Top News: Military Drone Market Size & Share to Surpass $ 26.0 Billion by 2028 | Vantage Market Research

WASHINGTON, Dec. 13, 2022 (GLOBE NEWSWIRE) -- The Global Military Drone Market is valued at USD 13.4 Billion in 2021 and is projected to reach a value of USD 26.0 Billion by 2028 at a CAGR of 11.7% over the forecast period.   *Market Overview*

According to Vantage Market Research, In the upcoming years, demand for military UAVs will be fueled by the expanding usage of uncrewed aerial vehicles (UAVs) in the defense and security sector for a variety of purposes, including surveying, mapping, transporting, combat operations, and monitoring. Global market expansion is anticipated to be aided by the rise in defense spending as more nations purchase modern, technologically advanced Military Drone Markets/UAVs for enhanced combat capability. Artificial intelligence (AI) is updating Military Drone Market technology by selecting targets automatically and precisely.

*Key Highlights from Report:*

· Among Types, the Fixed-wing segment is anticipated to dominate the Military Drone Market. This is due to the premium structure quality that helps long-distance surveillance and defense operations. Moreover, fixed-wing drones use wings to move upward from the ground at the time of take-off, like airplanes. Also, they need engines to provide them a forward thrust, whereas wings offer them the required vertical lift for flying. In addition, the fixed-wing segment is further divided into vertical take-off and landing (VTOL) and conventional take-off and landing (CTOL).
· The ISRT sub-segment of the Application segment accounted for the largest market share. This segment is likely to flourish owing to the part of UAVs in defense production in place of combat operations. Such flying machines are intended for vital information and collecting data on the terrorist area. Besides, the air force, army, navy, and other security agencies have recently been utilizing the UAV for transportation and logistics.

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*Market Dynamics *

*Spending on the military is rising, and the defense industry is buying more Military Drone Markets *

Many nations invested significantly in bolstering their armed forces, which is anticipated to boost market expansion. According to a survey by the Stockholm International Peace Research Institute (SPIRI), worldwide military spending reached USD 1,981 billion in 2020, an increase of 2.6% from 2019. The United States ($778 billion), China ($252 billion), India ($72.9 billion), Russia ($61.7 billion), and the United Kingdom ($71.8 billion) had the top five defense budgets in 2020. (59.2 billion).

Over the past few years, countries like Russia, India, China, and Saudi Arabia have invested significantly in buying and updating the world's defense infrastructure. It is anticipated that such causes will increase demand for military uncrewed aerial vehicles in the coming years. For instance, India and the U.S. are scheduled to finalize their agreement in November 2021 to purchase 30 multi-mission MQ-9B long-endurance predator drones. The contract has a 3 billion USD value—additionally, the armed forces' increasing purchases of next-generation Military Drone Markets fuels market expansion. Moreover, in September 2021, the Indian Army and Israel's Elbit Security Systems (ELSEC) agreed to a USD 13.7 million contract for the purchase of more than 100 strike drones.

*Cross-border conflicts are on the rise in several countries, which will drive market expansion*

The demand for the product is anticipated to rise as border disputes over land ownership and territory control between two or more states become more frequent. India, China, Pakistan, Iran, Israel, Syria, and other countries have been dealing with territorial disputes over the past few years. These nations have increased military spending to buy real-time surveillance drones in order to improve situational awareness through improving border patrolling. For instance, the China-India border issue reached a very dangerous level in June 2020 for the first time in more than four decades. Thousands of Chinese and Indian soldiers have been engaged in a standoff in the Himalayan area of Ladakh since May. The use of drone technology is crucial to resolving their border conflict. Both nations are using military unmanned aircraft for high-altitude logistical and reconnaissance missions.

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*Recent Development: *

· In March 2022, Gambit is an Autonomous Collaborative Platform (ACP) designed through digital engineering to speed it’s time to market and lower acquisition costs. The jet-powered platform is being built for air dominance and will heavily leverage advances in artificial intelligence and autonomous systems.
· In December 2021, The Mojave is an unmanned aerial vehicle (UAV) capable of short take-off and landing (STOL). Mojave essentially takes a Gray Eagle fuselage and adds enlarged wings with high-lift devices and a Rolls Royce 450-horsepower turboprop engine. The UAS is based on the avionics and flight control systems of the MQ-9 Reaper and the MQ-1C Gray Eagle- Extended Range.

*Top Trends in Global Military Drone Market*

· The South Korean government approved a plan to produce surveillance and reconnaissance drones domestically by 2031 in December 2021. The purchase of these drones is intended to strengthen the nation's defensive capacities, notably in the northwest border islands.
· Boeing intended to transform repurposed U.S. Using advanced unmanned and manned target drones; the Air Force converted Lockheed Martin F-16 jet jets. The contract was worth USD 49.7 million.

*Top Report Findings*

· Based on End user, according to estimates, the fixed-wing market sector will continue to dominate the market for Military Drone Markets in 2021 and beyond. Fixed-wing aircraft often have a higher payload capacity and can fly farther and for longer periods of time while using less power than VTOL (Vertical Take-off and Landing) UAVs. This makes them perfect for long-distance missions like mapping, surveillance, and defense, in which long-term endurance is essential. As a result, numerous military forces throughout the world heavily utilize them in the defense sector. These elements are anticipated to fuel segment growth during the projected timeframe.
· Based on deployment type, Due to the widespread use of EVLOS UAVs in effective combat management, electronic warfare, and long-range missions to gather crucial information, the EVLOS segment is expected to expand at a high CAGR over the forecast period.

*Global Military Drone Market Segmentation: *

Vantage Market Research Has Studied the Global Military Drone Market with Detailed Segmentation on the Basis of Application, End Use, Range, Propulsion Type, Endurance, Launching, MTOW, and Key Regions.    

*Application*

· Intelligence
· Delivery and Transportation
· Combat Operations
· Battle Damage Management

*Type*

· Fixed-wing
· Rotary-wing
· Hybrid/Transitional*Range*

· Visual Line of Sight (VLOS)
· Extended Visual Line of Sight (EVLOS)
· Beyond Line of Sight (BLOS)*Propulsion Type*

· Battery Powered
· Fuel Cell
· Hybrid Cell*Endurance*

· <1–2 Hours
· 2–6 Hours
· >6 Hours*Launching *

· Vertical Take-off
· Automatic Take-off and Landing
· Catapult Launcher
· Hand Launched

*MTOW*

· <25 Kilograms
· 25–150 Kilograms
· >150 Kilograms*Region*

· North America
· Europe
· Asia Pacific
· Latin America
· Middle East & Africa*Read Full Research Report @ *https://www.vantagemarketresearch.com/industry-report/military-drone-market-1930

*Top 6 Players Generates More Than 28% of the Global Military Drone Market Revenue *

The key players in the Military Drone 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), Boeing (US), among others.

*Top Players in the Global Military Drone Market*

· 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)
· Boeing (US)

*Regional Analysis:*

· North America dominates the military drone’s market in terms of revenue and market share because of increasing adoption of drones with advanced technology in this region.
· Asia-Pacific will continue to project the highest compound annual growth rate during the forecast period of 2022-2029 due to increasing defense budget, especially in developing countries in this region.

Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on Military Drone Market Forecast Report (2022-2028).

*Scope of the Report:*

*Report Attributes* *Details*
Market Size in 2021 USD 13.4 Billion
Revenue Forecast by 2028 USD 26.0 Billion
CAGR 11.7% from 2022 to 2028
Base Year 2021
Forecast Year 2022 to 2028
Key Players General Atomics Aeronautical Systems Inc. (GA-ASI), Northrop Grumman Corporation, Elbit Systems Ltd., Israel Aerospace Industries Ltd., AeroVironment Inc., Lockheed Martin Corporation, Thales Group, Boeing

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