The autonomous military drone market is forecast to grow at a CAGR of above 18%. Beyond Visual Line of Sight (BVLOS) drone is leading the market with a share of more than 67%. The semi-autonomous drone is dominating the market as they have the ability to offer flight control and reduce the human interference.
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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.
In 2016, the rotary blade UAV dominated the market with more than 65% of the share. This growth is due to the rising demand for surveillance, spying, and investigation applications and their ability to vertically take-off and land. The hybrid military drone market is estimated to grow at a faster rate of over 15% due to the benefits such as extended flight time, high payload capability, and better flight control along with features of fixed wing and rotor blade drone.
North America is dominating the military drone market with a share of more than 70% in 2016. The high demand in the region is due to a rise in the use of UAV in the U.S. for defense purposes. Furthermore, the implementation of drones for government applications is also assisting the market growth. For instance, the U.S. government has initiated testing of different drone technologies for developing an advanced drone that can travel across spot beams on a satellite with complete contact.
Asia Pacific is estimated to grow at 17% CAGR during the forecast timeline. The growth of the military drone market is contributed by the developing economies including India and China. China holds over 50% market share in the Asia Pacific region, due to investments by the Chinese government. The government is increasing R&D activities to minimize the imports from the U.S. and increase the domestic production.
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With the proliferation of advancements in military drone industry 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.
Some Points From Table Of Content: –
Chapter 6. Global Military Drone Market, By Technology
6.1. Global military drone industry share by technology, 2013 & 2024
6.2. Remotely operated drone
6.2.1. Market estimates and forecast, 2013 – 2024
6.2.2. Market estimates and forecast, by region, 2013 – 2024
6.3. Semi-autonomous drone
6.3.1. Market estimates and forecast, 2013 – 2024
6.3.2. Market estimates and forecast, by region, 2013 – 2024
6.4. Autonomous drone
6.4.1. Market estimates and forecast, 2013 – 2024
6.4.2. Market estimates and forecast, by region, 2013 – 2024
Chapter 7. Global Military Drone Market, By Range
7.1. Global military drone industry share by range, 2013 & 2024
7.2.1. Market estimates and forecast, 2013 – 2024
7.2.2. Market estimates and forecast, by region, 2013 – 2024
7.3.1. Market estimates and forecast, 2013 – 2024
7.3.2. Market estimates and forecast, by region, 2013 – 2024
7.4.1. Market estimates and forecast, 2013 – 2024
7.4.2. Market estimates and forecast, by region, 2013 – 2024
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