ID: MRFR/A&D/2521-HCR | February 2021 | Region: Global | 100 pages
Automated weapon systems such as radar, homing missiles, stationary sentry guns, and combat drones offer capabilities such as enhanced surveillance capabilities, precise target location, and real-time images of the targets. These capabilities assist security forces in providing increased safety to the citizens and keep the borders secured.
Factors such as rising territorial conflicts and geopolitical instabilities and the growing adoption of unmanned system solutions by military and defense forces are expected to drive the market growth. However, declining defense budgets of developed countries, including the US, and stringent government regulations regarding the manufacturing of border security systems might hamper the growth of the market.
Hence, the Automated Weapon System Market is projected to grow at 7.16% CAGR during the forecast period.
Segmentation of the Global Automated Weapon System Market
By application, the global automated weapon system market is segmented into land-based, airborne, and naval. The ground segment accounted for the largest market share in 2018. However, the airborne segment is expected to witness the highest growth during the forecast period. The growing demand for combat drones and target drones is expected to drive the growth of the segment.
Based on type, the global market has been segregated into radar-guided, homing missiles, stationary sentry guns, and combat drone. The radar-guided segment dominated the market in 2018. However, the combat drone segment is expected to grow at the highest CAGR during the forecast period. The growing adoption of combat drones by various countries such as the US and the UK for multiple applications, including border surveillance, is driving the segment growth.
By platform, the global automated weapon system market is divided into autonomous and semi-autonomous. The semi-autonomous segment accounted for a larger market share in 2018 and is expected to witness higher growth during the forecast period. The increasing interference by humans to control and monitor the weapon system is expected to drive the growth of the segment.
Based on the region, the market has been categorized as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America led the market in 2018. However, the market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period. Rising defense expenditure of countries such as China and India and increasing territorial conflicts in the region are driving the market growth in the region.
The key players in the global automated weapon system market are Northrop Grumman Corporation (US), Lockheed Martin Corporation (US), Thales Group (France), BAE Systems Plc (UK), Israel Aerospace Industries Ltd (Israel), Boston Dynamics (US), Aerovironment Inc. (US), Turkish Aerospace Industries Inc. (Turkey), Saab AB (Sweden), and General Dynamics Corporation (US).
The market values and forecasts are derived using MRFR research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
MRFR offers report customization to valued customers. Below are the options available for customization:
In-depth profiling of additional market players (3 to 4 companies)
Detailed analysis of a country-level market and related segments as per the report scope (subject to data availability)
Frequently Asked Questions (FAQ) :
Automated weapon system market can rise at 7.16% CAGR by 2025.
By 2025, the automated weapon system market can earn decent value.
Boston Dynamics (US), Israel Aerospace Industries Ltd (Israel), Aerovironment Inc. (US), and BAE Systems Plc (UK) are some well-established automated weapon system market players.
Increase in need for radar guided solution to support automated weapon system market.
APAC automated weapon system market value can surge at high pace.