Press release
Military Drone/UAV Market Growth by Top Companies: AeroVironment, Airbus Group Inc., BAE Systems, Boeing, Dassault Aviation, Elbit Systems Ltd, Leonardo, Lockheed Martin, Northrop Grumman, Raytheon, Saab, Singapore Aerospace mfg, Textron
Military Drone/Unmanned Aerial Vehicle (UAV) Market
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.
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The advancements in the UAV technology will also foster the military drone/UAV 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 market growth.
Military Drone/UAV Market will have a market value of more than USD 13 billion by 2024, with a fleet size exceeding 18 thousand units; according to a new research report by Global Market Insights, Inc.
The military drone/UAV 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.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. AeroVironment
2. Airbus Group Inc.
3. BAE Systems
4. Boeing
5. Dassault Aviation
6. Elbit Systems Ltd
7. Leonardo
8. Lockheed Martin
9. Northrop Grumman
10. Raytheon
11. Saab
12. Singapore Aerospace mfg
13. Textron
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Military Drone Market, By Product
• Fixed Wing
• Rotary Wing
•Hybrid
Military Drone Market, By Technology
• Remotely Operated
• Semi-autonomous
• Autonomous
Military Drone Market, By Range
• VLOS
• BVLOS
• EVLOS
Asia Pacific military drone/UAV market is anticipated to grow at a CAGR of 17% during the forecast period. The growth of the market is attributed to the growing demand for the drones from the developing economies including India and China. China accounts for more than 50% share in the Asia Pacific drone/UAV market, driven by the increasing investments by the Chinese government for the procurement of the drones. The government is focusing on enhancing the domestic production of drones to reduce the imports from the U.S. For instance, in July 2017, China started the production of the CH5 Rainbow that will cost half as compared to the U.S. MQ-9 Reaper.
The global military drone/UAV market is characterized by the presence of both major market players with diverse product portfolios and start-ups that provide niche products, solutions, and services. The major vendors in the military drone/UAV market are AeroVironment, Airbus Group Inc., BAE Systems, Bluebird Aero Systems Ltd., Boeing, CHINA AEROSPACE SCIENCE AND TECHNOLOGY CORPORATION, Dassault Aviation, Elbit Systems Ltd, General Atomic Aeronautical Systems Inc., IAI - Israel Aerospace Industries, Korea Aerospace Industries, Ltd., Leonardo, Lockheed Martin, Northrop Grumman, Raytheon, Saab, Singapore Aerospace mfg, Textron, Advanced VTOL Technologies
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.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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