Military Drone Market 2018 Global Analysis by Leading Key Leaders: Northrop Grumman Corporation, Aeryon Labs, American Dynamics, BAE Systems, Boeing, AeroVironment

Market Highlights:

According to a recent study report published by the Market Research Future, the global market for global military drone will grow at a rapid pace during the forecast period. The market is expected to witness slow but steady growth by 2023, which will be a growing fast at a moderate CAGR during the projected period (2017 -2023).
The growing investment by venture funding and increase in demand for drone-generated data in commercial application has an impact on the market. Moreover, the factor responsible for the growth of global military drone market is drones in the military application, integration of drone in the current warfare systems to combat or counter threats, and cost-effective as compared to manned aircraft. This is the primary factor that drives the growth of the global military drone market and has gained prevalence in the recent times, with the usage of best in class technologies in aircraft. Thus, the growth of the global military drone market is expected to go hand in hand with the growth of unmanned aerial vehicles in the aircraft industry.

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Competitive Dashboard:

AeroVironment Inc. (U.S.),
General Atomics Aeronautical Systems Inc. (U.S.),
Israel Aerospace Industries Ltd. (Israel),
Lockheed Martin (U.S.),
Northrop Grumman Corporation (U.S.),
AAI Corporation – Textron Systems (U.S.),
Aeryon Labs Inc. (Canada),
American Dynamics (U.S.),
BAE Systems (U.K),
Boeing (U.S.).

However, there are some shortcomings in the global military drone market, such as defense budget cut on the procurement of drones, limitation of endurance and flight range, and issues with battery technology of UAVs. Drones are widely used for gathering information about objects and earth surface. Thus, security and safety concerns, such as privacy and nuisance issues, are the key factors limiting the expansion of the drones market. Moreover, the rise in the number of drones will raise security issues due to capturing confidential data about a restricted area. Hence, security and safety concerns are among the key factors that limit the expansion of the drones market.

The factors that are responsible for the growth of the global military drone market are increased demand for drones in the military application, integration of drones in the current warfare systems to combat or counter threats, and cost-effectiveness as compared to manned aircraft. Other key drivers expected to contribute towards the growth of military drone market are increased focus of OEMs on aircraft MRO service and rapid aircraft fleet expansion.

The global military drone market is segmented based on payload type, drone type, application, and region. On the basis of payload type, the sensors are widely used and comprises majority of the market share due to wide used in many commercial and military applications. On the basis of applications, the border security and spying are estimated to witness the highest CAGR during the forecast period due to increased demand in operation of preventive action and emergency cases.

Segmentation

The global military drone market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Payload Type: Comprises Sensors, Camera, Navigation Systems and Others
Segmentation by Drone Type: Comprises MALE, HALE, TUAV, UCAV and SUAV
Segmentation by Applications: Comprises Spying, Search and Rescue, Border Security, and Combat
Segmentation by Regions : Comprises Geographical regions - North America, Europe, Asia-Pacific, Middle East & Africa and South America.

Regional Analysis:

By region, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and, South America. North America market will see exponential growth during the forecast period due to its early adoption of the technology coupled with considerable investments in research & development activities directed towards the advancement of the existing technology. The U.S. is a major contributor in this region both in terms of demand and supply. It has widened the application of its military drones for fighting terrorism as well as for internal law enforcement. The market in Europe holds the second spot with respect to market share and control. The frequent terror attacks in this region has fueled the demand for military drones for safeguarding its people. Another factor responsible for the growth of the market in this region is the usage of drones in diverse environments and high-risk roles such as weather monitoring.

Asia Pacific market is poised to witness tremendous growth due to large-scale adoption of military drones. The cross-border conflicts among the nations are propelling the demand for military drones in this region. Moreover, the presence of emerging economies such as India and China are accelerating the use of this technology in this region. The Middle East & Africa market will see growth with considerable contribution from players in countries such as Israel. The demand in this region is set to grow across the projection period.

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Target Audience

• Military Drone OEMs
• System/Equipment Suppliers
• Government Bodies
• Potential Investors
• Key executive (CEO and COO) and strategy growth manager

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