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Military Unmanned Aerial Vehicle (UAV) Market Size, Share, and Analysis, By Type (Fixed Wing, Rotary Wing, Hybrid), By Range (Visual Line of Sight, Extended Visual Line of Sight, Beyond Line of Sight), By Technology (Remotely Operated, Semi-Autonomous, Autonomous), By Application (Intelligence, Surveillance, Reconnaissance, and Target Acquisition, Combat Operations, Delivery and Transportation, Others) and Regional Forecasts, 2022-2032
Military Unmanned Aerial Vehicle (UAV) Market size was USD 10.33 billion in 2021 and is projected to grow from USD 12.2 billion in 2023 to USD 26.2 billion by 2032, exhibiting a CAGR of 8.9% during the forecast period.
Military UAVs (Unmanned Aerial Vehicles) are aircraft operated by remote control, anonymously, or both. They are equipped with a variety of sensors, electronic transmitters and receivers, and offensive weapons. UAVs, often known as drones, are predominantly used by the global military industry at present. UAVs offer a quick and effective means to monitor hazards, respond to them, and acquire intelligence.
Military Unmanned Aerial Vehicle (UAV) Market is expected to reach USD 26.2 billion, growing at a CAGR of 8.9% during the forecast period owing to the increasing use of Unmanned Aerial Vehicles (UAVs) in the security and defense industry for multiple applications. Global market growth is anticipated to be supported by the increase in defense spending by various governments to purchase modernized & technologically sophisticated military drones/UAVs for increased combat capability.
Military Unmanned Aerial Vehicle (UAV) Market is classified based on the Type into Fixed Wing, Rotary Wing, and Hybrid. The Fixed Wing segment held a major share in 2022 and will remain at the top during the projected period. Fixed wing aircraft are ideal for long-distance missions since they can often carry bigger cargo for longer flight periods while using less power than vertical take-off and landing drones. It is effectively used by numerous military authorities over the globe in the field of defense.
Military Unmanned Aerial Vehicle (UAV) Market is classified based on the Range into Visual Line of Sight, Extended Visual Line of Sight, and Beyond Line of Sight. The Extended Visual Line of Sight category is anticipated to grow at a higher CAGR throughout the forecast period owing to the widespread adoption of EVLOS UAVs in long-range missions to gather crucial intelligence, electronic warfare, and effective combat management.
Integration of Advanced Technologies for better Observation is Expected to Boost the Market Growth
Military drones give commanders in the armed forces real-time situational awareness, empowering them to act swiftly and decisively. This is one of several drivers driving the market. Cameras, advanced sensors, and other technologies used on drones can offer a thorough perspective of the battlefield. Enabling military personnel to conduct operations remotely, with the help of military UAVs can help lower the risk to them. This is particularly important in hazardous environments like those with high levels of chemical or biological hazards or exposure to enemy activity.
Growing Border Disputes between Nations is Expected to Boost the Market Growth
The demand for military UAVs is anticipated to rise as border conflicts between two or more territories are becoming more prevalent for ownership of land and governance of the region. India, Israel, China, Syria, Pakistan, Iran, and other nations have recently suffered territorial disputes. These nations have intensified military expenditure to buy real-time surveillance drones to upgrade border patrolling and raise situation awareness. These variables have a substantial impact on UAV demand, which in turn affects the growth of the market.
Significantly Priced UAVs and High Maintenance Cost to Restrain the Market Growth
UAVS are completely outfitted with cutting-edge avionics, propulsion, flight management, sensors, and payload systems. Depending on the complication of the activities, these technologies are linked to superior hardware and mature software systems. Due to diverse uses affecting the total price of products, air force, the army, and navy have different product portfolios for the deployment of military UAVs. These elements raise the final cost of UAVs around the world. Hence, higher product cost, and maintenance cost is expected to restrain future growth.
Military Unmanned Aerial Vehicle (UAV) Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America dominates the majority of the market owing to reasons like rising military modernization program investments, rising need for enhanced ISR capabilities, and rising drone deployment for law enforcement and homeland security purposes. Military drones have a sizable market in Europe, with the United Kingdom, Germany, and France leading the market growth. This is due to the rising defence spending, a rise in the demand for sophisticated ISR abilities, and the requirement to update military assets.
The Military Unmanned Aerial Vehicle (UAV) Market is not significantly affected by COVID-19. Despite supply chain challenges that military UAV production facilities had in 2020, things returned to normal by the end of 2020. However, there was little impact on the market's demand side dynamics since unmanned aerial vehicle investment by the world's militaries was unaffected.
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2032 |
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Base Year |
2022 |
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Forecast Period |
2022-2032 |
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Historical Period |
2019-2021 |
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Growth Rate |
CAGR of 8.9% from 2022-2032 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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Type |
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Range |
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Technology |
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Application |
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By Region |
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Military Unmanned Aerial Vehicle (UAV) Market size was estimated at USD 10.33 billion in 2021 and is expected to reach USD 26.2 billion in 2032.
Military UAVs (Unmanned Aerial Vehicles) are aircraft operated by remote control, anonymously, or both. They are equipped with a variety of sensors, electronic transmitters and receivers, and offensive weapons
Fixed Wing and Extended Visual Line of Sight segments accounted for the largest Military Unmanned Aerial Vehicle (UAV) market share.
Key players: The Boeing Company, Northrop Grumman Corporation, BAE Systems, Thales Group, Saab AB, Elbit Systems Ltd., Israel Aerospace Industries, Anduril Industries Inc., AeroVironment Inc., Aeronautics Group, Asteria Aerospace Limited, Shield AI Inc., Animal Dynamics Ltd, Aeryon Labs Inc, Teal Drones Inc., and Other Prominent Players are the key players in the Military Unmanned Aerial Vehicle (UAV) Market.
Growing technological improvements in the new-generation military UAVs and rising demand for the UAVs in the military are the factors driving the Military Unmanned Aerial Vehicle (UAV) Market.
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