Military Drone Market to Garner Worth $34.34 Billion, Globally, by 2027 |Market Overview|

 

Military Drone Market Overview

Market Research Future (MRFR) anticipates the Military Drone Market to procure a growth rate of close to 12.50% Forecast to 2027

COVID-19 Analysis

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.

Market Dynamics

Drivers

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.

List of Key Companies Covered in this Report

·                     American Dynamics (U.S.)

·                     General Atomics Aeronautical Systems Inc. (U.S.)

·                     Israel Aerospace Industries Ltd. (Israel)

·                     Lockheed Martin (U.S.)

·                     AeroVironment Inc. (U.S.)

·                     AAI Corporation – Textron Systems (U.S.)

·                     Aeryon Labs Inc. (Canada)

·                     Northrop Grumman Corporation (U.S.)

·                     BAE Systems (U.K)

·                     Boeing (U.S.)

·         Segment Overview

·         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.  

·         Regional Analysis

·         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.

Browse More Details On Report At: https://www.marketresearchfuture.com/reports/military-drone-market-1667

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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Market Research Future (part of Wantstats Research and Media Private Limited), 99 Hudson Street,5Th Floor, New York, New York 10013, United States of America

Email: sales@marketresearchfuture.com

 

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