The military drones market is projected to grow from USD 12.2 billion in 2020 to USD 26.7 billion by 2027, at a CAGR of 11.9% from 2020 to 2027. The rising usage of drones in military applications is other factors fueling demand for the global military drones market in the coming years. The demand for the military drone market is expected to accelerate over the forecast timeline due to the rising need for drone technology for surveillance and reconnaissance activities.
The growing number of internal and external threats has compelled the government to use aerial imaging platforms to tackle challenging situations and promote public safety. Government agencies worldwide are supporting various drone manufacturers that develop high-tech drones to boost public safety. For instance, in December 2017, the French Defence Agency financed Elistairs Airwatch project, a small drone box for aerial surveillance. The system offers aerial surveillance support for crisis management, fire fighting, law enforcement, and perimeter security. Rapid advancements in drone technology to facilitate high-level ISR and combat capabilities will also spur market growth.
The growing usage of drones for military application is likely to stimulate demand for military drones market in the coming years. The research report details an exhaustive account of the global military drones market along with various related factors. Some of these factors that are comprised in the report are drivers, competitive analysis, restraints, latest trends and opportunities, geographical outlook, and many other aspects. The study covered in the report spans a forecast period from 2018 to 2028. From an overall perspective, the study is expected to exist as a valuable insight to businesses which are already operating in the global military drones market and for those who expect to newly establish themselves in this environment.
Increasing usage of UAVs for administrative functions such as police investigation and traffic monitoring are some of the key factors boosting demand for the global military drones market. The emergency response services which include disaster management and fire fighting are few major factors influencing growth of this market in the coming years. The drone can successfully track the traffic congestion are widely believed to be driving growth of this market in the upcoming years.
Growing defence budget and growing adoption of UAVs for several military applications are fueling demand for this market in the coming years. In addition, the military drones are increasingly used in defence sector for various applications such as monitoring, mapping and surveying, product delivery and for border surveillance.
Key players operating in the military drones market include General Atomics Aeronautical Systems, Inc. (GA-ASI) (US), Northrop Grumman Corporation (US), Elbit Systems Ltd. (Israel), Israel Aerospace Industries Ltd. (Israel), AeroVironment, Inc. (US), Lockheed Martin Corporation (US), Thales Group (France), and Boeing (US).
Asia Pacific will account for more than 15% of the military drone market share by 2025 due to growing investments in new drone technologies for developing high-tech drones to support military applications. Countries including China, Japan, India, and Australia are witnessing huge adoption of drones for the defence and government sector. For instance, in December 2017, the Chinese Military deployed reconnaissance-attack drones, Yilong-2 for spying purpose. The market growth in the region is also supported by the presence of various number of drone manufacturers who are continuously investing in advanced technologies to develop drones.
Report : Military Drones Market - By application (Intelligence, Surveillance, Reconnaissance, and Target Acquisition (ISRT), Delivery and Transportation, Combat Operations, Battle Damage Management) By Range (Visual Line of Sight (VLOS), Extended Visual Line of Sight (EVLOS), Beyond Line of Sight (BLOS)) By Propulsion Range (Battery Powered, Fuel Cell, Hybrid Cell) - Industry Analysis, Opportunity and Forecast 2020 To 2027