Press release
Riding High: Global Military Drones Market Predicted to Reach $21.93 Billion by 2029
Riding High
What Is The Projected Market Size Of The Global Military Drones Market And Its Growth Rate?
•The military drones market size was $15.93 billion in 2024 and is expected to reach $17.05 billion in 2025.
•The market is predicted to grow at a compound annual growth rate (CAGR) of 7.0% between 2024 and 2025, and at a CAGR of 6.5% up to 2029, when it will reach $21.93 billion.
•Growth can be attributed to strategic mergers, increasing use of 3D printing and the Internet of Things (IoT), and a focus on implementing autonomous systems and artificial intelligence (AI).
What Is Driving The Growth In The Military Drones Market?
Increasing government funding is significantly supporting the growth in the military drones market. Military operations are greatly benefiting from enhanced efficiency achieved through the use of drones. As predicted by the International Trade Administration and VUL (Association of Unmanned Aviation), there will be a 40% increase in the number of commercially used drones from 2022 to 2030, which will drive the demand for military drones.
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Who Are the Key Players Driving Military Drones Market Growth?
•Lockheed Martin Corporation
•Northrop Grumman Corp
•Thales Group
•The Boeing Company
•Raytheon Technologies
•General Atomics Aeronautical Systems, Inc
•Aerovironment, Inc
•Elbit Systems Ltd
•Israel Aerospace Industries Ltd
•Textron Inc
•Babcock International
•BAE Systems
•Panstwowe Wytwórnie Uzbrojenia
•Panstwowe Zaklady Inzynierii
•Polish Armaments Group
•Gyrofly Innovations
•Drone Livre
•Santos Lab
•Alexandria Shipyard
•Arab Organization for Industrialization
What Are The Key Trends In The Military Drones Market?
•Strategic mergers and acquisitions
•Increasing use of 3D printing
•Use of the Internet of Things (IoT)
•Focus on implementing autonomous systems
•Implementing emerging technologies such as artificial intelligence (AI)
What Are The Segments Of The Global Military Drones Market?
•By Drone Type: MALE, HALE, TUAV, UCAV, SUAV
•By Technology: Remotely Operated, Semi-Autonomous, Autonomous
•By Type: Fixed-Wing, Rotary Wing, Hybrid
•By Application: Search And Rescue, National Defense, Military Exercises, Other Applications
Which Region Leads The Military Drones Market?
In 2024, Asia-Pacific was the largest region in the military drones' market. However, Western Europe is expected to be the fastest-growing region during the forecast period. The report covers military drones' market shares in Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Military Drones Market Global Market Report?
- Market Size Analysis: Analyze the Military Drones Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Military Drones Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Military Drones Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Military Drones Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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