Ready for Takeoff – Homeland Security TodayAugust 1st, 2013
President Obama’s budget calls for $526.6 billion in defense spending, down $3.9 billion from the year before. Spending on drones by all branches of the military is down by exactly $1.3 billion from the year before, to $2.5 billion for 2014.
Despite the cutbacks, unmanned aerial vehicles (UAVs) continue as the most dynamic growth sector of the world aerospace industry this decade, according to the latest integrated market analysis from the Teal Group. The Group’s 2013 market study estimates that UAV spending will more than double over the next decade from current worldwide UAV expenditures of $5.2 billion annually to $11.6 billion, totaling just over $89 billion in the next ten years.
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