Military Robots Market Evolving Technology, Segmentation and Industry Analysis 2021 to 2027
Military Robots Market size is projected to grow exponentially during forecast period owing to the rising demand for UGVs for counter-insurgency operations.
Delaware , United States – July 22, 2021 /MarketersMedia/ —
The military robots market is expected to be driven by rising demand for UGVs for counter-insurgency operations. Innovations in technology and high-tech advancements in robotics are paving the way for the development of intelligent military robots. Rising demand for automated robots and increasing extension in defense budget for technologies such as unmanned systems may drive lucrative business scenario for military robots manufacturers and suppliers in the coming years.
As per a report published by Global Market Insights, the military robots market size is expected to around USD 27 billion by 2027. However, the COVID-19 pandemic has impacted the industry and its related expansion opportunities. Governments across many countries are compelled to focus more on supporting the healthcare sector during this pandemic. This has consequently led to the allotment of a limited budget to the defense industry for any driving innovations.
Nonetheless, with a need to reduce dependency on foreign manufacturers, several government organizations are focusing on encouraging the development of domestically manufactured naval systems, ground and unmanned aerial, benefitting local players operating in the military robots niche.
Elaborating on some of the trends that could progress the market expansion by 2027:
1) Surging demand for automated military robots
Automated military robots have seen a huge demand owing to their growing use by homeland security and various defense agencies. These robots are designed with an intention to keep soldiers away from the warzone to reduce casualties especially during intense military conflicts.
They are rigged with enhanced features like the ability to identify precise location for surveillance to support applications including search & rescue operations, Explosive Ordnance Disposal (EOD), combat, and excavation clearance. All these factors can enhance the demand for automated military robots over time.
To access a sample copy or view military robots market report in detail along with the table of contents, please click the link below: https://www.gminsights.com/request-sample/detail/2110
2) Strategic initiatives by the major players
Key players operating in the military robots market are constantly implementing strategic initiatives to stay competitive in the market and to maintain their financial stability. They are constantly emphasizing on collaborating with government organizations for offering naval, aerial, and land-based military robots and services.
Some manufacturers are currently emphasizing on building entirely autonomous unmanned systems that operate on marine and land platforms. Firms like Boeing, BAE Systems, Raytheon Technologies, Northrop Grumman Corporation, Leonardo S.p.A., Lockheed Martin Corporation, FLIR Systems, Inc., IAI, Elbit Systems Ltd., and Kratos Defense & Security Solutions, Inc. are currently holding a major presence in the military robots sector.
3) Mounting demand in the Asia Pacific
Asia Pacific military robots market is projected witness lucrative growth over the estimated timeframe. Rising cross-border issues between countries like China and India, mounting defense budget, and increasing instances of market players partnering with government organizations may have a positive impact on military robots businesses in the region. Highlighting an instance, the U.S. government had collaborated with the Indian Government to deploy and develop small air-launch UAVs for defense applications in the year 2019.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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