The Military Drones Market is projected to grow from USD 12.1 billion in 2018 to USD 26.8 billion by 2025, at a CAGR of 12.00% from 2018 to 2025.
Increasing use of unmanned aerial vehicles in Intelligence, Surveillance, Reconnaissance, and Target Acquisition (ISRT) applications and combat operations is expected to drive the growth of the military drones market across the globe. Improvements in flight control systems, owing to the development of sense and avoid technology, are also expected to fuel the growth of the military drones market.
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The delivery and transportation application segment of the military drones market is projected to grow at the highest CAGR during the forecast period.
Based on application, the delivery and transportation application segment of the military drones market is projected to grow at the highest CAGR from 2018 to 2025. This growth can be attributed to the increased adoption of UAVs for military applications such as inspection, monitoring, surveying, mapping, and remote sensing, along with providing supplies to troops. Properties of UAVs such as superior endurance, high efficiency, and low operating costs have also fueled their increased use in military applications.
Increasing defense budgets of various countries have resulted in the growth of the Extended Line of Sight (EVLOS) segment of the military drones market.
Based on range, the Extended Visual Line of Sight (EVLOS) segment of the military drones market is projected to grow at the highest CAGR during the forecast period. Small UAVs fall under the EVLOS category and are primarily used in surveillance, monitoring, and target acquisition applications. Increasing defense budgets of various countries across the globe are expected to drive the growth of the EVLOS segment of the military drones market during the forecast period.
Improved endurance and enhanced payload carrying capabilities are factors leading to the growth of the fixed-wing segment of the military drones market.
Based on type, the fixed-wing segment of the military drones market is projected to grow at the highest CAGR during the forecast period. Fixed-wing drones offer improved endurance and can cover a large area in a short interval of time. As such, they are used in various military applications. Moreover, the high payload carrying capability of fixed-wing drones is also expected to lead to their increased demand across the globe, thereby fueling the growth of the fixed-wing segment of the market.
The Asia Pacific military drones market projected to grow at the highest CAGR during the forecast period.
The military drones market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increased demand for UAVs from the military sector of countries such as China, India, and Japan. The military budgets of the above-mentioned countries are increasing on a yearly basis, which has subsequently led to the adoption of UAVs by militaries of these countries as these drones assist in the collection of battlefield data.
Key Market Players
Key players operating in the military drones 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), and Boeing (US), among others.
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