The global military drones market was valued at about $12.1 billion in 2018 and is expected to grow to $19.04 billion at a CAGR of 12.0% through 2022.
The military drones market consists of sales of military drones and related services. The military drones are specifically used for military purposes such as border surveillance, battle damage management, combat operations, communication, delivery, and anti-terrorism weaponry. Military drones include tactical drones, MALE (Medium altitude, long endurance) drones, HALE (High altitude, long endurance) drones, TUAV (Tactical unmanned air vehicle) drones, UCAV (Unmanned combat air vehicle) drones, SUAV (Small unmanned air vehicle) drones and others.
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Military Drones Market Trends
The military drones market has been geographically segmented into North America, Western Europe, APAC, Eastern Europe, South America and Middle East & Africa. The North American market is the largest market for military drones and is expected to continue to be the largest market during the forecast period.
Increasing government funding on military drones to enhance efficiency in military operations boosts the demand for the production of military drones. According to the 2018 report published by the Bard College Center for the Study of the Drone, in 2019 U.S. Navy funding for unmanned systems increased by $1 billion (38%) and U.S Army funding increased by $719 million (73%) when compared to the 2018. Furthermore, Department of Defense in U.S requested approximately $9.39 billion for drones and associated technologies in the fiscal year 2019 representing a significant expansion of 26% in drone spending over 2018 budget, $7.5 billion. Hence, the increasing government spending on unmanned drones is driving the military drones market.
Major players in the global military drones market include Northrop Grumman, Lockheed Martin, Boeing, AeroVironment and General Atomics.
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Few Points From Table of Contents:
1. Executive Summary
2. Military Drones Market Characteristics
3. Military Drones Market Size And Growth
3.1. Global Military Drones Historic Market, 2014 – 2018, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Military Drones Forecast Market, 2018 – 2022F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Military Drones Market Segmentation
4.1. Global Military Drones Market, Segmentation By Drone Type, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
4.2. Global Military Drones Market, Segmentation By Type, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
4.3. Global Military Drones Market, Segmentation By Application, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
Search and Rescue
4.4. Global Military Drones Market, Segmentation By Technology, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
5. Military Drones Market Regional And Country Analysis
5.1. Global Military Drones Market, Split By Region, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
5.2. Global Military Drones Market, Split By Country, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
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