Global Military Drones Market Size 2024, Forecast To 2033

11 Mar, 2024

The military drones market has demonstrated strong growth, moving from $15.8 billion in 2023 to $17.22 billion in 2024, reflecting a compound annual growth rate (CAGR) of 9.0%. This growth in the historic period is linked to increasing military expenditure, the growing use of military drones, increased government funding for military drones, and low-interest rates. Projecting into 2028, the market is expected to see strong growth, reaching $22.03 billion at a slightly decreased CAGR of 6.4%. Anticipated drivers of this growth include an increase in government funds and increasing internal and external security threats. Noteworthy trends in the forecast period encompass strategic mergers and acquisitions, a focus on the use of 3D printing, the integration of the internet of things (IoT), the implementation of autonomous systems, and a focus on implementing emerging technologies such as artificial intelligence (AI).

Global Military Drones Market Key Driver

Increasing government funding for military drones to enhance efficiency in military operations boosts the demand for the production of military drones. For instance, in May 2021, according to an article published by the National Defense Industrial Association, a US-based trade association for the United States’ government and defense industry, in fiscal year 2021, the US Defense Department allotted $7.5 billion for a range of robotic platforms and associated technologies. For the purchase of unmanned systems, the Navy and Air Force each received about $1.1 billion, the Army received $885 million, the Marine Corps $70 million, and SOCOM $90 million. Hence, the increasing government spending on unmanned drones is driving the military drone market demand. In 2023, the impact of increased funding is evident, and by 2024, the military drone market continues to thrive. Looking ahead to 2028, the market size is projected to exhibit sustained growth, fueled by ongoing investments in military drone technology.

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Global Military Drones Market Segments

The military drones market covered in this report is segmented –
1) By Drone Type: MALE, HALE, TUAV, UCAV, SUAV
2) By Technology: Remotely Operated, Semi-Autonomous, Autonomous
3) By Type: Fixed-Wing, Rotary Wing, Hybrid
4) By Application: Search And Rescue, National Defense, Military Exercises, Other Applications
By Geography:The regions covered in the military drones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain Asia-Pacific was the largest region in military drones market in 2023. Western Europe is expected to be the fastest-growing region in the global military drones market share during the forecast period. The regions covered in the military drones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Major Military Drones Industry Players

Lockheed Martin Corporation, Northrop Grumman Corp, Thales Group, The Boeing Company, Raytheon Technologies, General Atomics Aeronautical Systems, Inc, Aerovironment, Inc, Elbit Systems Ltd, Israel Aerospace Industries Ltd, Textron Inc, Central Aircraft Manufacturing Company, ChemChina, China Academy of Launch Vehicle Technology, China Communications Construction Company, China Electronics Corporation, China National Chemical Engineering, Babcock International, BAE Systems, BMARC, BMT Group, British Aerospace, Panstwowe Wytwórnie Uzbrojenia, Panstwowe Zaklady Inzynierii, Polish Armaments Group, Polish Navy Shipyard, Gyrofly Innovations, Drone Livre, Santos Lab, Alexandria Shipyard, Arab American Vehicles, Arab Organization for Industrialization

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Military Drones Market Overview

Military drone refers to unmanned aerial vehicles that are specifically used for military purposes such as border surveillance, battle damage management, combat operations, communication, delivery, and anti-terrorism weaponry.

Military Drones Global Market Report 2023 provides data on the global military drones market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The military drones market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.