The Global Military Drone Market Size was valued at USD 12.37 Billion in 2022 and the Worldwide Military Drone Market Size is expected to reach USD 38.21 Billion by 2032, according to a research report published by Spherical Insights & Consulting. Companies Covered: General Atomics Aeronautical Systems, Inc., Northrop Grumman Corporation, Teledyne FLIR LLC, Raytheon Technologies Corporation, Elbit Systems Ltd., Israel Aerospace Industries Ltd., AeroVironment, Inc., Lockheed Martin Corporation, Thales Group, Boeing, BAE Systems, Shield AI Inc., SAAB Group, Textron Systems and other key vendors.
New York, United States, Nov. 22, 2023 (GLOBE NEWSWIRE) -- The Global Military Drone Market Size is to Grow from USD 12.37 billion in 2022 to USD 38.21 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 11.9% during the projected period. The global military drone market has expanded as a result of increased military spending and increased demand for improved surveillance solutions.
Military drones are unmanned aerial vehicles that carry out a variety of missions such as intelligence gathering, surveillance, remote sensing, target tracking, and combat. Drone pilots are the people who operate these vehicles remotely. Military drones are used to gather intelligence on enemy movements, to scout during firefights, and to aid in manhunts. Furthermore, military drones are effective because they are less expensive than traditional military weapons and have become more accurate. Commercially, AI is being used to develop autonomous flight systems for high-altitude military drones. The rise of AI and self-driving cars will almost certainly boost the market. This advancement is expected to fuel future growth in the global market for military unmanned aircraft. Missiles and guided bombs make up the weapon payload. However, the expensive nature of UAV solutions is a factor impeding market growth. Furthermore, defense modernization is projected to provide opportunities for growth throughout the study period.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Military Drone Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Fixed Wing, Hybrid, and Rotary Wing), By Range (Visual Line of Sight (VLOS), Extended Visual Line of Sight (EVLOS), and Beyond Line of Sight (BLOS)), By Technology (Remotely Operated Drones, Semi-Autonomous Drones, and Autonomous Drones), By System (Airframe, Avionics, Propulsion, Payload, Software, and Others), By Application (Intelligence, Surveillance Reconnaissance and Targeting (ISRT), Combat Operations, Battle Damage Management, Logistics & Transportation), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
The fixed wing segment is expected to hold the largest share of the global military drone market during the forecast period. The global military drone market is divided into three product categories: fixed wing, hybrid, and rotary wing. The fixed wing segment is projected to account for the majority of the global military drone market throughout the forecast period. Fixed-wing UAVs can travel farther than rotary-wing drones. They are most distinct in terms of payloads, endurance ranges, and applications.
The extended visual line of sight segment is expected to hold the largest share of the global military drone market during the forecast period. The global military drone market is divided into three categories based on range: visual line of sight (VLOS), extended visual line of sight (EVLOS), and beyond line of sight (BLOS). The extended visual line of sight segment is projected to account for the majority of the global military drone market throughout the forecast period. The widespread adoption of EVLOS UAVs in long-range missions for data collection, battle management, and electronic warfare can be attributed to the rapid segmental growth.
The remotely operated drones segment is expected to hold the largest share of the global military drone market during the forecast period. The global military drone market is divided into three categories based on technology: remotely operated drones, semi-autonomous drones, and autonomous drones. The remotely operated drones segment is projected to account for the majority of the global military drone market throughout the forecast period. These unmanned aerial vehicles are typically used for monitoring, reconnaissance, and strike missions, with a human operator controlling their flight and payload.
North America holds the largest share of the global military drone market in 2022.
In 2022, North America have the biggest proportion of the global military drone market. Drone technology advancements have resulted in significant developments within the US military, and increased expenditures by key regional players have boosted market growth. The US is an important exporter of unmanned aerial vehicles, which is expected to drive regional growth. Lockheed Martin Corporation and General Atomic Aeronautics have previously received contracts for military HALE and MALE drones from NATO and major defense partners such as India.
During the forecast period, Asia Pacific is projected to expand at the highest rate in the global military drone market. Military spending increases by countries to improve defense capabilities can be attributed to market growth in this region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Military Drone Market include General Atomics Aeronautical Systems, Inc., Northrop Grumman Corporation, Teledyne FLIR LLC, Raytheon Technologies Corporation, Elbit Systems Ltd., Israel Aerospace Industries Ltd., AeroVironment, Inc., Lockheed Martin Corporation, Thales Group, Boeing, BAE Systems, Shield AI Inc., SAAB Group, Textron Systems, and Others.
In February 2023, The Indian Army announced that it is looking for 850 nano drones for special military operations, including surveillance and counter-terrorism operations.
Market Segment This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Military Drone Market based on the below-mentioned segments:
Global Military Drone Market, ByProduct Type
Fixed Wing
Hybrid
Rotary Wing
Global Military Drone Market, By Range
Visual Line of Sight (VLOS)
Extended Visual Line of Sight (EVLOS)
Beyond Line of Sight (BLOS)
Global Military Drone Market, By Technology
Remotely Operated Drones
Semi-Autonomous Drones
Autonomous Drones
Global Military Drone Market, By System
Airframe
Avionics
Propulsion
Payload
Software
Others
Global Military Drone Market, By Application
Intelligence, Surveillance Reconnaissance and Targeting (ISRT)
Combat Operations
Battle Damage Management
Logistics & Transportation
Global Military Drone Market, Regional Analysis
North America
US
Canada
Mexico
Europe
Germany
Uk
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Australia
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
Qatar
South Africa
Rest of Middle East & Africa
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