DUBLIN, Aug. 4, 2023 /PRNewswire/ — The “Military Drones Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.
The global military drones market will grow from $14.54 billion in 2022 to $15.88 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The military drones market is expected to grow to $20.64 billion in 2027 at a CAGR of 6.8%.
The military drone market consists of sales of military drones for purposes such as operations, surveillance, mapping, communication, and equipment delivery in military. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Asia Pacific was the largest region in military drones market in 2022. Western Europe is expected to be the fastest growing region in the forecast period. The regions covered in the global military drones market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The main types of military drones are fixed-wing, rotary-wing, and hybrid. A fixed-wing drone is a plane that doesn’t have a human pilot on board. Fixed-wing UAVs can be commanded remotely by a human or autonomously by onboard systems. The different types of drones include MALE, HALE, TUAV, UCAV, SUAV and involve various technologies such as remotely operated, semi-autonomous, autonomous. It is used in search and rescue, national defense, military exercises, and others.
Increasing government funding for military drones to enhance efficiency in military operations boosts the demand for the production of military drones. For instance, in May 2021, according to an article published by the National Defense Industrial Association, a US-based trade association for the United States’ government and defense industry, in fiscal year 2021, the US Defense Department allotted $7.5 billion for a range of robotic platforms and associated technologies.
For the purchase of unmanned systems, the Navy and Air Force each received about $1.1 billion; the Army received $885 million, the Marine Corps $70 million, and SOCOM $90 million. Hence, the increasing government spending on unmanned drones is driving the military drone market.
Drone swarm technology is growing in popularity in the military drone market due to its cost efficiency and high firepower. Drone swarms are a large group of small drones that coordinate with each other to perform actions such as a survey of enemy territories, search and rescue, and attacks on hostile objects.
Drone swarm technology involves the production of several small, cheap drones rather than one large, expensive drone, therefore offering military drone manufacturers and end-users efficiency in terms of cost and time. With the use of advanced swarm technologies, the military and armed forces can effectively carry out lethal drone strikes in multiple places at once.
For instance, Microsystems developed a drone swarming system called the WOLF-PAK, which has the capability to fly small drones in groups and make them split away from the group whenever necessary. In February 2022, Halcon, a subsidiary of EDGE Group, a UAE-based provider of military weaponry and related technologies, unveiled the Hunter 2-S, a tube-launched swarming drone system. The Hunter 2-S is an unmanned aerial vehicle from the Hunter 2 series.
These drones are anticipated to communicate with one another in order to track targets, hold positions, and engage with the proper targets. The drones can communicate with each other through a main channel using a specific algorithm, which sends messages to all of the drones and assigns each one of them a specific mission to fly to the target.
The countries covered in the global military drones market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Major players in the military drones market are Northrop Grumman, Lockheed Martin, Boeing, AeroVironment, General Atomics, Textron, Elbit Systems, Israel Aerospace Industries, Thales, China Aerospace Science And Technology Corporation.
Key Attributes:
|
Report Attribute |
Details |
|
No. of Pages |
175 |
|
Forecast Period |
2023 – 2027 |
|
Estimated Market Value (USD) in 2023 |
$15.88 billion |
|
Forecasted Market Value (USD) by 2027 |
$20.64 billion |
|
Compound Annual Growth Rate |
6.8 % |
|
Regions Covered |
Global |
A selection of companies mentioned in this report includes
- Northrop Grumman
- Lockheed Martin
- Boeing
- AeroVironment
- General Atomics
- Textron
- Elbit Systems
- Israel Aerospace Industries
- Thales
- China Aerospace Science And Technology Corporation
- Aeronautics
- BAE Systems
- Ball Corporation
- Airbus
- IAI
- AVIC
- CASC
- Raytheon
- Saab
- Leonardo S.P.A
- Space Exploration Technologies Corporation
- Mitsubishi Electric Corporation
- Orbital ATK Inc.
- Planet Labs Inc.
- VTOL Technologies
Key Topics Covered:
1. Executive Summary
2. Military Drones Market Characteristics
3. Military Drones Market Trends And Strategies
4. Military Drones Market – Macro Economic Scenario
4.1 COVID-19 Impact On Military Drones Market
4.2 Ukraine-Russia War Impact On Military Drones Market
4.3 Impact Of High Inflation On Military Drones Market
5. Military Drones Market Size And Growth
5.1. Global Military Drones Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Military Drones Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Military Drones Market Segmentation
6.1. Global Military Drones Market, Segmentation By Drone Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- MALE
- HALE
- TUAV
- UCAV
- SUAV
6.2. Global Military Drones Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Fixed-Wing
- Rotary Wing
- Hybrid
6.3. Global Military Drones Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Remotely Operated
- Semi-Autonomous
- Autonomous
6.4. Global Military Drones Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Search and Rescue
- National Defense
- Military Exercises
- Others
7. Military Drones Market Regional And Country Analysis
7.1. Global Military Drones Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Military Drones Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/fz8zlx
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