Report Details:
15 Companies Covered
103 Pages
April , 2023/“Global Military Drone Market Research Report - Forecast to 2021” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2030.
Global Military Drone Market – Overview
Military Drone Market Size was valued at USD 4.5 billion in 2022. The Military Drone market industry is projected to grow from USD 5.07 Billion in 2023 to USD 10.43 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 12.77% during the forecast period (2023 - 2030).
Many new global military agencies have adopted drones to protect their borders, enforce law and for combat missions. Moreover, the growing demand for global military drone equipment’s that satisfy the demand for unmanned aerial vehicle (UAV) expansion. The expansion of UAVs is estimated to rise in military drones expenses and as well as it is expected to add to the growth of the market. However, effect of defense budget cut on the procurement of drones, limitation of endurance and flight range, and issues with battery technology of UAVs acts as a barrier to the growth of global military drone market.
The growing investment by venture funding and increase in demand for drone-generated data in commercial application has an impact on the market. Moreover, the factor responsible for the growth of global military drone market is drones in the military application, integration of drone in the current warfare systems to combat or counter threats, and cost-effective as compared to manned aircraft. This is the primary factor that drives the growth of the global military drone market and has gained prevalence in the recent times, with the usage of best in class technologies in aircraft. Thus, the growth of the global military drone market is expected to go hand in hand with the growth of unmanned aerial vehicles in the aircraft industry.
The expansion of the unmanned aerial vehicle, which has resulted in the development of a set of global military drone market. The increased focus of defense on video monitoring, investigation, remote surveillance, border security, protection of infrastructure, thermo graphic inspection, fire fighting and law enforcement, due to which there will be growth in global military drone market. Hence, it is expected that the rapid expansion of UAVs would eventually drive the global military drone market. Moreover, the popularity of various applications in defense, agriculture, media and entertainment and weather forecasting, will drive the growth of Global Military Drone market during the forecast period.
Industry/ Innovation/ Related News:
March, 2018 – AeroVironment Inc. had signed a contract by the U.S. Army to support a military sale of unmanned aerial vehicles to Egypt.
April, 2018 – General Atomics Aeronautical Systems Inc. had signed a contract by the U.S. Air Force to support weaponized unmanned aircraft system for U.K.
Global Military Drone Market – Segmentation
The global military drone market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Payload Type : Comprises Sensors, Camera, Navigation Systems and Others
Segmentation by Drone Type : Comprises MALE, HALE, TUAV, UCAV and SUAV
Segmentation by Applications : Comprises Spying, Search and Rescue, Border Security, and Combat
Segmentation by Regions : Comprises Geographical regions - North America, Europe, Asia-Pacific, Middle East & Africa and South America.
Key Players:
AeroVironment (U.S.), General Atomics Aeronautical Systems (U.S.), Israel Aerospace Industries (Israel), Lockheed Martin (U.S.), Northrop Grumman (U.S.), AAI Corporation – Textron Systems (U.S.), Aeryon Labs Inc. (Canada), American Dynamics (U.S.), BAE Systems (U.K.), and Boeing (U.S.) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global military drone market.
Global Military Drone Market:
Regional Analysis
North America region market is dominating the market of global military drone market due to high adoption rate of drones in various commercial applications and defense applications.
European region is referred to as the second-largest global military drones market due to factors such usage of drones in diverse environments and high-risk roles have fuelled the demand for Global Military Drone market.