forecast International: UAV Market to Grow Two-Fold in 10 Years - top government contractors - best government contracting event

UAVForecast International expects unmanned aerial vehicles to become a $2.3 billion industry by 2023 despite a slowdown in production in the coming years, Military &  Aerospace Electronics reported Monday.

John Keller writes the market analyst predicted the global market to more than double from $942 million this year amid the military's continued reliance on flying drones despite the high cost of making new systems.

Manufacturers will churn out an annual rate of 960 unmanned aircraft by 2017, led by the Aviation Industry Corporation of China and Northrop Grumman Aerospace Systems, the study says.

Sea-based unmanned underwater and unmanned surface vehicles are used in mine detection, bomb disposal and torpedo decoy applications.

ExecutiveBiz Logo

Sign Up Now! ExecutiveBiz provides you with Daily Updates and News Briefings about C4ISR News

mm

Written by Elizabeth Leigh

Navy Begins Using Raytheon-Built Missile Interceptor; Taylor Lawrence Comments - top government contractors - best government contracting event
Navy Begins Using Raytheon-Built Missile Interceptor; Taylor Lawrence Comments
Lockheed Updates Small UAS Automation Systems; Kevin Westfall Comments - top government contractors - best government contracting event
Lockheed Updates Small UAS Automation Systems; Kevin Westfall Comments