Military Drone Market to be dominated by North America region through 2027
The rise in government
funding for military drones and the growing demand for intelligence,
surveillance, and reconnaissance assets among armed forces are expected to
drive the demand for the global military drone market in the forecast period,
2023-2027.
According to TechSci Research
report, “Military Drone Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global military drone market is
anticipated to witness robust growth in the forecast period, 2023-2027. Several
countries witness border disputes due to disagreement
and possession about the control of land between two states. In some past
years, countries have faced territorial issues in countries like China, Nepal,
Bangladesh, Syria, Russia, and Israel, amongst others. These countries spend
exorbitant amounts to purchase surveillance drones to enhance
situational awareness and modernize the patrolling techniques. The growing
focus on lower operational costs and the number of causalities in hard-to-reach
locations is expected to fuel the sales of military drones across the globe.
However, the high cost
associated with modern systems and advanced electronics may restrain the global
military drone market growth in the forecast period.
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The global military drone
market is segmented into product type, technology, altitude, range, weight,
regional distribution, and competitive landscape.
Based on product, the market
is divided into fixed wing, rotary wing, and hybrid. Fixed wing aircraft are
expected to hold the largest market share in the forecast period, 2023-2027.
The military and defense sector has a high demand for fixed wing aircraft. The
main advantage of fixed-wing aircraft is their capacity to cover large
distances on a single battery and, therefore, can be used for surveillance and
monitoring processes. In case of complete failure, fixed wing military drones
can still continue flying and land safely without power. The most advanced and
powerful unmanned aerial vehicles are constructed in fixed-wing structures as
the fixed wing aircraft have excellent aerodynamics. The advantages offered by
fixed wing aircraft are expected to accelerate the segment demand over the next
five years.
Based on technology, the
market is divided into remotely operated drones, semi-autonomous drone, and autonomous
drone. Remotely operated drones are expected to capture the highest market
share in the forecast period. Majority of the unmanned aerial vehicles are
remotely operated due to stringent government regulations for long-range
autonomous flight. Remote controlling technology is used in telemetry systems
and in command-and-control systems to maneuver the drones based on their
requirements remotely.
Based on range, the market is
divided into the visual line of sight (VLOS), extended visual line of sight
(EVLOS), and beyond line of sight (BLOS). The extended visual line of sight
(EVLOS) segment is expected to capture the highest market share in the forecast
period. The rise in the use of extended visual line of sight unmanned aerial
vehicle applications for intelligence, surveillance, and reconnaissance
applications is driving the segment demand.
Major market players
operating in the global military drone market are:
·
Northrop
Grumman Corporation
·
Elbit
Systems Ltd.
·
Israel
Aerospace Industries
·
AeroVironment,
Inc.
·
Lockheed
Martin Corporation
·
The
Boeing Company
·
Thales
Group
·
Textron
Inc.
·
Raytheon
Technologies Corporation
·
BAE
Systems plc
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“The North American region is
expected to hold the largest market share in the forecast period, 2023-2027.
The use of military drones for border and maritime surveillance activities,
especially in countries like the United States and Canada, is driving the
military drones market demand in the region. United States research and
development funding rose by 24 percent, and they are focusing on next-generation
technologies. Manufacturers should focus on research and development activities
and enhance the performance and accuracy of the military drones to suit the
changing warfare technologies. The launch of novel advanced military drones by
the market players and the adoption of advanced technologies during the
manufacturing and designing process is expected to propel the global military
drone market growth till 2027” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Military Drone Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented
By Product Type (Fixed Wing, Rotary Wing, Hybrid), By Technology (Remotely
Operated Drones, Semi-Autonomous Drone, Autonomous Drone), By Altitude (HALE,
MALE, LALE), By Range (Visual Line of Sight (VLOS), Extended Visual Line of
Sight (EVLOS), Beyond Line of Sight (BLOS)), By Weight (Below 500 kg, 500-1000
kg, 1000- 2000 kg, Above 2000 kg), and By Region”, has evaluated the future
growth potential of global military drone market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global military drone market.
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