Military Drone Market to Reach USD 17270 million by 2028 with a CAGR of 6.6%| Valuates Reports

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Jun 28, 2022, 10:00 ET

BANGALORE, India, June 28, 2022 /PRNewswire/ -- The Global Milita ry Drone Market Is segmented by Type ( Fixed Wing, Rotary Wing), by Application (Search and Rescue, National Defense, Military Exercises, Others) : Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Law & Government Category.

Due to the COVID-19 pandemic, the global Military Drone market size is estimated to be worth USD 11770 million in 2022 and is forecast to be a readjusted size of USD 17270 million by 2028 with a CAGR of 6.6% during the review period.

Major factors driving the growth of the Military Drone market are:

During the forecast period, the Military Drone market expansion is anticipated to be fueled by the growing use of drones in a variety of military applications. Demand for military UAVs will increase in the future years as a result of the expanding usage of unmanned aerial vehicle (UAV) technology in the defense industry for a variety of purposes, including mapping, surveying, monitoring, transporting, and combat operations.

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TRENDS INFLUENCING THE GROWTH MILITARY DRONE MARKET

Increasing investments to strengthen military and defense by various governments are expected to drive the growth of the military drone market. ISR (intelligence, surveillance, and reconnaissance) is the primary usage for military UAVs. Military UAVs are currently being developed for a variety of tasks, including electronic attack (EA), strike missions, suppression/destruction of enemy air defenses (SEAD), network nodes, communication relays, and combat search and rescue.

Explore and rescue operations are far more successful and efficient thanks to a remote-controlled aerial vehicle's ability to rapidly and effectively search broad regions with a high-quality video and thermal video, regardless of the terrain. The most challenging and time-consuming part of the search and rescue event response is frequently finding wounded and distressed people and organizing ground teams' reactions to those people. Military drones can rapidly search large areas, recognize a person in distress by their thermal signature, evaluate their condition and surroundings with high-definition video, and communicate in real-time to ground resources the victim's location, ground accessibility issues, and other information that is essential to ground resource assets trying to reach victims. This factor is expected to drive the growth of the military drone market.

Military forces must constantly be prepared for anything at any time. Military drones are being considered by military forces as a way to improve their surveillance and combat capabilities. By hovering above a location for a lengthy period of time, drones may carry out surveillance operations. Drones can provide vital information on the whereabouts, movements, and positions of important targets of the opposition. When in the field, commanders may use this knowledge to operate more effectively and make wiser choices.

Furthermore, when carrying out combat and combat support tasks, unmanned vehicles are extremely important. Operators can strike their targets more precisely and accurately thanks to built-in targeting software. UAVs can be used by operators as target practice or in training activities to help them become more accurate. Target detection and reaction are automated by targeting software that is embedded into drones. Drones can help transport priceless supplies and equipment by acting as military-industrial couriers. Additionally, they can aid with personnel evacuation. This in turn is expected to drive the growth of the military drone market.

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MILITARY DRONE MARKET SHARE

Based on type, the fixed-wing segment is expected to dominate in the military drone market due to premium structure quality aiding in long-distance missions for surveillance and

Based on region, North America is expected to be the most lucrative during the forecast period owing to factors such as the presence of big players and rapid advancements in the US military.

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Key Companies:

Northrop Grumman
General Atomics
Lockheed Martin
Textron
Boeing
Airbus
IAI
AVIC
CASC
Thales Group
AeroVironment

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