Press release
Loitering Munition Market Growth Accelerates US$ 1,221.41 Million Targeted by 2034 at 9.0% CAGR
Loitering Munition Market
Report Scope:
To give a comprehensive picture of the loitering munition market, the report focuses on the most recent innovations, market share, revenue generated, industry leaders, and geographical analysis.
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What Is Loitering Munition?
Loitering munition, also known as 'kamikaze drones' or 'suicide drones,' are unmanned aerial weapons designed to loiter over a target area, search for targets, and then attack once a target is located or command is given. They are designed to search for and engage targets, offering flexibility in attack timing and target selection, unlike cruise missiles that typically have a pre-programmed flight path. Some examples of loitering munitions include the Switchblade (drone) Lancet, and Geran-2 (also known as Shahed 136), used by Russia. Loitering munitions are being used in various conflicts, including the war in Ukraine, and are also being developed for roles such as long-range strikes, fire support, and short-range tactical systems.
Growth Drivers:
• The increasing need for precise strikes and progress in autonomous technology are fueling market expansion.
• The rising demand for affordable, efficient substitutes for conventional guided missiles is contributing to market growth.
• The rising need for accurate strikes in contemporary warfare fuels the growth of the loitering munition market.
• Increasing defense budgets, particularly in nations aimed at modernizing their armed forces, also plays a role in the growth of this market.
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Key Players in Market:
The market for loitering munitions is competitive, as companies aim to set their products apart by leveraging different technological innovations. Some of them include:
• AeroVironment, Inc. (AeroVironment)
• BlueHalo (BlueHalo)
• Denel Dynamics (Denel)
• Dynamics Group (Dynamics)
• Elbit Systems Ltd. (Elbit Systems)
• General Atomics Aeronautical Systems, Inc. (GA-ASI)
• Israel Aerospace Industries Ltd. (IAI)
• Kongsberg Gruppen ASA (Kongsberg)
• Kratos Defense & Security Solutions, Inc. (Kratos)
• MBDA (MBDA)
• Northrop Grumman Corporation (Northrop Grumman)
• Raytheon Technologies Corporation (Raytheon)
• Rheinmetall AG (Rheinmetall)
• Takyon Systems (Takyon)
• UVision Air Ltd. (UVision)
Loitering Munition Industry Developments
• December 2024: Elbit Systems secured two contracts worth approximately $175 million to provide Electronic Warfare (EW) and Directed Infrared Countermeasure (DIRCM) Self-Protection Suites to a NATO European country. The contracts will be executed over a five-year period.
• November 2024: AeroVironment announced its plans to acquire BlueHalo, a company specializing in drone defense systems and laser communication technologies, in an all-stock deal valued at approximately $4.1 billion. This acquisition is expected to strengthen AeroVironment's portfolio and enhance its expertise in counter-UAS systems, cybersecurity, and space technologies.
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Regional Analysis:
• North America holds the largest market share, mainly because of the region's advanced technological capabilities and substantial defense budgets.
• Asia Pacific loitering munition market is witnessing rapid expansion driven by rising military spending in the area and an increasing need for more sophisticated and precision arms.
Segmental Overview:
By Type Outlook
• Recoverable
• Expendable
By End User Outlook
• Army
• Navy
• Airforce
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