Global Defense Drone Market Growth Prospects, Future Industry Landscape 2033 | Raytheon Company, The Boeing Company, Lockheed Martin Corporation, Airbus SE

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The Business Research Company presents an extensive market research report on the Defense Drone Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The defense drone market size has grown strongly in recent years. It will grow from $11.24 billion in 2023 to $12.15 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to rising security concerns, military modernization programs, border security and surveillance, counterterrorism operations, advancements in unmanned systems.

The defense drone market size is expected to see strong growth in the next few years. It will grow to $16.33 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to geopolitical tensions and threats, focus on maritime domain awareness, counter-drone technology development, military procurement programs, integration with command and control systems. Major trends in the forecast period include counter-drone technologies, dual-use applications, collaborations and alliances, regulatory framework development, environmental sustainability.

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Key Market Players:

Major companies operating in the defense drone market report are Raytheon Company, The Boeing Company, Lockheed Martin Corporation, Airbus SE, General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems Plc., Thales Group, L3Harris Technologies, Inc., Leonardo S.p.A., Elbit System Ltd., Israel Aerospace Industries Ltd., Teledyne FLIR LLC, Saab Group, Hindustan Aeronautics Ltd., General Atomics Aeronautical Systems Inc., QinetiQ Group plc, FLIR Systems, Inc., Turkish Aerospace Industries Inc., Textron Systems, Kratos Defense & Security Solutions, Inc., Insitu Inc., Yuneec International Co. Ltd., SZ DJI Technology Co., Ltd., Wisk Aero LLC, AeroVironment Inc., Parrot Drones SAS, Autel Robotics Co., Ltd., PrecisionHawk Inc., Ehang Holdings Limited

Market Drivers:

The increasing defense expenditure is expected to propel the growth of the defense drone market going forward. Defense expenditure includes all current and capital expenditures on the armed forces, including peacekeeping troops of defense ministries and other government organizations involved in defense initiatives, paramilitary forces, and military activities. Defense drones are widely used in military operations due to their flexibility, minimal crew engagement, and lower manufacturing and maintenance costs. For instance, in April 2022, according to a report published by the Stockholm International Peace Research Institute (SIPRI), a Sweden-based independent international organization that conducts research into conflict, armaments, and disarmament, the global defense expenditure increased by 0.7% in 2021, to $2,113 billion. Therefore, the rise in defense expenditure is driving the demand for the defense drone market.

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The defense drone market covered in this report is segmented -

1) By Product: Fixed-Wing Systems, Multirotor Systems, Other Products
2) By Range: Short Range, Medium Range, High Range
3) By Payload: Small Drones, Medium Drones, Large Drones
4) By Application: Intelligence, Surveillance Reconnaissance And Targeting (ISRT), Combat Operations, Other Applications

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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