The Military Drones Market Will Grow At 19.45% CAGR To 2023, Driven By Government Funding

The Military Drones Market Will Grow At 19.45% CAGR To 2023, Driven By Government Funding

Military Drones Market Global Report 2020-30: Covid 19 Growth And Change
The Business Research Company’s Military Drones Market Global Report 2020-30: Covid 19 Growth And Change, Segments Covered: 1) By Drone Type: MALE; HALE; TUAV; UCAV; SUAV 2) By Type: Fixed-Wing; Rotary Wing; Hybrid 3) By Technology: Remotely Operated; Semi-Autonomous; Autonomous 4) By Application: Search and Rescue; National Defense; Military Exercises; Others

The global military drones’ market size is expected decline from $13.55 billion in 2019 to $11.83 billion in 2020 at a compound annual growth rate (CAGR) of -12.70%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $20.16 billion in 2023 at CAGR of 19.45%.

Increasing government funding on military drones to enhance efficiency in military operations boosts the demand for the production of military drones. According to a 2018 report published by the Bard College Center for the Study of the Drone, in 2019, the U.S. Navy funding for unmanned systems increased by $1 billion (38%) and the U.S Army funding increased by $719 million (73%), when compared to 2018. Furthermore, the Department of Defense in the US 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 the 2018 budget, which was $7.5 billion. Hence, the increasing government spending on unmanned drones is driving the military drones’ market.

The shortage of trained and skilled military drone pilots equates lesser usage of military drones, thus hindering the military UAV market growth. Military drones are more sophisticated compared to commercial drones and require trained pilots to operate them. Though the current budget supports purchases of military drones, lack of trained professionals could lead to lesser drone utilization. According to an article by The Washington Post published in 2016, the lack of skilled drone pilots caused the US military to cut 8% of its drone combat missions in 2015. The number of active pilots in the US has declined from over 800,000 in 1980 to barely 600,000 in 2017. There is a need for 637,000 drone pilots.

According to military drones’ market trends, drone swarm technology is growing in popularity in the market due to its cost efficiency and high fire-power. Drone swarms are a large group of small drones that coordinate with each other to perform actions such as a survey of enemy territories, search and rescue missions, and attacks on hostile objects. Drone swarm technology involves the production of several small and cheap drones rather than one large expensive drone, therefore offering military drone manufacturers and end-users efficiency in terms of cost and time. With the use of advanced swarm technologies, military and armed forces can effectively carry out lethal drone strikes in multiple places at once. For instance, Microsystems developed a drone swarming system called the WOLF-PAK in 2017, which has the capability to fly small drones in groups and make them split away from the group whenever necessary. In 2019, the U.S Defense Advanced Research Projects Agency (DARPA), and the U.S Air Force Research Lab invested in a project called Gremlins, involving multiple controlled micro-drones that drop out of cargo planes to swarm enemy defenses.

Here Is A List Of Similar Reports By The Business Research Company:

Consumer (Recreational) Drones Market Global Report 2020: COVID-19 Growth And Change

Commercial Drones Market Global Report 2020-30: Covid 19 Growth And Change

Military Robots Market Global Report 2020-30: Covid 19 Growth And Change

The World’s Most Comprehensive Database
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.

Interested to know more about The Business Research Company?
The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.

Contact Information
The Business Research Company
+44 207 1930 708
+91 8897263534
+1 315 623 0293
Follow us on LinkedIn:
Follow us on Twitter:

Media Contact
Company Name: The Business Research Company
Contact Person: Oliver Guirdham
Email: Send Email
Phone: +44 20 7193 0708
Address:1st Floor, Anshu Colors Building, Road Number 1
City: London
State: Greater London
Country: United Kingdom