Global spending on unmanned aerial vehicles is poised for a major expansion in the coming decade as militaries invest about $98 billion in new intelligence gathering and strike capabilities, experts say.

The Teal Group, an aerospace and defense industry market analysis firm, expects worldwide research-and-development and procurement spending on drones to rise from a projected $11.1 billion in 2020 to $14.3 billion by 2029 — nearly a 30 percent increase. R&D spending is forecasted to grow from $3.2 billion in 2020 to $4 billion in 2029, and procurement funding is projected to ramp up from $7.9 billion in 2020 to about $10.3 billion by the end of the decade.

“UAVs remains one of the most dynamic sectors” in the defense market, said senior analyst Steve Zaloga, co-author of the Teal Group’s recently released … (read more)