Aerospace, defense, and government services (ADG) companies are not new to game-changing technology innovations. It is therefore no surprise that a number of ADG companies are early investors in unmanned aircraft systems (UAS) technologies that many predict will have a significant economic impact in 2017 and beyond. The estimated economic impact of UAS varies, but the numbers are all large. A recent Teal Group Corporation study estimates civil UAS as a US$2.6bn market in 2016, quadrupling to US$10.9bn by 2025. A recent PwC report estimates the global market value of UAS-powered solutions at over US$127bn. In the United States, assuming the regulatory framework keeps pace, some predict that the domestic UAS industry will grow within the next decade to be a US$82bn market while creating more than 100,000 new jobs. The FAA also recently estimated that by 2020 there will be 11 million commercial UAS sold in the U.S.
Given the many benefits of this technology, the broad integration of UAS into the National Airspace represents an exciting opportunity for ADG companies.
Please click here to read our alert on the top unmanned aircraft systems developments in 2017 for ADG companies.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
