Market Research Future (MRFR) anticipates the Military Drone Market to procure a growth rate of close to 12.50% Forecast to 2027
The COVID-19 outbreak and the subsequent lockdown have had a brutal impact on various industries, given the temporary shutdown of several manufacturing facilities and weakened consumer demand. The Military Drone Market has witnessed devastating effects of the SARS-CoV-2 pandemic, which has prompted vendors to focus more on bolstering their supply chains and accelerating their operations to develop a wider range of products, to capture the attention of the consumers once again. Also, with the lockdown being lifted up across countries and the novel coronavirus seemingly under control, the demand for UAVs and military drones has been picking up traction, resulting in market growth.
Drones Gather Traction Among Military Agencies for Multiple Applications
Several new worldwide military agencies are increasingly adopting drones to enforce law, combat missions and primarily to protect borders. The AV military drone market has been growing in view of the escalating demand for military drone equipment to cater to the rising need for advanced unmanned aerial vehicle (UAV). UAVs are witnessing huge deployment in military drones due to the rising expenses, mounting investments by venture funding and the massive demand for drone-generated data. The surging integration of advanced drones in the ongoing warfare systems to counter or combat threats, and their rising demand due to their cost effectiveness compared to manned aircraft also benefit the Military Drone Market.
Defense industry across various countries is highly focused on video monitoring and investigating, border security, remote surveillance, thermo graphic inspection, protection of infrastructure, law enforcement and fire-fighting, which require technically innovative tools and equipment. As a result, the demand for Military Drone Market has been soaring at a rapid pace and this could translate into substantial market growth over the forthcoming period.
Integration of AI Technology to offer Lucrative Opportunities
The artificial intelligence (AI) technology in drones has been a major game-changer for the global market. Several vendors are conducting exhaustive research and are developing drones that are integrated with various autonomous tools backed by AI as well as machine learning (ML) capabilities, which could emerge as a huge opportunity for the global Military Drone Market in the ensuing years.
It is expected that the future Military Drone Market will feature a multitude of signature management technologies and will work autonomously armed by AI/artificial intelligence. These drones will also include an array of electronic warfare (EW) capabilities and therefore, find deployment in a huge number of military applications.
Privacy Breach Issues to Emerge as a Key Challenge
Safety and security concerns as well as social issues like privacy breach are some of the major challenges that discourage the adoption of military drones. The lack of technical knowledge on how to operate these drones could also be a major challenge for players, in view of weakened demand.
Sensors Witnesses Extensive Military Applications
Various payload types considered in the report are navigation systems, camera, sensors and more. Sensors are the leading drone payload type-based segment, as these find widespread use in multiple military applications.
HALE Drone Type to Enjoy Significant Demand
The market segments, depending on drone type, include HALE, MALE, UCAV, SUAV and TUAV. High-altitude, long-endurance or HALE drone types enjoy massive demand as these are considered to be a lower priced and more technically feasible alternative to other types.
Spying and Border Security Applications to Grow at Fastest Rate
Various applications of military drones are search and rescue, spying, combat and border security. Out of these, spying and border security could witness the fastest growth in the coming years owing to the soaring demand for drones in tasks involving preventive action as well as for emergency cases.
North America Clinches the Top Spot
North America currently stands as the leading market, on account of the significant adoption rate of military drones resulting from mounting safety and security concerns as well as dearth in trained pilots. The U.S military drone market share is increasing rapidly, in view of frequent technical innovations allowing manufacturers to develop an extensive line of models in varying weights, shapes and sizes.
Europe to Secure the Second Position
The second most lucrative market is Europe, considering the extensive use of advanced military drones for maritime and border surveillance activities. The huge size of the military autonomous underwater drone market in the region and rising military spending in view of countries trying to strengthen their borders from hostile parties could also foster growth in the coming years. Apart from this, various vendors in the region are concentrating on conducting rigorous R&D activities in a bid to diversify their product range and expand their business via private partnerships and government contracts.
Military Drone Market Competitive Landscape
Players Focus on Innovation and Product Launch
A number of firms follow a variety of strategies such as partnerships, merger and collaboration to further establish their position in the global industry. In view of the surging warfare scenario across various countries and the growing demand, players are focusing primarily on developing new and innovative military drones to widen their customer base in the fiercely competitive market.
List of Key Companies Covered in this Report
MRFR has critically assessed the military drone size, taking into account the base year, projected period as well as the size during the given period. The market study also comprises some of the key developments post the COVID-19 outbreak in the market. Besides, the global vendors and the top strategies followed by them are also profiled in the MRFR report.
Scope of the Report
The scope of the report presents a clear picture of the all key developments inside a military drone market along with the latest business scenario as well as historical and the projected market size. The report also covers drone market trends, drone navigation system market, different types of military drones, defense drone payload market, drone market segmentation and more.
By Military Drone Market Payload Type
By Military Drone Market Drone Type
By Military Drone Market Application
Frequently Asked Questions (FAQ) :
Military Drone Market are used for enforcing law, combating missions and protecting borders.
The key growth boosters in the global market are the soaring demand for drones with military applications, rising use of drones in the ongoing warfare systems to counter or combat threats, and their cost-effectiveness compared to manned aircraft.
The global Military Drone Market is expected to accrue a growth rate of approximately 12.50% in the coming years.
North America can take the lead during the forecast period.
The border security and spying can witness the highest CAGR during the forecast period.
Defense budget constraints could be a major barrier for the Military Drone Market growth.
The factors that make North America the most profitable market include the high adoption rate of drones in various commercial and defense applications.