Military UAV Market 2017-2024 Growth at 12% CAGR – Global Report by Product, Technology, Range, Max Take-Off Weight
This global military UAV / drone market report studies the industry based on one or more segments covering key players, types, applications, products, technology, end-users, and regions for historical data as well as provides forecasts for next few years.
Selbyville, United states – July 31, 2018 /MarketersMedia/ —
Military UAV market is estimated to surpass the fleet of 18 thousand units with the revenue of over 13 billion by 2024, according to this new research available with Market Study Report for 2017 to 2024. The increasing demand of the UAVs for combat and surveillance operations is the primary factor driving the market growth. Rise in internal and external threat across the globe and terrorist activities are impacting the market to grow government sector. Furthermore, the rise in investment in the drone technology especially from developing economies for strengthening their military is increasing the need for drones.
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Drone market used for VLOS operation are estimated to grow with the CAGR of 16.4% during the forecast period. The growth of this segment within the military UAV market is attributed to the demand of the VLOS drone in government applications such as traffic monitoring, police operations & law enforcement, and firefighting & disaster management application. The maximum limit for VLOS is different in countries as specified by the local aviation authorities.
The drone with the payload between 25KG and 150KG is dominating the military UAV market with more than 50% revenue share in the 2016. Their ability to perform critical missions such as surveillance mission, rescue operation, support to ground forces and traffic monitoring are the major factors augmenting their demand in the market. Furthermore, their high versatility and high tactical capabilities is also estimated to foster the demand.
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The demand from government applications, especially for traffic monitoring and police operation & law enforcement is driving the military UAV market. The traffic departments around the world have started testing and deploying drones to monitor and manage urban traffic systems. Major key player in military UAV market are BAE Systems Inc., Aerovironment Inc., Boeing, General Atomic, China Aerospace, Israel Aerospace Industries Ltd., Leonardo, Northrop Grumman, Textron Systems. and Lockheed Martin.
North America is the leading region in the military UAV market with the revenue share of over 70% in the year 2016. The growth of the market is attributed to the increasing adoption of the drone in the U.S. for the military and government application. For instance, the U.S the Federal Bureau of Investigation (FBI) and Department of Homeland Security is using drone for law enforcement and police investigation. They are also planning to use drones for disaster management and firefighting application.
Complete report of military UAV market is now available at https://www.marketstudyreport.com/reports/military-drone-unmanned-aerial-vehicle-uav-market
Out of the scope of this report, unmanned aerial vehicle industry has been gaining exceptional prominence lately driven by the fact that these remote-controlled aerial vehicles have emerged as one of the most effective ways to organize surveillance, disaster management, and traffic monitoring. Unmanned aerial vehicles are the next-generation weapons in the form of missiles control through remotely operated radio waves and have been garnering popularity as the new face of warfare in many countries such as the U.S., China, Russia, and Israel. As per New America, the U.S. armed forces, supposedly a global leader in UAV technology, encompass a fleet of approximately 11,000 drones. UAVs have also been playing a critical role in the military services of many nations. Israel for instance has deployed military drones at its border for performing the tasks of surveillance, intelligence, and reconnaissance, with the help of which Israeli military has been trying to control terrorist activities surrounding the country.
Another study titled “ World Military Drone Market Research Report 2023 (covering USA, Europe, China, Japan, India, South East Asia and etc)” provides the newest industry data and future trends, allowing readers to identify the products and end users driving Revenue growth and profitability. The industry report lists the leading competitors and provides the strategic insights industry as well as analysis of the key factors influencing the market. Key players include Boeing, General Atomics, AAI, Northrop Grumman, Dassault Aviation, IAI, Dynali helicopters, BAE System, SAGEM and Titan Aerospace. Read more details at https://www.marketstudyreport.com/reports/world-military-drone-market-research-report-2023-covering-usa-europe-china-japan-india-south-east-asia-and-etc
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