NEWS PROVIDED BYTechnavio
Jun 10, 2024, 06:02 ET
NEW YORK, June 10, 2024 /PRNewswire/ — The global military drone market size is estimated to grow by USD 8.50 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 12.21% during the forecast period. Recent developments in military drones is driving market growth, with a trend towards development of long-range spy combat drone. However, rapid development of anti-drone technology poses a challenge. Key market players include AeroVironment Inc., Airbus SE, Anduril Industries Inc., Animal Dynamics Ltd., Asteria Aerospace Ltd., BAE Systems Plc, EDGE Group PJSC, Elbit Systems Ltd., General Atomics, Israel Aerospace Industries Ltd., Leonardo Spa, Lockheed Martin Corp., Northrop Grumman Corp., Rafael Advanced Defense Systems Ltd., RTX Corp., Red Cat Holdings Inc., Saab AB, Shield AI, Teledyne Technologies Inc., Textron Inc., Thales Group, and The Boeing Co..
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| Military Drone Market Scope | |
| Report Coverage | Details |
| Base year | 2023 |
| Historic period | 2018 – 2022 |
| Forecast period | 2024-2028 |
| Growth momentum & CAGR | Accelerate at a CAGR of 12.21% |
| Market growth 2024-2028 | USD 8507.8 million |
| Market structure | Fragmented |
| YoY growth 2022-2023 (%) | 10.66 |
| Regional analysis | North America, APAC, Europe, Middle East and Africa, and South America |
| Performing market contribution | APAC at 35% |
| Key countries | US, China, UK, India, and Turkey |
| Key companies profiled | AeroVironment Inc., Airbus SE, Anduril Industries Inc., Animal Dynamics Ltd., Asteria Aerospace Ltd., BAE Systems Plc, EDGE Group PJSC, Elbit Systems Ltd., General Atomics, Israel Aerospace Industries Ltd., Leonardo Spa, Lockheed Martin Corp., Northrop Grumman Corp., Rafael Advanced Defense Systems Ltd., RTX Corp., Red Cat Holdings Inc., Saab AB, Shield AI, Teledyne Technologies Inc., Textron Inc., Thales Group, and The Boeing Co. |
Market Driver
The military drone market is experiencing significant growth due to the increasing use of UAVs in countermeasure operations. These unmanned aerial platforms are being equipped with advanced technology, including weapons and surveillance systems. China is a leading nation in UCAV development, investing heavily in R&D for military drones capable of long-range strikes.
The CH-5 drone, for instance, offers joint strike capabilities, allowing easy integration with existing military drone inventories. China has received export licenses for its CH-5 reconnaissance and combat drones and is seeking manufacturing licenses in other countries. These developments are expected to drive market growth during the forecast period.
The Military Drone market is experiencing significant growth, driven by advanced technology and defense needs. Systems such as Predator and Reaper drones are in high demand for surveillance and targeting operations. The use of drones for defense is expanding, with applications in border security, intelligence gathering, and combat missions.
The Systems are equipped with features like fixed wings, long endurance, and advanced sensors. Elbit and Vehlice are key players in this market, offering innovative solutions. Defense budgets continue to fund research and development, ensuring the market’s continued growth. The trend towards autonomous and unmanned systems is also driving demand. The market is expected to grow steadily, with increasing demand from various defense forces worldwide.
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Market Challenges
- The global military drone market is facing challenges due to advancements in anti-drone technology. Nations are developing defensive mechanisms to counteract drones used by other countries. Boeing’s 10 kW anti-drone laser cannon is an example, with plans to increase power to 60 kW.
- Modern lasers and lithium-ion battery technology are boosting energy storage and power density for defensive purposes. Russia is developing electromagnetic technology to disrupt drone electronics and communication. These developments may hinder the growth of the military drone market.
- The Military Drone Market faces several challenges in its development. One major challenge is the increasing need for advanced technology and security features to ensure the drones are not hacked or compromised. Another challenge is the regulatory environment, with various countries having different rules and regulations regarding the use of military drones.
- Additionally, there is a growing concern over privacy issues and the potential misuse of military drones. Furthermore, the high cost of developing and maintaining military drones is a significant challenge for many organizations. Lastly, the rapid advancement of technology means that companies must continuously innovate to stay competitive in the market.
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Segment Overview
- Type
- 1.1 Rotary Blade
- 1.2 Fixed Wing
- 1.3 Hybrid
- Technology
- 2.1 Remotely operated
- 2.2 Semi-autonomous
- 2.3 Autonomous
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 Middle East and Africa
- 3.5 South America
1.1 Rotary Blade- The rotary blade segment plays a significant role in the military drone market. This technology enables drones to lift off, hover, and adjust altitude, enhancing maneuverability and versatility. Rotary blades increase payload capacity, allowing drones to carry heavier equipment for various tasks, including reconnaissance, surveillance, and combat. Their unique composite material composition ensures durability and stealth, enabling clandestine operations and remote control. These advantages contribute to the growth of the rotary blade segment in the military drone market.
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Research Analysis
The Military Drone Market encompasses the design, production, and deployment of unmanned aerial vehicles (UAVs) for military applications. These drones play a crucial role in battlefield surveillance during asymmetric warfare, providing extended endurance for monitoring and reconnaissance. Military UAVs are employed for various purposes, including surveillance, mapping, and transportation.
They are integral to defense expenditure and have become increasingly important in combat operations. The integration of Artificial Intelligence (AI) in military drones enhances their capabilities, enabling advanced monitoring and response to hacking attempts. Military drones, such as MQ-1 Predator, contribute significantly to state policies by providing valuable insights and intelligence. The market for military drones continues to grow, driven by the increasing demand for advanced surveillance and reconnaissance capabilities.
Market Research Overview
The Military Drone Market is a significant and growing sector in the global defense industry. These unmanned aerial vehicles (UAVs) play a crucial role in military operations, providing real-time intelligence, surveillance, and reconnaissance (ISR). Drones are equipped with advanced technologies such as high-definition cameras, thermal imaging sensors, and communication systems.
They are used for various applications, including border security, disaster management, and tactical support. The market for military drones is driven by factors such as increasing defense budgets, technological advancements, and the need for enhanced security. The market is segmented based on types of drones, applications, and regions. The future of military drones looks promising, with continued innovation and development in the field.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
- Rotary Blade
- Fixed Wing
- Hybrid
- Technology
- Remotely Operated
- Semi-autonomous
- Autonomous
- Geography
- North America
- APAC
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio