Military Drones Market by Type, Range, Application, Propulsion, Endurance, Maximum Take-off Weight, Launching Mode by Thales Group, General Atomics, Northrop Grumman Corp, Elbit Systems Ltd., Israel Aerospace Industries Ltd., Lockheed Martin Corp by 2030
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COVID-19 Scenario analysis:
• Due to COVID-19 situation, the research & development in military drone companies across the globe has been hampered because of the declared lockdowns and government restrictions on public gatherings.
• As governments spending shift towards economic recovery due to COVID-19 pandemic, industries may experience reduction in quantity of order for military drones.
• Production rate of military drone making companies have been affected adversely due to COVID-19 situation.
• Cancellation of several military exercises between nations and reduction in military activities worldwide due to COVID-19 has been impacting adversely to military drones market as demand relevant spare parts is also low.
• Post COVID-19, military drones market can see a significant growth as several countries have either already ordered or planning to procure military drones for their forces.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Rise in use of drones for combat missions, increase in the role of military drones for ocean surveillance and cost effectiveness as compared to manned aircraft are the factors which drive the military drones market. However, lack of skilled manpower for operating the drones may hamper the military drones market. Although technological advancements such as increase in endurance limit can be opportunistic for the military drones market.
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Rise in use of drones for combat missions
Countries such as USA, Israel, and China are widely using drones for military activities. At instance, USA killed Iranian general Qassem from MQ-9 Reaper drone on January 2020. Israel is reportedly conducting several operations using military drones. Further, India have ordered more than 50 combat drones from Israel and there are ongoing discussions with USA for procurement of long-range drones. Hence, rising use of drones worldwide will generate significant demand in the future.
Increase in use of drones for ocean surveillance
Low operational cost when compared with the manned surveillance aircraft and high endurance limit of military drones have resulted in increase of drones for maritime ocean surveillance, which is also expected to affect the growth of military drones market positively.
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Key benefits of the report:
• This study presents the analytical depiction of the military drones industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the military drones market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the military drones market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed military drones market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the military drones market research report:
• Which are the leading market players active in the military drones market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
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