Military drones market is Expected to Grow at 10.2% by 2031. Drones, also referred to as unmanned aerial vehicle (UAV), are aircraft systems that are capable of operating without any human pilot aboard. Any aerial vehicle, without human pilot aboard, that is operated through remote control/station is referred to as drone. Drones are available in various sizes and configurations and hence can be used across an array of applications in the defense sector. These are capable of hovering over a given region covering larger surface area, making them preferred over other platforms. Drones can be categorized based on their operating altitude/class. Drones are capable of flying at altitudes ranging from a few hundred meters to over 30,000 feet from the surface of the Earth. Another major type of drone (high altitude long endurance) is designed to operate at altitudes ranging above 50,000 feet from the Earth’s surface.
Military drones can be referred to UAVs used and designed specifically for defense applications. Typical applications of military drones include surveillance, communication relay, synthetic aperture radar, electronic intelligence, electronic warfare, weapons and others. This makes drones highly useful for the defense sector. The military drones market is highly driven by the rising expenditure over defense sector across the world. Major spending countries over military drones include the U.S., China and Israel. Due to anticipated increase in expenditure in the coming years, the demand for military purpose drones is estimated to remain strong worldwide. Nevertheless, major factor hampering the market is high initial costs, especially in the case of strategic (medium and high altitude) drones.
Key Players Identified for Military Drones Market Include but are Not Limited to:
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Military Drones market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Key questions answered in this report
