Military Drone Market: Study Navigating the Future Growth Outlook

According to our latest study on "Military Drone Market Forecast By Type (MALE, HALE, Tactical, and Small//Mini), Application (ISR, Warfare, Search & Rescue, and Others), Range (Short Range, Medium Range, and Long Range), Technology (Fixed Wing and Rotary Wing) to 2028 - COVID-19 Impact and Global Analysis - by Type, Application, Range, Technology, and Geography," the market is expected to grow from US$ 11.70 billion in 2021 to US$ 31.38 billion by 2028, it is estimated to grow at a CAGR of 15.7% from 2022 to 2028. Increasing Investments in Development of UAVs Across Military Sector Drive Military Drone Market Growth.

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Key Companies:
Northrop Grumman Corporation, Elbit Systems Ltd., Israel Aerospace Industries (IAI), Raytheon Technologies, Lockheed Martin Corporation, BAE Systems Plc, SaaB AB, Thales Group, Boeing,
Aviation Industry Corporation of China (AVIC)
The demand for military drones is mainly driven by the increasing investments in the development and deployment of drones across different defense applications, including surveillance, reconnaissance, combat, search and rescue, emergency supply transportation, and remote monitoring. Furthermore, the growing demand for swarm drone systems is likely to generate huge opportunities for the market vendors during the forecast period. In August 2022, the Indian army announced that it has equipped a swarm drone system equipped with cutting-edge technology that can identify targets using artificial intelligence-driven software.

In the ongoing military technology race, several countries are majorly focusing on enhancing their defense capabilities by developing, procuring, and deploying advanced warfare technologies, such as fixed wing and rotary wing UAVs along with different capabilities. There are various types of drones, such as MALE (Medium Altitude Long Endurance), HALE (High Altitude Long Endurance), Tactical UAVs, and Small/Mini UAVs, being considered for deployment across different armed forces. Also, many armed forces are replacing a large number of manned platforms with unmanned platforms, which is another major factor catalyzing the military drone market across different regions. These are also expected to replace an old generation of combat aircraft models across different military forces across the world in the future as per the current research and developments across the military drone market.

The military drone manufacturers are majorly focusing on the development of small-sized, micro-sized, medium-sized, and large-sized drones suitable for different types of military missions. For instance, the Elite Indian Commando force uses Black Hornet Micro Drones for surveillance, which will be used by Ukrainian forces to penetrate Russia defense forces also. In August 2022, the British government announced an additional aid for Ukraine worth of US$ 64 million that includes target spotting micro drones also. Similarly, in August 2022, Ukrainian military announced that it has acquired 800 units of Taiwan-made Revolver 860 Armed VTOL UAVs capable of carrying 8 units of 60mm mortars.

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MARKET DYNAMICS
Unmanned systems are being deployed across armed forces owing to increasing unmanned warfare and ISR operations. Also, the rising military expenditure across different countries are bolstering the development and procurement of UAVs across their military sector. For instance, in February 2020, the US army awarded a contract worth US$ 100 million to Skydio company to supply its X2D UAVs for the US Army's Short-Range Reconnaissance Program (SRR). Similarly, in March 2022, the Indian army awarded a contract to ideaForge to supply 200 units of Switch UAV systems for a period of two years wherein the company will deliver its first lot of 100 UAVs in 2022 and the remaining 100 units will be supplied in 2023.

Further, the development of miniature drone systems and the introduction of drone swarm systems by military drone manufacturers are supporting the adoption of drones across the military sector. For instance, in March 2022, the US army awarded a contract worth US$ 14 million to Virginia-based BlueHalo for HIVE small-unmanned aircraft swarm system (sUAS) of drones. Similarly, in September 2021, the Indian army awarded a contract worth US$ 15 million to NewSpace Research and Technologies for the supply of 100 swarm drones to the Indian army. Such instances are propelling the growth of military drone market globally.

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