Report Ocean published a new report on the ‘Global Military Drone Market’. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
Get a complete report on Military Drone Market’ (Including Full TOC, 200+ Tables & Figures, and charts). –Covers Precise Information on Pre & Post COVID-19 Market Outbreak by Region.
Global Military Drone Market is valued at approximately USD 3.62 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 12.77 % over the forecast period 2022-2029.
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Military drones are unmanned aerial vehicles that perform a variety of missions such as intelligence, surveillance, remote sensing, target monitoring, and combat. Drone operators are the individuals who remotely pilot these drones. Military drones are used to track enemy movements, scout out battle zones, and can be a useful tool in a manhunt. The key factors driving the market growth are rising military spending and military drone purchases from defense forces. Also, the demand for the product is likely to increase as border disputes over land ownership and control of land between two or more states increase. India, Pakistan, China, Iran, Syria, Israel, and other countries have experienced territorial disputes in recent years. These nations have increased military spending on the purchase of real-time surveillance drones to enhance border patrolling and situation awareness.
A number of countries made significant investments in strengthening their military forces, which is anticipated to fuel market expansion. According to a survey by the Stockholm International Peace Research Institute (SPIRI), worldwide military spending reached USD 1,981 billion in 2020, up 2.6% from 2019. In 2020, the United States (USD 778 billion), China (USD 252 billion), India (72.9 billion), Russia (61.7 billion), and the United Kingdom (59.2 billion) were the top five nations with the highest defence budgets. Additionally, technological advancements in drone payloads would create a lucrative opportunity for the market during the forecast period. However, the lack of trained personnel to operate drone stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Military Drone Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the dominating region across the world in terms of market share, owing to the rising military spending and presence of key market players in the region. Whereas Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period, Factors such as rising adoption of drones in military for surveillance and increasing government military spending would create lucrative growth prospects for the Military Drone market across Asia Pacific region.
Major market players included in this report are:
- General Atomics Aeronautical Systems, Inc. (U.S.)
- Northrop Grumman Corporation (U.S.)
- Elbit Systems Ltd. (Israel)
- Israel Aerospace Industries Ltd. (Israel)
- AeroVironment, Inc. (U.S.)
- Lockheed Martin Corporation (U.S.)
- Thales Group (France)
- Boeing (U.S.)
- BAE Systems (U.K.)
- SAAB Group (Sweden)
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
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
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
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This report answers the following key questions:
- How big is the market as a whole in 2022? What rate of market expansion is anticipated between 2023 to 2030?
- Which region would experience a high demand for goods in the years to come?
- What are the variables promoting the market’s expansion?
- Which sub-market will have the most impact on the market?
- What market opportunities exist for established and new players?
- What different short-term and long-term tactics have the market players adopted?
With regard to the COVID-19 Outbreak Impact Analysis:
- In light of COVID-19, the report examined market trends.
- On the basis of the upstream and downstream markets, the study examined COVID-19’s effects on the manufacturing industry’s supply chain.
- We examine how COVID-19 has affected diverse regions and significant nations.
- It is noted how COVID-19 will affect the industry’s future growth.
Examined in the study are:
- Market behavior, risk, and opportunity levels
- An assessment of end-industry behavior and opportunity
- An anticipated timeline for industry recovery.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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