Military Drone Market to Witness Salient Growth at 8% CAGR from 2017 to 2023

Pune, India, June, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Military Drone Market Research Report.

Market Synopsis:

The adoption of military drones has revolutionized the defense industry all around the world, thereby, fueling the demand in the market owing to the efficient safety and security options it offers. The latest report published by Market Research Future (MRFR) reveals that the global military drone market is poised to grow saliently at 8% CAGR.

Government’s initiatives to protect its citizens is the key driver of the market as this technology can be deployed both for fighting internal militancy as well as outside threats. The adoption of drone technology as an added security layer by neighboring countries is pushing the countries towards embracement of the technology themselves. Factors responsible for the growth of the market are simple operational and maintenance procedures, high military tactical capabilities, support to intelligence missions, increased demand for drones in the military application, integration of drones in the current warfare systems to combat or counter threats, cost-effectiveness, etc. The increased venture funding, introduction of next-gen technology, etc. are spiraling the revenue generation from the market.

The safety and security concerns are one of the significant restraints to the market growth owing to factors such as procurement of restricted data, and, privacy & nuisance issues. Other factors that will slash the revenue generation of the market are limitation of endurance and flight range, problems with battery technology of UAVs, etc.

Access Report @ https://www.marketresearchfuture.com/reports/military-drone-market-1667

Global Military Drone Market Segmentation:

By payload type, the market has been segmented into sensors, camera, navigation systems, and, others. The sensors segment will hold major proportion of market share and control owing to wide application in many commercial and military applications

By drone type, the market is segmented into MALE, HALE, TUAV, UCAV, and, SUAV.

By applications, the market has been segmented into spying, search and rescue, border security, and, combat. The border security segment will exhibit highest CAGR during the forecast period due to increased demand for preventive actions and emergency cases.

Regional Analysis

By region, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and, South America. North America market will see exponential growth during the forecast period due to its early adoption of the technology coupled with considerable investments in research & development activities directed towards the advancement of the existing technology. The U.S. is a major contributor in this region both in terms of demand and supply. It has widened the application of its military drones for fighting terrorism as well as for internal law enforcement. The market in Europe holds the second spot with respect to market share and control. The frequent terror attacks in this region has fueled the demand for military drones for safeguarding its people. Another factor responsible for the growth of the market in this region is the usage of drones in diverse environments and high-risk roles such as weather monitoring.

Asia Pacific market is poised to witness tremendous growth due to large-scale adoption of military drones. The cross-border conflicts among the nations are propelling the demand for military drones in this region. Moreover, the presence of emerging economies such as India and China are accelerating the use of this technology in this region. The Middle East & Africa market will see growth with considerable contribution from players in countries such as Israel. The demand in this region is set to grow across the projection period.

Competitive Dashboard:

Some of the top-notch market players profiled in the report by MRFR are General Atomics Aeronautical Systems Inc. (U.S.), Lockheed Martin (U.S.), AAI Corporation – Textron Systems (U.S.), American Dynamics (U.S.), BAE Systems (U.K), AeroVironment Inc. (U.S.), Israel Aerospace Industries Ltd. (Israel), Northrop Grumman Corporation (U.S.), Aeryon Labs Inc. (Canada), and, Boeing (U.S.).

European aerospace giant Airbus has signed a deal on behalf of German defense ministry to lease five Heron TP drones from Israel. The leased drones will replace Heron 1 unmanned aircraft deployed for surveillance in Afghanistan and Mali. The deal signed is estimated to be worth around USD 1.2 Bn. The deal had been a topic of discussion among German parliamentarians since a year and has been finally approved on terms that the arming the drones will require a separate law. Israeli Prime Minister, Benjamin Netyanhu, lauded the decision calling it a remarkable contribution to the Israeli security industry and to the Israeli economy.