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Global Loitering Munitions Market Size, Growth, Industry Trends | Emergen Research
The global loitering munition market size was USD 1.09 Billion in 2022 and is expected to register a revenue CAGR of 14.2% during the forecast period, according to the latest analysis by Emergen Research. Rising demand for advanced military warfare systems, rising demand for precise, efficient, and cost-effective military capabilities, increase in military friendly fire incidents, and rise in geopolitical tensions and conflicts are some of the major factors driving the market revenue growth.Loitering munitions are low-cost guided precision munitions that are flown in a holding pattern for a lengthy period of time and quickly attack land or sea targets away from the user's line of sight. At a relatively modest cost, these unmanned aerial vehicles carrying a warhead are increasingly used to target things such as tanks, military hardware, and soldiers. This invention is quickly transforming the battlefield and making ready-made air power available to non-state actors and nations with little financial resources. Modern warfare has seen an increase in the use of loitering weapons, often known as kamikaze drones, particularly in conflicts including the one in the Ukraine where they have been successfully used to destroy military hardware and other targets.,
which is driving revenue growth of the market. The development of this industry is being fueled by some of the major technological advances that are having an impact on loitering munitions, such as Artificial Intelligence (AI) and Swarm technology. Some lingering weapons, such as Kronshtadt's Molniya, have the ability to act in swarms. The usage of swarm technology enables munitions to perform a wider range of tasks and to replace alternative options in certain situations. AI is a crucial symbiotic technology since it helps the system become autonomous. The AI built into the system is essential to its ability to recognize targets, determine attack and attack profiles, and wave off attacks. In particular, large-scale deployment calls for AI for swarm technology.
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One of the major challenges restraining revenue growth of the market is concerns regarding surrounding false alarm rates and inaccuracy. The use of loitering munitions in a safe and effective manner on the battlefield is fraught with difficulties. First off, a suicidal flying weapon without human control raises questions about accountability in relation to International Humanitarian Law (IHL) and rules of armed conflict. These weapons will provide significant security and accountability challenges, particularly in the hands of aggressive non-state actors. In addition, lingering munitions rely on AI algorithms, which can occasionally make mistakes or have technical limitations. These flaws cause errors in judgment that can result in combat situations when blue-on-blue events, collateral damage, and unintended target engagement occur, which is restraining revenue growth of the market.
Key Growth Drivers:
Advancements in Military Technology: Technologies like Artificial Intelligence (AI) and swarm capabilities are transforming loitering munitions, allowing these systems to autonomously identify targets, decide on attack strategies, and even abort missions if necessary. AI integration boosts the autonomy of these systems, while swarm technology enhances their versatility by enabling coordinated multi-target operations.
Affordability and Effectiveness: Loitering munitions provide strategic air power at a lower cost, appealing to a wide range of military forces, including non-state actors. Their ability to operate without direct human control poses significant benefits in rapid-response situations.
Challenges Facing the Market: Despite their advantages, loitering munitions face challenges related to potential inaccuracies and false alarms, which can lead to unintended consequences such as friendly fire and collateral damage. The reliance on AI algorithms also raises concerns about errors and accountability under international humanitarian laws. These factors could hinder the broader adoption of loitering munitions and pose risks when used by unauthorized entities.
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Regional Outlook: North America led the market in 2022, driven by significant investments in defense technology, particularly in the U.S., where loitering munitions are increasingly incorporated into military strategies. For example, in June 2023, UVision USA launched its Hero 120 system from an airborne platform, demonstrating advancements in integrating loitering munitions into various military applications.
Strategic Initiatives: In May 2023, the Hellenic Defence System (EAS) and Paramount Industries Greece announced a partnership to co-produce the IRIX loitering munition. This collaboration aims to enhance Greece's domestic defense production capabilities and support future export opportunities.
Loitering Munitions Top Companies and Competitive Landscape
The global loitering munitions market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective loitering munitions solutions.
Some major companies included in the Loitering Munitions Market report are:
AeroVironment, Inc
WB GROUP.
Elbit Systems Ltd.
AEROSPACE CH UAV CO., LTD.
Anduril Industries
KWESST
UVision
ISRAEL AEROSPACE INDUSTRIES LTD
ZALA Aero Group
Rheinmetall AG
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Loitering Munitions Market Segmentation Analysis
For the purpose of this report, Emergen Research has segmented the global loitering munitions market on the basis of type, range, platform, and region:
Type Outlook (Revenue, USD Billion; 2019-2032)
Autonomous Identification and Positioning Loitering Munition System
Manual Positioning Loitering Munition System
Range Outlook (Revenue, USD Billion; 2019-2032)
Short-Range
Medium-Range
Long-Range
Platform Outlook (Revenue, USD Billion; 2019-2032)
Land/Ground
Air
Naval
Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
View Additional Related Reports:
Loitering Munitions Market Size- https://www.emergenresearch.com/industry-report/loitering-munitions-market/market-size
Loitering Munitions Market Share- https://www.emergenresearch.com/industry-report/loitering-munitions-market/market-share
Loitering Munitions Market Trends- https://www.emergenresearch.com/industry-report/loitering-munitions-market/market-trends
Loitering Munitions Regional Market Demand- https://www.emergenresearch.com/industry-report/loitering-munitions-market/regional-market-demand
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