The aerospace community is planning for growth in Unmanned Aerial Systems (UAS) funding and research opportunities. The premise that UAS will revolutionize aerospace appears to be unfolding based on current trends. There is also an anticipation of an increasing number of new platforms and research investment, which is likely but must be analysed carefully to determine where the opportunities lie. This paper draws on the state of technology, history and systems engineering. We explore what aspects of UAS will be the result of aerospace science advances and what aspects will be incremental engineering and systems integration. It becomes apparent that, for academia, the largest opportunities may exist in small and micro UAS domain due to the novelty of aerospace engineering on a small scale.