Military Drone Market Major Players Analysis and Forecast Until 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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