(2023-2032) Military Drones Global Market Trends and Forecast Report | By Types, Applications, Regions And Players Northrop Grumman, Lockheed Martin, Boeing, AeroVironment, General Atomics
As per the Military Drones market report by The Business Research Company, increasing government funding for military drones to enhance efficiency in military operations boosts the demand for the production of military drones. For instance, in May 2021, according to an article published by the National Defense Industrial Association, a US-based trade association for the United States' government and defense industry, in fiscal year 2021, the US Defense Department allotted $7.5 billion for a range of robotic platforms and associated technologies. For the purchase of unmanned systems, the Navy and Air Force each received about $1.1 billion; the Army received $885 million, the Marine Corps $70 million, and SOCOM $90 million. Hence, the increasing government spending on unmanned drones is driving the military drone market.
The global military drones market size will grow from $14.54 billion in 2022 to $15.88 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global military drones market size is expected to grow to $20.64 billion in 2027 at a CAGR of 6.8%.
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Major competitors in the Military Drones market include Northrop Grumman, Lockheed Martin, Boeing, AeroVironment, General Atomics, Textron, Elbit Systems, Israel Aerospace Industries, Thales, China Aerospace Science And Technology Corporation.
The Military Drones market is segmented -
• By Drone Type: MALE, HALE, TUAV, UCAV, SUAV
• By Type: Fixed-Wing, Rotary Wing, Hybrid
• By Technology: Remotely Operated, Semi-Autonomous, Autonomous
• By Application: Search and Rescue, National Defense, Military Excercises, Others
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Military Drones market.
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Military drone refers to unmanned aerial vehicles that are specifically used for military purposes such as border surveillance, battle damage management, combat operations, communication, delivery, and anti-terrorism weaponry.
The Table Of Content For The Military Drones Market Include:
1. Executive Summary
2. Military Drones Market Characteristics
3. Military Drones Market Trends And Strategies
4. Military Drones Market - Macro Economic Scenario
5. Military Drones Market Size And Growth
28. Key Mergers And Acquisitions In The Military Drones Market
29. Military Drones Market Future Outlook and Potential Analysis
The "Global Military Drones Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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