At 17.6% CAGR, Military Drone Market in Asia Pacific Will Witness Tremendous Growth till 2024

Asia Pacific region is estimated to grow fastest in the military drone market with a CAGR of 17.6%, owing to the increase in the use of UAVs in countries such as Japan, China, Australia, and India, where there are opportunities in abundance for traffic monitoring, border management, and surveillance. South Korea is estimated to emerge as a market leader in drone technology in the APAC region because of its government’s firm commitment towards heavy investment in drone for varied applications and use cases.

The changing face of warfare in the recent years has been a pivotal factor stimulating military drone market. Aided by cumulative product demand and rapidly progressive technological advancements, this vertical is expected to add a new dimension to the evolving smart industry. Ironically, the latest news about the U.S. military having developed drones that can decide who to kill has created major undulations in military drone industry. As a potential aftermath, the world is still debating over what such a technology can mean for the future of warfare and war ethics.

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It has been anticipated that North America, by 2024, will be accounting for 70% of the overall military drone market share. This expansive growth can be aptly credited to the heavy adaptation of drones in civil applications and the ongoing ‘War on Terror’ that the U.S. is current involved in. Till date, the United States has carried out several lethal drone strikes in Pakistan, Somalia and Yemen. Incidentally, these are the countries that the U.S. and its allies are not openly at war with, as is the case with Afghanistan, Libya and Iraq. As a measure to extend the reach of the war against terrorism, the U.S. has also concentrated its drone campaigns in North Africa, using Predator drones for surveillance and targeting radical terrorist groups. Undeniably, U.S. has emerged as a viable revenue pocket for North America military drone market.

Apart from purely military uses, these UAVs have been successfully deployed to carry out other government-controlled operations like search and rescue, wildfire containment, surveillance and law enforcement, further adding stimulus to military drone market. For instance, the Police Aviation Administration Office in China have put 300 police drones to patrol areas that are too difficult for the police to access. These drones have successfully collected information about drug manufacturing dens and have facilitated police raids in these areas. In the U.S., Predator B drones have been deployed for US Mexico border patrol to stop illegal border crossing across the remote mountains, rivers and canyons. These instances provide pivotal evidence that military UAV industry is here to stay. However, it would be fair to state that the advantages of using drones in warfare and military operations have surpassed all debatable boundaries. This is quite evident from the estimates that claim military UAV market share to register a CAGR of 12% over 2017-2024.

With the proliferation of advancements in military drone market and the changing implications these developments will have on warfare, regional governments plan to establish a common ground to discuss and set guidelines for the sustainable and beneficial use of military drones while safeguarding human interests. As the use of drones have far reaching consequences that are not limited to warfare, the trend for developing and using military drones across myriad applications will continue to remain consistent in the next few years. As per estimates, military drone market size will be pegged at USD 13 billion by 2024.

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Some of the prominent vendors of the military drone market are BAE Systems Inc., Aerovironment Inc., Boeing, General Atomic, China Aerospace, Israel Aerospace Industries Ltd., Leonardo, Northrop Grumman, Textron Systems. And Lockheed Martin. 

Glimpse of Table of Content (ToC)

Chapter 4.   Competitive Landscape

4.1.  Introduction

4.2.  Market leaders, 2016

4.2.1. General Atomic Systems

4.2.2. Lockheed Martin

4.2.3. Northrop Grumman

4.2.4. Boeing

4.2.5. China Aerospace

4.2.6. Aerovironment

4.3.  Innovation leaders, 2016

4.3.1. Elbit Systems

4.3.2. Israel Aerospace Industries

4.3.3. Leonardo

4.3.4. VTOL Technologies

4.4.  Other prominent vendors

Chapter 5.   Global Military Drone Industry, By Product

5.1.  Global military drone industry, by product, 2013 & 2024

5.2.  Fixed wing drone

5.2.1. Market estimates and forecast, 2013 – 2024

5.2.2. Market estimates and forecast, by region, 2015 – 2024

5.3.  Rotary blade drone

5.3.1. Market estimates and forecast, 2013 – 2024

5.3.2. Market estimates and forecast, by region, 2013 – 2024

5.4.  Hybrid drone

5.4.1. Market estimates and forecast, 2013 – 2024

5.4.2. Market estimates and forecast, by region, 2013 – 2024

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