Military Drone Market Size
Military Drone Market size valued at USD 5 billion in 2016 and having a fleet size of more than 13 thousand units and is expected to grow at an approximate 12% CAGR from 2017 to 2024.
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Use of the military drone is increasing, and it will continue to do so. Why? Since governments around the globe are encountering a growing threat to their stability, both within their borders and beyond. Terrorism, narcotics smuggling, and other nefarious operations are compelling them to devise novel means of safeguarding their populace. And the drone is the ideal answer. Drones may be employed in surveillance, scouting, and even battle. They can generate real-time reports on enemy operations, and they can be used to strike at and destroy enemy positions. And as drone technology continues to get better, expect to see ever more military uses for these craft. They soon may be the key to a new kind of warfare. Here’s a particular instance of the use of drones todayIn December 2017, the French Defense Agency funded Elistair’s Airwatch project, a drone for air surveillance. The drone offers assistance in crisis management, firefighting, law enforcement, and perimeter security.
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Military Drone Market Report Attributes
Report Attribute Details
Base Year 2016
Military Drone Market Size in 2016 5 Billion (USD)
Forecast Period 2017 to 2024
Forecast Period 2017 to 2024 CAGR 12%
2024 Value Projection 13 Billion (USD)
Historical Data for
2013 to 2016
No. of Pages
350
Tables, Charts & Figures
467
Segments covered
Product, Technology, Range, Maximum Take-Off Weight, Application, and Region
Growth Drivers
Venture capital funding in drone technology
Modernization initiatives by armed forces globally
Internal and external security threats rising
Design and integrated data intelligence
Growing demand from emerging economies
Pitfalls & Challenges
Government regulations that are stringent
Security & privacy concerns
What are the growth opportunities in this market?
Military Drone Market Analysis
The fixed-wing product category is expected to have a growth rate of more than 5% between 2017 and 2024 because it has been widely used for defense applications. These drones are easy in design, which makes the drone more efficient to aerodynamics, providing the advantage of long endurance at high speeds. These drones are also capable of carrying massive payloads over long distances because of which the demand for these drones will rise during the estimated period.
Read more about major segments influencing this market
The market of remotely operated military drones will constitute a market share of over 15% in 2024 owing to massive usage of drones by the aviation sector because aviation authorities follow the principle of adopting a protocol known as Line of Sight (LOS) mandatorily. Remotely operated drones consist of standard aspects of controlling a machine with remotes. This guarantees that the drone is fully in the sight of the operator, so the operator is liable for the operation of the drone in the air.
The market of Visual Line of Sight (VLOS) is anticipated to command a market share of more than 25% by 2024 as VLOS drones are increasingly being adopted by different government applications such as police missions, traffic monitoring, and firefighting & disaster management applications. All regulatory bodies worldwide are launching different VLOS rules irrespective of drones being utilized for recreational or business purposes that will drive the growth of the market. Yet, the increasing trend towards the Beyond Visual Line of Sight (BVLOS) drones since they enhance efficiency and accelerate the data gathering process will inhibit the VLOS market growth.
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The maximum take-off weight of over 150 Kgs market is forecasted to grow at a CAGR of approximately 10% in the forecast period. Increased use of drones with high payload capacity to cater to urgent missions such as search & rescue operations, surveillance, and traffic monitoring will drive military drones market growth. Increased demand by military organizations for High Altitude Low Endurance (HALE) drones will also drive market growth.
The government application vertical is likely to experience the highest growth rate as a result of growing use of drone technology in maintaining administrative tasks and public services to provide faster delivery of services to citizens. In this vertical, the application in firefighting & disaster management is likely to account for a market share of more than 5% in 2024. Aerial imaging platforms are widely utilized for disaster response applications. For instance, the Italian emergency services in September 2016 deployed high-tech drones supplied by the European Commission-executed project to carry out search & rescue operations of the affected towns.
Asia Pacific will hold over 15% market share in military drones by 2024 based on increased investment in emerging drone technologies to help develop high-tech drones for enhancing military applications. The nations such as China, Japan, India, and Australia are seeing massive uptake of drones in the defense and government sector. For example, in December 2017, the Chinese Military employed reconnaissance-attack drones, Yilong-2 for the purpose of espionage. The regional market growth is also backed by the presence of different numbers of drone manufacturers who are making steady investments in innovative technologies to produce drones.
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Military Drone Market Share
In the world of military drones, companies are buzzing with activity. They’re not just creating new models but also teaming up with each other to become the biggest and best. Just a few years ago, Lockheed Martin and Elbit Systems hooked up to help the British Royal Navy fight the good fight at sea. By joining forces, they could use their combined smarts to develop a super-capable system that would keep the UK’s shores safe. But that’s not all. Some companies are going on shopping sprees, buying up other businesses to beef up their drone game. For example, Raytheon scooped up Sensintel a while back to get ahead in the race for the best drones and tech. With all this activity, it’s clear that the race is on to rule the roost in the military drone market. Companies are pulling out all the stops to outwit and outmaneuver each other to come out on top.
Some of the major vendors present in the market are
- Lockheed Martin
- Boeing
- BAE Systems, Inc
- Northrop Grumman
- Israel Aerospace Industries Ltd
- Aerovironment, Inc
- China Aerospace
- Leonardo
- General Atomic
- Textron Systems
Industry Background
Traditionally, drones were known as a sophisticated military technology or a hobbyist’s tool used for capturing images, events, and city spaces. With technological advancement, businesses across various industries have realized their potential in different commercial applications, beyond basic surveillance, photography or videos. They are extensively used for various applications including carrying out surveillance operations and search & rescue operations. With rapid investments in the drone industry, the market is expected to witness a sharp growth over the forecast timeline.
