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Autonomous Military Weapons Market Report By Key Companies, Regional Analysis And Forecast 2033
Autonomous Military Weapons Market
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According to The Business Research Company's, The autonomous military weapons market size has grown rapidly in recent years. It will grow from $14.68 billion in 2023 to $16.21 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to past conflicts & military strategies, r&d investments over time, regulatory milestones, past budget allocations, successes and failures.
The autonomous military weapons market size is expected to see rapid growth in the next few years. It will grow to $24.07 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to adoption by non-state actors, supply chain dynamics, public opinion & advocacy, geopolitical shifts, industry competition & innovation. Major trends in the forecast period include public perception and acceptance, collaboration and alliances, geopolitical tensions, ethical concerns, cost efficiency.
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Market Drivers and Trends:
The ability to perform dangerous tasks with precision has contributed to the growth of the autonomous military weapons market. Autonomy in weapons enables us to keep army personnel away from dangerous tasks or any imminent risk to human life. Besides this, increased reaction speed in decision making and eyes on the target will potentially increase accuracy. It has access to a larger amount of information, greater accuracy, and greater predictability for certain functions, freeing humans from dull or repetitive tasks and permitting access to environments that are inaccessible to remote control technologies. Major countries such as the USA, China, and Russia are significantly investing in artificial intelligence (AI) for weapons and are competing for superiority in this segment. For instance, Russia is investing $719 million until 2021 in AI research and development for weapons. The ability to hit the target without human involvement, along with minimizing risk to human life, increased the demand for the growth of the autonomous military weapons market.
Major companies operating in the autonomous military weapons market are focusing on developing innovative products, such as unmanned ground vehicles (UGV), to provide reliable services to customers. Unmanned ground vehicles, or UGVs, are vehicles that run on the ground without a human operator present. For instance, in September 2021, MSI Defence Systems Ltd., a UK-based manufacturer of defense and space systems, partnered with Milrem Robotics, an Estonia-based manufacturer of robotic vehicles, launched THeMIS, a highly mobile, unmanned kinetic C-UAV. It integrates with the Remote Weapon Systems (RWS) and Electrical Optical Sensor Systems from MSI-DSL. With these two products, the firms are providing a revolutionary solution for fighting mini-UAVs, loitering munitions, and other small, hard-to-spot aerial targets. The Northrop Grumman M230 gun and Thales LMM missiles are among the payloads it can transport, ranging in size from 7.62 to 30 inches.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
China North Industries Group Corporation Limited, Aviation Industry Corporation of China, Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Airbus Group Inc., Kalashnikov Concern LLC, China Aerospace Science and Technology Corporation, General Dynamics Corporation, Northrop Grumman Corporation, Mitsubishi Heavy Industries Ltd., Rostec State Corporation, BAE Systems plc, L3Harris Technologies Inc., Thales Group, Textron Inc., Kawasaki Heavy Industries Ltd., Rheinmetall AG, Elbit Systems Ltd., Israel Aerospace Industries Ltd., Saab AB, Kongsberg Gruppen ASA, Rafael Advanced Defense Systems Ltd., Bharat Electronics Limited, Palantir Technologies Inc., Kratos Defense & Security Solutions Inc., Denel SOC Ltd., Anduril Industries Inc., Savunma Teknolojileri Mühendislik ve Ticaret A.S., Matra BAe Dynamics
Autonomous Military Weapons Market 2024 Key Insights:
• The autonomous military weapons market size is expected to see rapid growth in the next few years. It will grow to $24.07 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%.
• The Advantages Of Autonomy In Military Weapons And Global Investments In Ai
• Innovations In The Autonomous Military Weapons Market
• Asia-Pacific was the largest region in the autonomous military weapons market in 2023
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