In terms of revenue, the Global Military Drone Market is expected to reach USD 26.0 Billion by 2028, growing at a CAGR (Compound Annual Growth Rate) of 11.60% from 2022 to 2028.
Military Drone is led autonomously with the help of remote control or through both means and carries a different combination of sensors, electronic receivers & transmitters, and offensive weapons. These days, all key military powers and some armed force groups utilize battlefield surveillance UAVs to widen the sight of the ground and naval forces as well as to increase the reach & accuracy of their supporting fire. Furthermore, several governments' investments to strengthen military and defense are anticipated to propel the Global Military Drone Market growth.
ISR is the primary use for military UAVs. The first UAVs were known as drones or remotely piloted vehicles (RPVs) and were small radio-controlled aircraft first used in World War II to aim training for fighters and antiaircraft guns. Military UAVs are being developed for several tasks, including strike missions, electronic attack (EA), combat search and rescue, communication relays, suppression/destruction of enemy air defenses (SEAD), and network nodes.
Key Highlights from Report
· Among Types, the Fixed-wing segment is anticipated to dominate the Military Drone Market. This is due to the premium structure quality that helps long-distance surveillance and defense operations. Moreover, fixed-wing drones use wings to move upward from the ground at the time of take-off, like airplanes. Also, they need engines to provide them a forward thrust, whereas wings offer them the required vertical lift for flying. In addition, the fixed-wing segment is further divided into vertical take-off and landing (VTOL) and conventional take-off and landing (CTOL).
· The ISRT sub-segment of the Application segment accounted for the largest market share. This segment is likely to flourish owing to the part of UAVs in defense production in place of combat operations. Such flying machines are intended for vital information and collecting data on the terrorist area. Besides, the air force, army, navy, and other security agencies have recently been utilizing the UAV for transportation and logistics.
· North America held the Military Drone Market share in 2021 and is anticipated to be the most profitable market during the forecast period. This surge is because of the fast advancements in the US military, the presence of leading market players, and the increased investment by prominent market players in this region. In addition, the presence of various OEMs like General Atomics Aeronautical Systems Inc., Northrop Grumman Corporation, and others in the U.S. region is driving regional market growth. Moreover, the U.S. is one of the most dominant exporters of military UAVs globally, which will propel regional development in the future.
The growth of the Global Military Drone Market can be attributable to significant factors such as the increasing government funding for Military Drone to develop the efficiency of military operations. This will likely fuel the demand and boost the production. Also, the growing military expenses and rising procurement of Military Drone from the defense air force will drive the growth of this market. Moreover, the increase in cross-border conflicts in some countries will help this market to develop. For example, in recent years, Russia, China, Saudi Arabia, and India have invested highly in purchasing and upgrading the defense system. In addition, many countries invested a lot in strengthening their defense forces, possibly stimulating market development. These aspects are expected to increase the Military Drone Market demand during the forecast period.
Asia Pacific military drone market is anticipated to observe significant market growth with the highest CAGR in the coming years. The region’s market growth can be attributable to the increasing military expenses of countries to improve their defense potential. Moreover, the political tensions in Asia Pacific are leading to the deployment of drones to protect the security of the borders. This, in turn, provides the vital factors driving the market growth in this region. Besides, China is developing innovative technologies to manufacture low-cost drones.
The Global Military Drone Market is Segmented as follows
- Intelligence, Surveillance, Reconnaissance, & Target Acquisition (ISRT)
- Delivery & Transportation
- Combat Operations
- Battle Damage Management
- Visual Line of Sight (VLOS)
- Extended Visual Line of Sight (EVLOS)
- Beyond Line of Sight (BLOS)
- Propulsion Type
- Battery Powered
- Fuel Cell
- Hybrid Cell
- <1–2 Hours
- 2–6 Hours
- >6 Hours
- Launching Modes
- Vertical Take-off
- Automatic Take-off & Landing
- Catapult Launcher
- Hand Launched
- <25 Kilograms
- 25–150 Kilograms
- >150 Kilograms
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Military Drone Market is
General Atomics Aeronautical Systems Inc. (GA-ASI) (US), Northrop Grumman Corporation (US), Elbit Systems Ltd. (Israel), Israel Aerospace Industries Ltd. (Israel), AeroVironment Inc. (US), Lockheed Martin Corporation (US), Thales Group (France), Boeing (US)
The Global Military Drone Market Scope can be Tabulated as below
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|