Global Military Drone Market Research Report Covers Historical Market Trends, Current Market Dynamics, Market Valuation by Segmentation as Well as Region, Country-level Analysis for Every Segment, Key Player’s Market Share Analysis, Competitive Landscape and Supply Chain Analysis.
The global military drone market is projected to witness a healthy period of growth during the timeline between 2017 and 2023. Market Research Future (MRFR) confirms this statement by mentioning that the global market will increase at a CAGR of 8% during the forecast period.
It is reported that the increasing adoption of military drones has drastically revolutionized the entire defense industry across the globe in a positive manner. This positive impact is fueling the demand for the global market. The efficient, safe, and secure option these drone offer further supports its growth wave.
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The global military drone market includes key players like –
- BAE Systems (U.K)
- General Atomics Aeronautical Systems Inc. (U.S.)
- American Dynamics (U.S.)
- Lockheed Martin (U.S.)
- Aeryon Labs Inc. (Canada)
- AeroVironment Inc. (U.S.)
- Boeing (U.S.)
- Israel Aerospace Industries Ltd. (Israel)
- AAI Corporation – Textron Systems (U.S.)
- Northrop Grumman Corporation (U.S.)
26th April, Altavian, US-based unnamed aircraft system manufacturing and engineering organization, announced that it has received a contract from the US army in regards to developing a military drone prototype.
The global military drone market segmentation is based in terms of drone type, payload type, and application.
By payload type, the market includes navigation systems, sensors, camera, and, others. The sensor segment is expected to hold a majority of the market share during the forecast period due to its widespread application across different commercial and military applications.
By drone type, the market divides into UCAV, MALE, SUAV, TUAV, and HALE.
By applications, the market comprises search, spying, and rescue, combat, and border security. The border security segment is anticipated to register the highest growth percentage over the forecast period owing to the increasing demand for emergency actions and preventive actions.
The global military drone market segmentation is based on the following regions: North America, Middle East & Africa, Asia Pacific, and Europe.
The North American market leads the global rankings in the military drone market with the highest share percentage to its name. The regional market is expected to witness considerable growth over the forecast period due to a number of important factors. This includes, the expanding investments by government and non-government institutions for research and development activities that is aimed towards advancing the existing technologies and the early adoption of technology herein. The US holds the key role in the North American military drone market and contributes significantly to the growth of the region. The country has widened its application of such drones for the purpose of fighting and tackling terrorism and also for internal law enforcement activities.
The European regional market holds the second spot in the military drone market and is another key player in the global scenario. The frequent terror attacks in Europe has prompted officials for new weapons and equipment. This has, in turn, aided the demand and subsequently the demand of military drones in the region. Its usage for safeguarding its people has led to its increasing usage. Another key factor acting as a major driver of the market in this region is the heightened usage of drones in diverse and complex environments. These drones are even used for high-risk roles like weather monitoring. All these have led to the rising demand for military drones in Europe and the coming years will see increasing traction of the product.
The Asia Pacific region is slated to witness profound growth and expansion during the forecast period. The fast-paced growth of the military drone market here in this region can be attributed to the large scale adoption of such drones in military bases. Additionally, the cross-border conflicts across different countries is expected to propel the growth of the market in this region. Also, the presence of major economies like India and China is ameliorating the use of such technology in Asia Pacific.
Lastly, the Middle East & Africa market is reported to experience decent growth due to the contribution made by countries like Israel, which is a highly established country in terms of its military and defense capabilities. The demand for the product in this region is expected to grow at a healthy pace during the forecast period.
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Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining Power of Buyers
3.1.3 Threat of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power of Buyers
3.2 Value Chain/supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
List of Tables
Table 1 Global Military Drone Market: by Region, 2017-2023
Table 2 North America Military Drone Market: by Country, 2017-2023
Table 3 Europe Military Drone Market: by Country, 2017-2023
Table 4 Asia Pacific Military Drone Market: by Country, 2017-2023
Table 5 Middle East & Africa Military Drone Market: by Country, 2017-2023
Table 6 South America Military Drone Market: by Country, 2017-2023
Table 7 Global Military Drone Market, by Payload Type, by Regions, 2017-2023
Table 8 North America Military Drone Market, by Payload Type, by Country, 2017-2023
Table 9 Europe Military Drone Market, by Payload Type, by Country, 2017-2023
List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
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