Military Drone/UAV Market growth will be fostered by the advancements in the UAV technology | Global Venders include Leonardo, Lockheed Martin, Northrop Grumman, Raytheon, Saab, Singapore Aerospace mfg, Textron, AeroVironment, BAE Systems

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. 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.

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Military Drone/UAV 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.

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

Apart from purely military uses, these UAVs have been successfully deployed to carry out other government-controlled operations like search and rescue, wildfire containment, surveillance and law enforcement, further adding stimulus to military drone market. For instance, the Police Aviation Administration Office in China have put 300 police drones to patrol areas that are too difficult for the police to access. These drones have successfully collected information about drug manufacturing dens and have facilitated police raids in these areas. In the U.S., Predator B drones have been deployed for US Mexico border patrol to stop illegal border crossing across the remote mountains, rivers and canyons. These instances provide pivotal evidence that military drone/UAV market is here to stay.

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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.

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.

It has been anticipated that North America, by 2024, will be accounting for 70% of the overall military drone/UAV market share. This expansive growth can be aptly credited to the heavy adaptation of drones in civil applications and the ongoing ‘War on Terror’ that the U.S. is current involved in. Till date, the United States has carried out several lethal drone strikes in Pakistan, Somalia and Yemen. Incidentally, these are the countries that the U.S. and its allies are not openly at war with, as is the case with Afghanistan, Libya and Iraq. As a measure to extend the reach of the war against terrorism, the U.S. has also concentrated its drone campaigns in North Africa, using Predator drones for surveillance and targeting radical terrorist groups. Undeniably, U.S. has emerged as a viable revenue pocket for North America military drone market.

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The rise in the usability of advanced technologies such as artificial intelligence and IoT has also had a positive influence on military drone/UAV market outlook. Technology companies have naturally been proactive in this regard and are looking forward to launching innovative drone versions for defense operations with the development of machine learning software. Given that this is an issue of national security, these tech firms have also been collaborating with regional governments for developing smarter drone software systems.

The forthcoming years will witness military communities across the globe increasing their dependence on machines for defense and security purposes. This would call for substantial funding by various regional governments in drone development and advanced technologies. Most of the geographies across the globe have already increased their annual defense budget for deploying more unmanned drones for surveillance and safety purpose. This would perpetually augment the revenue graph of military drone market over the ensuing years. As per reliable estimates, military unmanned aerial vehicle (UAV) industry size will register an annual growth rate of about 12% over 2017-2024.

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

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