It has developed a new engine for unmanned aerial vehicles, U. S. automobile engine supplier Ricardo Inc. has said.

The Detroit News reported on Wednesday that in contrast to the loud, gasoline engines normally used in UAV products, with technology borrowed from lawnmower engines and similar devises, Ricardo's Wolverine 3 is a 3.1 horsepower, two-cylinder, two-stroke engine that uses heavier fuels.

Ricardo President Ken Niederhofer said at the engine's unveiling on Tuesday, "There is nothing else like it."

It was also reported that Niederhofer predicted the UAV market, which includes military products, would grow from a $4 billion a year businesses to $55 billion by 2030.

The automotive industry had proven to be unreliable in recent years, forcing Ricardo to consider diversifying its revenue stream, he said.

He further said, "We were all reminded a year ago what being tied to one sector can do." (With Inputs from Agencies)