Dublin, Nov. 11, 2022 (GLOBE NEWSWIRE) — The “Military Drones Global Market Report 2022, By Drone Type, Type, Technology, Application” report has been added to ResearchAndMarkets.com’s offering.
The global military drones market is expected grow from $ 13.31 billion in 2021 to $ 14.19 billion in 2022 at a compound annual growth rate (CAGR) of 6.6%. The market is expected to reach $ 18.30 billion in 2026 at a CAGR of 6.6%.
The main types of military drones are fixed-wing, rotary-wing and hybrid. A fixed-wing drone is a plane that doesn’t have a human pilot on platform. Fixed-wing UAVs can be commanded remotely by a human or autonomously by onboard systems. The different types of drones include MALE, HALE, TUAV, UCAV, SUAV and involves various technologies such as remotely operated, semi-autonomous, autonomous. It is used in search and rescue, national defense, military excercises, others.
Asia Pacific was the largest region in military drones market in 2021. Western Europe is expected to be the fastest growing region in the forecast period. The regions covered in the global military drones market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Increasing government funding on military drones to enhance efficiency in military operations boosts the demand for the production of military drones. According to the report published by the Bard College Center for the Study of the Drone, in 2019, the U.S. Navy funding for unmanned systems increased by $1 billion (38%) and the U.S Army funding increased by $719 million (73%), when compared to 2018. Furthermore, the Department of Defense in the US requested approximately $9.39 billion for drones and associated technologies in the fiscal year 2019, representing a significant expansion of 26% in drone spending over the 2018 budget, which was $7.5 billion. Hence, the increasing government spending on unmanned drones is driving the military drones market.
The production and delivery are the two factors likely to limit the development of military drone’s market during 2020. The COVID19 outbreak impacted the supply chains for various industries including the auto industry, electronics industry, food industry, pharma industry, and defense industry across the globe.
Many manufacturing plants are operating at minimal capacities or have shut down their operations completely. According to Air Force Technology publication on 7th April 2020, COVID19 disrupted defense supply chains. The production and assembling activities have been stopped by the big companies owing to the COVID19 lockdowns. Therefore, the productions and disruptions are deteriorating the distribution and supply of military drones, which in turn, is expected to decline the military drones sales during 2020.
Drone swarm technology is growing its popularity in the military drones market due to its cost efficiency and high fire-power. Drone swarms are a large group of small drones that coordinate with each other to perform actions such as a survey of enemy territories, search and rescue and attacks on hostile objects.
Drone swarm technology involves the production of several small cheap drones than one large expensive drone, therefore offering military drone manufacturers and end-users efficiency in terms of cost and time. With the use of advanced swarm technologies, military and armed forces can effectively carry out lethal drone strikes in multiple places at once.
1) By Drone Type: MALE; HALE; TUAV; UCAV; SUAV
2) By Type: Fixed-Wing; Rotary Wing; Hybrid
3) By Technology: Remotely Operated; Semi-Autonomous; Autonomous
4) By Application: Search and Rescue; National Defense; Military Excercises; Others
Key Topics Covered:
1. Executive Summary
2. Military Drones Market Characteristics
3. Military Drones Market Trends And Strategies
4. Impact Of COVID-19 On Military Drones
5. Military Drones Market Size And Growth
6. Military Drones Market Segmentation
7. Military Drones Market Regional And Country Analysis
8. Asia-Pacific Military Drones Market
9. China Military Drones Market
10. India Military Drones Market
11. Japan Military Drones Market
12. Australia Military Drones Market
13. Indonesia Military Drones Market
14. South Korea Military Drones Market
15. Western Europe Military Drones Market
16. UK Military Drones Market
17. Germany Military Drones Market
18. France Military Drones Market
19. Eastern Europe Military Drones Market
20. Russia Military Drones Market
21. North America Military Drones Market
22. USA Military Drones Market
23. South America Military Drones Market
24. Brazil Military Drones Market
25. Middle East Military Drones Market
26. Africa Military Drones Market
27. Military Drones Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Military Drones Market
29. Military Drones Market Future Outlook and Potential Analysis
- Northrop Grumman
- Lockheed Martin
- General Atomics
- Elbit Systems
- Israel Aerospace Industries
- China Aerospace Science And Technology Corporation
- BAE Systems
- Ball Corporation
- Leonardo S.P.A
- Space Exploration Technologies Corporation
- Mitsubishi Electric Corporation
- Orbital ATK Inc.
- Planet Labs Inc.
- VTOL Technologies
For more information about this report visit https://www.researchandmarkets.com/r/cby9ge