Military Drone/ Unmanned Aerial Vehicle Market Growth Factor By Top Key Players: BAE Systems, Aerovironment, Boeing, General Atomic, China Aerospace, Israel Aerospace Industries, Leonardo, Northrop Grumman, Textron Systems, Lockheed Martin

Military Drone/ Unmanned Aerial Vehicle Market growth is credited to increasing investments in the drone technology by military and defense departments. The government across the countries are spending heavily to increase their UAV fleet size. The U.S. federal government has allocated approximately 4.5 billion for drone procurement in the 2017 budget proposal. The proposal indicates a paradigm shift in the technology, as the major drone procurement program was launched, with the funding assigned for new research and development. Similarly, the government of India has also formed an alliance with the General Atomics to deliver 22 sea guardian drones worth approximately USD 2.0 billion. The South Korean government has also announced a five-year plan to invest more than USD 1 billion in the industry for the next five years.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/2484

The demand from government applications, especially for traffic monitoring and police operation & law enforcement is driving the military drone/ unmanned aerial vehicle market. The traffic departments around the world have started testing and deploying drones to monitor and manage urban traffic systems. They also provide a live broadcast of traffic jams during peak hours enabling quick dispatching on patrol units to ease the congestion.

The advancements in the UAV technology will also foster the military drone market growth. The integration of advanced machine learning algorithms and artificial intelligence in the drones will fuel their demand for traffic monitoring, surveillance, and spy applications. However, the safety and security issues associated with the use of drones and stringent government regulations across the countries are estimated to hinder the military drone/ unmanned aerial vehicle market growth.

Drones used as UAVs or Remotely Piloted Aerial Systems (RPAS) by armed forces are making significant contributions to their warfighting capabilities. In war zones, drones enable enemy tracking, reconnaissance of unknown areas/buildings and force protection. As these machines are becoming increasingly smaller, quieter, lighter with better optics, increased battery-life, fuel capacity, and flight times, militaries are expected to deploy more drone-based attacks and defense systems to avoid the risk of harming human resources.

Military Drone/ Unmanned Aerial Vehicle Market in 2016 was estimated to be over USD 5 billion, and will have a market value of more than USD 13 billion by 2024.

Growth Drivers:

• Venture capital investment in drone technology
• Modernization initiatives taken by armed forces across the globe
• Increasing internal and external security threats
• Advancement in design and integrated data intelligence
• Growing demand from developing economies

Make an inquiry for buying this report @ https://www.gminsights.com/inquiry-before-buying/2484

Military drone/ unmanned aerial vehicle market adoption for border patrolling applications is gaining momentum due to their capability to effectively monitor borders without serious collateral damages and ensuring the safety of the border security personnel. In September 2017, the U.S. Customs and Border Protection Agency began testing small drones for border surveillance in operational sectors in Arizona, Texas, and Vermont. The drones were evaluated for their capabilities for intelligence, reconnaissance, surveillance, tracking, and acquisition in regions that are at a high risk for ground personnel and manned aircraft. In November 2017, the Indian Army to maintain a strict vigil at the China and Pakistan border accepted tender inquiries for acquiring 600 mini UAVs. Due to consistent infiltration bids at the Pakistan border, UAVs will be procured for the infantry battalions of the Indian Army.

Asia Pacific region is estimated to grow fastest in the military drone/ unmanned aerial vehicle market with a CAGR of 17.6%, owing to the increase in the use of UAVs in countries such as Japan, China, Australia, and India, where there are opportunities in abundance for traffic monitoring, border management, and surveillance. South Korea is estimated to emerge as a market leader in drone technology in the APAC region because of its government’s firm commitment towards heavy investment in drone for varied applications and use cases.

Military drone/ unmanned aerial vehicle market is characterized by the presence of major aerospace design and manufacturing companies. The major vendors of drones are General Atomic, Northrop Grumman, Lockheed Martin, Boeing, BAE Systems, Inc., Israel Aerospace Industries Ltd., China Aerospace, Aerovironment, Inc., Leonardo, and Textron Systems.

Browse key industry insights spread across 350 pages with 427 market data tables & 40 figures & charts from the report, Military Drone/Unmanned Aerial Vehicle (UAV) Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/military-drone-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com

This release was published on openPR.