Northbrook, IL 60062 -- (SBWIRE) -- 08/21/2023 -- Global Military Drone Market Size was valued at $12.0 Billion in 2022 and is projected to reach $17.0 Billion by 2027 at a CAGR (Compound Annual Growth Rate) of 7.3%. Military drones equipped with sensors, transmitters, and weapons can be guided autonomously, by remote control, or both. They are used for strategic and combat zone reconnaissance, and can also designate targets for precision-guided munitions or directly deploy them. This report offers insights into market trends, drivers, challenges, and opportunities in the military drone industry.
The earliest UAVs were known as remotely piloted vehicles (RPVs) or drones. They were small radio-controlled aircraft first used during World War II for target training for fighters and antiaircraft guns. Today, all major military powers and even some militia groups employ battlefield surveillance UAVs to extend the view of the ground and naval forces and to enhance the reach and accuracy of their supporting fire.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=221577711
Browse in-depth TOC on "Military Drone Market, Market trends, Market Report, Market Value, Market Forecast, Market Growth
Based on type, the fixed wing military drone segment is projected to grow at the highest CAGR during the forecast period
The military drone market Share has been segmented based on type into fixed wing, rotary wing, and hybrid. The fixed-wing segment has been further divided into conventional take-off and landing (CTOL) and vertical take-off and landing (VTOL), while the rotary wing segment has been classified into single rotor and multirotor.
Fixed-wing drones make use of wings to move upward from the ground during take-off, just like airplanes. They require engines to offer them a forward thrust, while wings offer them the required vertical lift to fly. Fixed-wing UAVs can fly longer than rotary-wing drones. They are most distinct in terms of their payloads, endurance ranges, and applications. The drawback of fixed-wing drones is the requirement of runways for their landing or take-off. Some examples of fixed-wing UAVs are MQ-9 Reaper and MQ-1 Predator from General Atomics (US) and RQ-4 Global Hawk from Northrop Grumman Corporation (US). Fixed-wing drones are further classified into conventional take-off and landing (CTOL) UAVs and vertical take-off and landing (VTOL) UAVs. The fixed-wing segment is projected to grow from USD 11,310 million in 2021 to USD 15,940 million by 2027, at a CAGR of 7.1% during the forecast period.
Based on operation mode, remotely piloted segment is estimated to account for the largest share in 2022
Based on operation mode, the military drone market Report has been classified into remotely piloted, optionally piloted, and fully autonomous. The remotely piloted segment is projected to grow at a significant rate during the forecast period. The growth of this segment can be attributed to the cost-effective usage of remotely piloted drones in several applications, ranging from defense operations to surveys. Optionally piloted drones deliver high maneuverability and are equipped with advanced technologies. They have comparatively low maintenance costs. These drones are anticipated to be substituted by fully autonomous drones in the coming years as they have high payload capacity, enhanced propulsion power, and long endurance, as well as can operate without any human involvement.
The Asia Pacific region is projected to Grow at highest CAGR during the forecast period
Asia Pacific military drone market outlook is expected to witness substantial growth and register the highest CAGR during the forecast period. The market growth in this region can be attributed to the rise in military spending of countries to enhance their defense capabilities. Political tensions in Asia Pacific countries have led to the deployment of drones to safeguard the security of their borders. This serves to be one of the most significant factors driving the growth of the market in this region. China is developing innovative technologies to manufacture low-cost drones.
Ask for Sample Report:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=221577711
Top Military Drone Companies - Key Market Players
The military drone companies are dominated by a few globally established players such as Northrop Grumman Corporation (US), Raytheon Technologies Corporation (US), Israel Aerospace Industries Ltd. (Israel), General Atomics Aeronautical Systems (GA-ASI) (US), and Teledyne FLIR LLC (US). These players have adopted various growth strategies such as contracts, joint ventures, partnerships & agreements, acquisitions, and new product launches to further expand their presence in the military drone market statistics.