Press release
Global Military Robots Market hit a worth value of USD 52.07 billion by 2019-2026 Top Competitors are Lockheed Martin Corporation, QinetiQ, Cobham plc, General Dynamics Corporation, Elbit Systems Ltd. AeroVironment Inc., Thales Group, IMI Systems Ltd.
Global Military Robots Market
The Global Military Robots Market research report involves a thorough and specific investigation of the present business state offering bits of knowledge into market elements and key players. In addition to the authentic state of the market, this report likewise gives gainful market methodologies to understand and analyze the improvement of the market in the estimated time i.e. 2019-2026.
Market Analysis:
Global military robots market is driven by the use of robots for a new range of military applications and military modernization programs.
Global Military Robots Market is estimated to value of USD 52.07 billion by 2026, registering a healthy CAGR of 13.40% in the forecast period of 2019-2026.
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Major Market Competitors/Players: Global Military Robots Market
Few of the major competitors currently working in global military robots market are-Northrop Grumman Corporation, Lockheed Martin Corporation, QinetiQ, ENDEAVOR ROBOTICS, INC., Cobham plc, General Dynamics Corporation, Elbit Systems Ltd., UAV Factory, Rafael Advanced Defense Systems Ltd., AeroVironment, Inc., Thales Group, IMI Systems Ltd., BAE Systems., Saab AB, Raytheon Company., Boeing., EMBRAER and others.
Market Definition:
Military Robotics are autonomous robots that are specially designed for tasks like gunfire, rescue, airborne and for underwater surveillance, they are utilized to provide military with the capability for image capturing, bomb disposal and detect mines. All this advancement is due to automation in military industry which helps in providing better service and enhanced safety.
Market Drivers:
• Development of artificial intelligence and modern technology drives the market of military robots.
• Increasing terrorism activities worldwide is another factor driving market
• Increase in perfection due to replacement of soldiers with robots is also driving the market.
• Development in robotic technology is another factor driving market.
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Segmentation:
Key Developments in the Market
In February 2019, FLIR Systems, Inc. announced that they have acquired Chelmsford; mass.-based endeavor robotics. Endeavor robots has led to high demand because they take the place of soldiers in dangerous situations. This will benefit FLIR by strengthening their position in unmanned ground vehicles market for military, and by using advanced algorithms that uses AI and machine learning they can enhance the public safety.
In February 2016, iRobot, a U.S. based well known consumer robotics vendor sells its defense and security division to Arlington Capital Partners as they want to focus on its domestic robots market. This will also help them to expand their business in China and will help them to develop products related to home robot business.
Competitive Analysis:
Global military robots market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of military robots market for global, Europe, North America, Asia Pacific and South America.
Key Insights in the report:
• Complete and distinct analysis of the market drivers and restraints
• Key market players involved in this industry
• Detailed analysis of the market segmentation
• Competitive analysis of the key players involved
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