BANGALORE, India , June 28, 2022 /PRNewswire/ -- The Global Military 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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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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- The global Drone Package Delivery market size will be USD 241.53 Million in 2020 and it is expected to reach USD 3694.38 Million by the end of 2027, with a Compound Annual Growth Rate (CAGR) of 57.55% during the forecast period 2021-2027.
- The global Drone Software market size is projected to reach USD 10030 million by 2027, from USD 1004 million in 2020, at a CAGR of 38.9% during 2021-2027.
- The global Drone Analytics market size is projected to reach USD 2931.6 million by 2028, from USD 1070.7 million in 2021, at a CAGR of 15.4% during 2022-2028.
- The global Commercial Drone market size is estimated to be worth USD 6510.8 million in 2022 and is forecast to be a readjusted size of USD 34500 million by 2028 with a CAGR of 32.0% during the review period.
- The global Drone Software market size is projected to reach USD 10030 million by 2027, from USD 1004 million in 2020, at a CAGR of 38.9% during 2021-2027.
- The global Drone Defense System market size was USD 1825.6 million in 2020 and it is expected to reach USD 16460 million by the end of 2027, with a CAGR of 36.7% during 2021-2027.
- The global Counter UAV market size is projected to reach USD 3948.6 Million by 2028, from USD 736 Million in 2021, at a CAGR of 26.8% during 2022-2028
- The global Anti-Drone market size is estimated to be worth USD 1323.8 million in 2022 and is forecast to be a readjusted size of USD 5098.4 million by 2028 with a CAGR of 25.2% during the review period.
- Due to the COVID-19 pandemic, the global Unmanned Aerial Vehicle market size is estimated to be worth USD 32350 million in 2022 and is forecast to be a readjusted size of USD 72320 million by 2028 with a CAGR of 14.4% during the review period.
- The global Medical Drones market size is estimated to be worth USD 96900 million in 2022 and is forecast to a readjusted size of USD 212700 million by 2028 with a CAGR of 14.0% during the review period.
- The global Command, Control, Communications, Computers, Intelligence, Surveillance & Reconnaissance (C4ISR) market size is projected to reach US$ 104550 million by 2028, from US$ 87810 million in 2021, at a CAGR of 2.5% during 2022-2028.
- The global EVTOL aircraft market size was valued at USD 45310 million in 2020 and is expected to reach USD 97370 million by the end of 2027 with a CAGR of 11.1% during 2021-2027.
- The global Drone Logistics and Transportation market size is projected to reach USD 12180 million by 2028, from USD 5752.2 million in 2021, at a CAGR of 10.8% during 2022-2028.
- The global Small UAV market size was USD 4350.3 Million in 2020 and it is expected to reach USD 5726.2 Million by the end of 2027, with a CAGR of 3.9% during 2021-2027.
- The global Drones market size was USD 4350.27 million in 2020 and it is expected to reach USD 5437 million by the end of 2027, with a CAGR of 3.94% during 2021-2027.
- The global Perimeter Security market size is estimated to be worth USD 124860 million in 2022 and is forecast to be a readjusted size of USD 186330 million by 2028 with a CAGR of 6.9% during the review period.
- The global SOC as a Service market size is projected to reach USD 772.9 million by 2027, from USD 296.3 million in 2020, at a CAGR of 14.2% during 2021-2027.
- The global Military Image Intensifier market was valued at USD 672.2 Million in 2020 and it is expected to reach USD 1145.3 Million by the end of 2027, growing at a CAGR of 7.9% during 2021-2027.
- Global Drone Accessories Market Insights, Forecast to 2028
- Global Security as a Service (SECaaS) Market Insights, Forecast to 2028
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