The autonomous military weapons market has experienced rapid growth, surging from $14.68 billion in 2023 to $16.21 billion in 2024, with a compound annual growth rate (CAGR) of 10.4%. This historical growth is driven by past conflicts and military strategies, sustained research and development investments, regulatory milestones, budget allocations, and the successes and failures of autonomous military technologies. Moving forward to 2028, the market is expected to grow rapidly, reaching $24.07 billion at a CAGR of 10.4%. Anticipated growth drivers for this period include increased adoption by non-state actors, shifts in supply chain dynamics, public opinion and advocacy considerations, geopolitical shifts, and industry innovation. Key trends include public perception and acceptance, collaboration and alliances, geopolitical tensions, ethical concerns, and a focus on cost efficiency within the autonomous military weapons sector.
Major Driver In The Autonomous Military Weapons Market
The ability to perform dangerous tasks with precision has contributed to the growth of the autonomous military weapons market. Autonomy in weapons enables us to keep army personnel away from dangerous tasks or any imminent risk to human life. Besides this, increased reaction speed in decision making and eyes on the target will potentially increase accuracy. It has access to a larger amount of information, greater accuracy, and greater predictability for certain functions, freeing humans from dull or repetitive tasks and permitting access to environments that are inaccessible to remote control technologies. Major countries such as the USA, China, and Russia are significantly investing in artificial intelligence (AI) for weapons and are competing for superiority in this segment. For instance, Russia is investing $719 million until 2021 in AI research and development for weapons. The ability to hit the target without human involvement, along with minimizing risk to human life, increased the demand for the growth of the autonomous military weapons market. The autonomous military weapons market size was $11.2 billion in 2023, and it is expected to reach $24.9 billion by 2028.
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Autonomous Military Weapons Market Competitive Landscape
China North Industries Group Corporation Limited, Aviation Industry Corporation of China, Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Airbus Group Inc., Kalashnikov Concern LLC, China Aerospace Science and Technology Corporation, General Dynamics Corporation, Northrop Grumman Corporation, Mitsubishi Heavy Industries Ltd., Rostec State Corporation, BAE Systems plc, L3Harris Technologies Inc., Thales Group, Textron Inc., Kawasaki Heavy Industries Ltd., Rheinmetall AG, Elbit Systems Ltd., Israel Aerospace Industries Ltd., Saab AB, Kongsberg Gruppen ASA, Rafael Advanced Defense Systems Ltd., Bharat Electronics Limited, Palantir Technologies Inc., Kratos Defense & Security Solutions Inc., Denel SOC Ltd., Anduril Industries Inc., Savunma Teknolojileri Mühendislik ve Ticaret A.S., Matra BAe Dynamics
Key Autonomous Military Weapons Market Trend
Major companies in the autonomous military weapons market are focusing on creating innovative products like unmanned ground vehicles (UGVs) to provide reliable services. UGVs are ground vehicles operated without a human presence. For example, in September 2021, MSI Defence Systems Ltd., a UK-based defense and space systems manufacturer, collaborated with Milrem Robotics, an Estonian robotic vehicle manufacturer, to launch THeMIS, a highly mobile unmanned kinetic C-UAV. This system integrates with MSI-DSL's Remote Weapon Systems (RWS) and Electrical Optical Sensor Systems, offering a groundbreaking solution for targeting mini-UAVs, loitering munitions, and other small, hard-to-detect aerial targets. It can transport payloads ranging from Northrop Grumman’s M230 gun to Thales LMM missiles.
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Autonomous Military Weapons Market Segmentation
The autonomous military weapons market covered in this report is segmented –
1) By Type: Autonomous, Semi-autonomous
2) By Product: Missiles, Rockets, Guided Bombs, Target Pods, Others
3) By Platform: Land, Airborne, Naval
By Geography:The regions covered in the autonomous military weapons market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the autonomous military weapons market in 2023.
The Autonomous Military Weapons Global Market Report 2024 furnishes information about the global autonomous military weapons market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
