Military Drones Market- Industry Size, Trends, Global Growth, Insights and Forecast Research Report 2028

The global Military Drones Market was valued at US$ 12,186.42 million in 2022 and is expected to reach US$ 19,559.50 million by 2028; it is expected to register a CAGR of 8.6% from 2023 to 2028.

A cargo air vehicle (CAV), used to carry different materials, is one of the latest drone technologies. Transportation of goods through drones has proven benefits compared to traditional ways of transportation, such as helicopters and airplanes. Cargo drones are cheaper and more versatile than the abovementioned air carriers, and they require less maintenance. They have elevated carrying power and need no direct human involvement. Cargo drones are used to carry lifesaving supplies at dangerous locations reducing risk to human life. Owing to such benefits, governments have started considering the procurement of such drones in several operations. In December 2022, the Indian Ministry of Defense issued a Request for Information (RFI) for the list of potential vendors to procure 570 Logistic Drones (LD) for the Indian Army (IA). The vendors will be finalized on the two versions of drones based on altitude standards-up to 12,000 feet and above 12,000 feet.

Get Exclusive Sample PDF @: https://www.premiummarketinsights.com/sample/TIP00073790?utm_source=OpenPr&utm_medium=10640


The List of Companies -
1. Lockheed Martin Corp
2. Northrop Grumman Corp
3. Thales SA
4. Boeing Co
5. Elbit Systems Ltd
6. General Atomics
7. Textron Systems Corp
8. BAE Systems Plc
9. AeroVironment Inc
10. Israel Aerospace Industries Ltd.

Many military drone market players are engaged in providing drones that can lift heavy payloads and ease delivery services. For instance, Mistral Solutions Pvt. Ltd. designed its Mistral Xherpa heavy payload drone to withstand extreme environments at higher altitudes, and they can easily transport food, medical kits, and other necessities. These heavy payload drones can be used for military purposes as they can operate at altitudes ranging from 5,000 to 20,000 feet. These drones offer high efficiency at high altitudes and can operate in windy environments to transport essential goods, which helps save time and poses low a risk to human lives. Thus, with the increasing demand for drones for cargo operations, the availability of such drones is on the rise in the military cargo market, which indicates significant opportunities for the market players.

Get full Report Description, TOC, Table of Figure, Chart, etc. @: https://www.premiummarketinsights.com/reports-tip/military-drone-market

Another technological advancement in military drones is their capability to refuel manned vehicles in the air. This is considered as a major achievement in the era of manned-unmanned teaming operations. For instance, in September 2021, Boeing's MQ-25 Stingray drone refueled an F-35 joint strike fighter, as a part of the testing performed by the US Navy. With this, US Navy allocated a budget of US$ 16.8 billion for the MQ-25 Stingray drones to utilize their ability to refuel F-35Cs, F/A-18s, and other carrier-operated air platforms. In addition to their popular use in ISR and warfare applications, using military drones for refueling would increase their demand in the coming years. Thus, facial recognition, mid-air refueling of other aircraft units, and other technological advancements are likely to act as significant trends in the military drone market in the future and is expected to boost the military drone market size during the forecast period as well.

There is rapid growth in practices for developing locally made military drones in Asia Pacific. For instance, in March 2022, Malaysia-based Deftech launched a new locally made drone, Aludra EE, at DSA 2022 defense exhibition in Kuala Lumpur. These drones are developed to increase the security of the homeland, which will contribute to the military drone market. Moreover, the increase in the number of contracts for procuring military drones in Asia Pacific is another significant factor impacting the military drone market. For instance, in January 2022, Indian Army signed a deal with ideaForge to procure high-altitude SwitchBlade 1.0 drones to strengthen the surveillance activities along the Line of Actual Control (LAC).

In Rest of the World, there is a rapid rise in the adoption of military drones. For instance, Nigeria uses military drones for ISR operations against Boko Haram terrorists. Market players are developing solutions to cater to the demand for military drones for such situations. For instance, in October 2022, the Textron system announced that it had started the operational flights of its Aerosonde UAS, also known as Drone for the Nigerian Army. Further, the rise in contracts by the government for the procurement of military drones contributes to military drone market growth. For instance, in January 2023, Baykar Technologies signed a contract worth US$ 370 million with Kuwait Defense Ministry to deliver drones.

Buy this research report at @: https://www.premiummarketinsights.com/buy/TIP00073790?utm_source=OpenPr&utm_medium=10640


The military drone market analysis is segmented on the basis of type, application, range, and technology. Based on type, the military drone market is divided into group 1, group 2, group 3, group 4, and group 5. The group 3 segment held a larger military drone market share in 2022. Based on application, the military drone market is segmented into ISR, warfare, and others. The ISR segment contributed the largest military drone market share in 2022. Based on range, the military drone market is segmented into short range, medium range, and long range. The medium range segment contributed the largest revenue share in 2022. Based on technology, the military drone market is segmented into fixed wing and rotary wing. In 2022, the fixed wing segment led the market with largest military drone market share.

TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Dynamics
Continued…

Other Reports:
Cloud Computing Market New Business Opportunities and Investment Research Report by 2028 https://www.marketwatch.com/press-release/cloud-computing-market-new-business-opportunities-and-investment-research-report-by-2028-2023-05-11?mod=search_headline

Event Management Platform Market Emerging Analysis, Future Growth and Business Opportunities 2028 https://www.marketwatch.com/press-release/event-management-platform-market-emerging-analysis-future-growth-and-business-opportunities-2028-2023-05-11?mod=search_headline

Managed Network Services Market to See Wonderful Rise during 2022-2028 with High CAGR Growth https://www.marketwatch.com/press-release/managed-network-services-market-to-see-wonderful-rise-during-2022-2028-with-high-cagr-growth-2023-05-11?mod=search_headline

Contact Us:
If you have any queries about this report or if you would like further information, please
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email: sales@premiummarketinsights.com

About Us:
Premium Market Insights is a one stop shop of market research reports and solutions to various companies across the globe. We help our clients in their decision support system by helping them choose most relevant and cost-effective research reports and solutions from various publishers.
The market research industry has changed in last decade. As corporate focus has shifted to niche markets and emerging countries, a number of publishers have stepped in to fulfil these information needs. We have experienced and trained staff that helps you navigate different options and lets you choose best research solution at most effective cost.
Premium Market Insights has an extensive coverage of industry reports, company reports and country reports across all industries. In case your research needs are not met by syndicated reports offered by leading publishers, we can help you by offering a customized research solution by liaising with different research agencies saving your valuable time and money.
We provide best in class customer service and our customer support team is always available to help you on your research queries. Our commitment to customer service is best exemplified by free analyst support that we offer to our clients which sets us apart from any other provider. We also offer enterprise subscriptions which provide significant cost savings to our clients.

This release was published on openPR.