Global Military Drone Market worth $17.0 billion by 2027

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Global Military Drone Market worth
17.0 billion by 2027
The report on the Military Drone Market provides
an analysis of the market from 2019 to2027. It
discusses industry and technology trends
currently prevailing in the market, along with
drivers, restraints, challenges, and
opportunities that influence the growth of the
market. The military drone market is projected to
grow from USD 12.0 billion in 2022 to USD 17.0
billion by 2027, at a CAGR of 7.3 from 2022 to
2027. The military drone market in the Asia
Pacific region is expected to witness the
highest growth during the forecast period. The
growth of the market in this region can be
attributed to the rise in military spending
(both in defense and homeland security) by
countries in the region to enhance their
defense capabilities by procuring new and
advanced defense systems, which include a large
number of UAVs with huge payload capacity for the
delivery of cargos. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id221577711 Based on platform, the military
drone market is segmented into small, tactical,
and strategic. Small drones are further
segmented into nano, micro, and mini. The
tactical drones are classified into close range,
short range, medium range, and long range, and
strategic drones divided into HALE and MALE. The
small segment is estimated to account for a
negligible share (3.2) of the military drone
market in 2022 owing to the low prices of the
small military drones, although, by volume, small
drones constitute the majority of the market
share. The strategic segment is estimated to hold
the major share of the market in 2022 and is
expected to maintain its dominance during the
forecast period owing to the high price of
HALE. Based on application, the military drone
market has been segmented into UCAVs, ISR, and
delivery. The ISR segment is estimated to account
for the largest share of the military drone
market in 2022. The demand for small and tactical
drones is increasing in military applications to
gather improved battlefield intelligence. They
help in monitoring enemy activities or specific
areas and send videos to ground stations
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through GPS. These drones are deployed for ISR
operations to record information related to
potential targets that are otherwise difficult to
identify. The market for drones used in military
applications is projected to witness high growth
during the forecast period owing to the
increased surveillance potential of these UAVs.
For instance, in January 2021, the Indian Army
signed a contract worth USD 20 million to obtain
high-altitude drones from ideaForge. The SWITCH
UAV of ideaForge is an indigenous UAV developed
to be used for the most challenging surveillance
operations carried out by the Indian Armed
Forces. This UAV is a fixed-wing vertical
take-off and landing (VTOL) drone used for
high-altitude flights in severe environments for
day and night ISR missions. Based on MTOW, the
military drone market has been segmented into
lt150 kilograms, 1501,200 kilograms, and gt1,200
kilograms. The gt1,200 Kg segment is estimated to
lead the military drone market during the
forecast period. The gt1,200 Kg MTOW segment
includes HALE, MALE, and some medium-range
medium-endurance drones and long-range medium
endurance drones. They can fly higher than 5,500
meters and are equipped with advanced radars,
communication systems, and electronic warfare
equipment. The increased geopolitical tensions
worldwide and the surge in the defense
expenditures of countries such as India, China,
and the US have led to an increased demand for
military drones as they enhance the defensive and
stealth capabilities of a country. Drones with
gt1,200 Kg MTOW are high-altitude ISR drones with
advanced payloads and ammunitions such as
air-to-air missiles and air-to-ground missiles.
The increased adoption of combat drones by armed
forces worldwide drives the gt1,200 Kg MTOW
segment. In May 2021, Poland announced the
procurement of the Turkish Bayraktar TB2, a MALE
unmanned combat aerial vehicle, from
Turkey. Based on speed, the military drone market
has been segmented into subsonic and supersonic.
The subsonic segment has been further divided
into lt100 Km/hr, 100 300 Km/hr, and gt300 Km/hr.
The subsonic segment contributed to the majority
share of the market as currently, most military
drones operate at conventional subsonic speeds.
Subsonic drones are UAVs with speeds ranging from
Mach 0 (stand- still) to a bit slower than the
speed of sound (to be precise, Mach 0.8). The
subsonic segment registered a larger market
share in 2021. This growth is attributed to an
increase in demand for high subsonic and fully
autonomous drones. This factor further led to
the increased interest of key players in the
development of modern drones for combat
missions. For instance, in March 2019, the Air
Force Research Lab (US) partnered with Kratos
Unmanned Aerial Systems (US) for the flight test
of the XQ- 58A Valkyrie drone, a long-range,
high subsonic unmanned aerial vehicle. High-speed
target drones are used to simulate targets for
anti-ship missiles. Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id221577711
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