Teal Group has predicted that Civil Unmanned Aerial Systems will be the most dynamic growth sector of the world aerospace industry this decade.
It said it expects this to happen as commercial applications take off and civil governments adopt systems for new roles.
Phillip Finnegan, Teal Group’s director of corporate analysis, commented: “The foundations for rapid growth are being laid. Venture capital investment in the sector has soared and technology giants increasingly envisage drones as part of their future. Regulators are loosening airspace rules. Governments are turning to UAS to monitor borders and provide public safety.”
Teal Group’s 2019 World Civil UAS Market Profile and Forecast projects that non-military UAS production will total $88.3bn over the next decade, soaring from $4.9bn in 2019 to $14.3bn in 2028, a 12.6% CAGR in constant dollars.
The study includes forecasts of commercial, consumer and civil government systems.
It also envisages that commercial use will surpass the consumer drone market in 2023, becoming the largest segment.
Finnegan, the study’s author added: “The growing promise of the civil market is attracting the world’s leading technology companies, driving ever faster development of systems and business applications. As corporate clients move from proof of concept to fleet deployment the market will soar.”
The report goes on to detail how the use by civil governments as well as aerospace, data analysis and telecommunications firms are driving the diverse market.