The military drones market is projected to grow at a CAGR of 12.00% from 2018 to 2025
NEW YORK, Nov. 6, 2018
NEW YORK, Nov. 6, 2018 /PRNewswire/ -- The military drones market is projected to grow at a CAGR of 12.00% from 2018 to 2025.
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The military drones market is projected to grow from USD 12.1 billion in 2018 to USD 26.8 billion by 2025, at a CAGR of 12.00% during the forecast period. Unmanned Aerial Vehicles (UAVs), also known as drones, are remotely piloted aerial vehicles, which are increasingly being used in the defense sector for a number of applications such as border surveillance, monitoring, surveying and mapping, combat operations, and product delivery. The rising use of drones in military applications is fueling the growth of the military drones market across the globe. The European and Latin American regions are expected to be the new revenue-generating markets for unmanned aerial vehicles. Rising defense budgets and increasing adoption of UAVs in various military applications are contributing to the growth of the military drones market across the globe.
Based on type, the fixed-wing segment is expected to lead the military drones market in 2018.
Based on type, the fixed-wing segment is expected to lead the military drones market in 2018.Fixed-wing drones have longer endurance as compared to other types of UAVs, thereby making them suitable for use in military applications.
Fixed-wing drones can cover longer distances as compared to rotary-wing drones.These drones generally use gas engines as power sources, which also provide them with endurance to cover long distances.
Several fixed-wing drones can fly for over 15 hours without the need to land for refueling. These drones are used in Intelligence, Surveillance, and Reconnaissance (ISR) operations to record information about potential targets that are otherwise difficult to detect.
Based on application, the Intelligence, Surveillance, Reconnaissance, and Target Acquisition (ISRT) segment is expected to lead the military drones market in 2018.
Based on application, the Intelligence, Surveillance, Reconnaissance, and Target Acquisition (ISRT) segment is expected to lead the military drones market in 2018. The growth of this segment can be attributed to the increasing transnational and regional instability across the globe due to rising instances of terrorist activities.
North America is expected to lead the military drones market in 2018.
The North American region is expected to lead the military drones market in 2018.The US and Canada are key countries considered for the market analysis in this region.
Increase in defense expenditures of the US and Canada and the presence of major UAV manufacturers in North America are key factors contributing to the growth of the military drones market in this region.
Break-up of profiles of primary participants for this report:
• By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C Level – 35%, and Director Level – 25%, and Others – 40%,
• By Region: North America – 45%, Europe – 20%, Asia Pacific – 30%, and RoW – 5%
Key players operating in the military drones market include General Atomics Aeronautical Systems, Inc. (GA-ASI) (US), Northrop Grumman Corporation (US), Elbit Systems Ltd. (Israel), Israel Aerospace Industries Ltd. (Israel), AeroVironment, Inc. (US), Lockheed Martin Corporation (US), Thales Group (France), and Boeing (US).
This research study covers the segmentation of the military drones market based on type (fixed-wing, rotary-wing, hybrid/transitional), application (intelligence, surveillance, reconnaissance, and target acquisition, delivery and transportation, combat operations, and battle damage management), Maximum Takeoff Weight (MTOW) (<25 kilograms, 25¬–150 kilograms, and >150 kilograms), endurance (<1–2 hours, 2–6 hours, and >6 hours), range (Visual Line of Sight (VLOS), Extended Visual Line of Sight (EVLOS), and Beyond Line of Sight (BLOS)), propulsion type (battery powered, fuel cell, and hybrid cell), and launching mode (vertical take-off, automatic take-off and landing, catapult launcher, and hand launched). These segments and subsegments are mapped across various regions such as North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa. The report provides in-depth market intelligence regarding key factors such as drivers, opportunities, and challenges influencing the growth of the military drones market across the globe. It also offers an analysis of micromarkets with respect to individual growth trends, prospects, and their contribution to the overall military drones market.
Reasons to buy the report:
From an insight perspective, the military drones market report focuses on various levels of analyses—industry analysis, market share analysis of top players, and company profiles. These insights together comprise and discuss basic views on the competitive landscape; high-growth regions and countries and their respective regulatory policies; and drivers, opportunities, and challenges influencing the growth of the military drones market.
The military drones market report provides insights on the following pointers:
• Market Penetration: Information regarding the competitive landscape of the military drones market
• Market Sizing: The estimated size of the market in 2018 and its projection from 2018 to 2025
• Product Development/Innovation: Detailed insights on the upcoming technologies, research & development activities, and new product launches in the military drones market
• Market Overview: Market dynamics and subsequent analysis of associated trends as well as drivers, opportunities, and challenges prevailing in the military drones market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the market for military drones across various regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the military drones market
• Regional Analysis: Factors influencing the growth of the military drones market in North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa
• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading market players
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