A military drone is a technical device that helps in surveillance duties. It operates as a miniature aircraft, which is mainly used for military purposes. Almost every nation around the world is using military drones for better surveillance, security, and information purposes. Thus, the global military drone market showing positive signs of growth. The increasing defense budgets to improve military arsenal is also expected drive the market for military drones.
The global military drone market is expected to be worth US$13235.72 mn by 2025 from US$9621.38 mn in 2019, surging at a CAGR of 6.59% from 2019 to 2025. QY Research discusses the future of the market in its latest report, titled “Global Military Drone Market Size, Status, and Forecast 2019-2025”, to help clients reach accurate and profitable business decisions.
Global Military Drone Market: Drivers
This growing usage of drones for military surveillance is likely to stimulate the global market in the coming years. The increasing concerns pertaining to national defense has created a need for stronger military arsenal. The global market is also being supported by the increasing budget for defense, emphasis on reducing the number of casualties, and improving technologies have collectively upped the demand for unmanned aerial vehicles (UAVs) for several military applications.
The military drones are used in various applications, such as mapping and surveying, monitoring, product deliveries in times of crises, and border surveillance. The military drones facilitate understanding of strategic locations during combat. Thus, efficiency in operations and accurate remote sensing are expected to bode well for the global military drone market.
Global Military Drone Market: Segment Analysis
The global military drone market is segmented on the basis of type and application. In terms of type, the market is segmented into fixed wing and rotary wing. The rotary wing is more in demand than the fixed wings as these can change direction more easily while flying. In terms of application, the market is split into national defense, military exercises, search and rescue, and others.
Global Military Drone Market: Regional Analysis
On the basis of region, the global military drone market is segmented into certain countries and regions such as the United States, EU, China, Japan, Southeast Asia, India, Central & South America, and other regions. The United States is the most powerful country when comes to producing and using military drones. The unique surveillance system and strong security in the border areas have increased the demand for the military drone in this country. China also has a strong defense arm, which is expected to drive the demand for drones in the country.
Global Military Drone Market: The Key Players
The key players studied in the global military drone market are General Atomics, Northrop Grumman, Lockheed Martin, Boeing, Textron, Airbus, AVIC, IAI, CASC, AeroVironment, and Thales Group.
Companies are looking at collaborations to leap ahead in terms of revenue in the global military drone market. A year ago, General Atomics Aeronautical Systems, Inc. teamed up with Boeing Autonomous Systems to collaborate on development of MQ-25. The market is expected to witness such collaborations and teamwork as companies vying for leading positions.
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