29
May
2014

London Drone Contract Could Attract Other Companies

London Drone Contract Could Attract Other Companies

The global drone aircraft industry will nearly triple in sales over the next 10 years, good news for London’s Diamond Aircraft. The local manufacturer is partnering with American military giant Northrop Grumman to make aerial surveillance aircraft here, the first likely to roll off the line by year’s end. “It is a growth area. If they are offering manned systems they are low cost and in demand around the world and there is a growing appeal,” said Phil Finnegan, director of corporate analysis at Fairfax, Va.,-based aerospace and defense consultancy Teal Group. “If they add unmanned, it increases the potential.” In 2013, the global surveillance aircraft industry was valued at about $3.1 billion a year. By 2022 that will grow to $8.1 billion, he said.

Tags Drones, Northrop Grumman Media Outlet: The London Free Press Featured Analyst Philip Finnegan

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