Press release
Defense Drone Market 2024 Analysis, Trends, Growth And Forecast 2033
Defense Drone Market
The Business Research Company offers in-depth market insights through Defense Drone Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
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
Major Driver - Defense Expenditure Surge Fuels Growth In The Defense Drone Market
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.
Competitive Landscape:
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.
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Top Trend - Strategic Collaborations Drive Innovation And Global Expansion In Defense Drone Market
Major companies operating in the defense drone market are undergoing strategic collaborations for developing innovative solutions to strengthen their position in the market. Strategic collaborations in the defense drone market accelerate innovation, optimize resources, mitigate risks, and enhance capabilities, fostering industry growth and competitiveness. For instance, in November 2022, Dedrone, a US-based manufacturer of counter-drone and counter-unmanned aerial system technology, and Johnson Controls PLC, an Ireland-based multinational conglomerate, Collaborate to Deliver AI/ML-Powered Airspace Security Worldwide. The partnership involves incorporating Dedrone's software and sensors into Johnson Controls' security offerings, creating a comprehensive airspace security solution. Johnson Controls' products will integrate Dedrone's AI/ML counter-drone technology, delivering cloud-based airspace security as a service globally. This collaboration empowers security industry leaders to safeguard diverse environments, from critical infrastructure to sports stadiums and events.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Defense Drone Market Characteristics
3. Defense Drone Market Trends And Strategies
4. Defense Drone Market - Macro Economic Scenario
5. Defense Drone Market Size And Growth
…..
27. Defense Drone Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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