The global autonomous military weapons market size is expected grow from $12.04 billion in 2021 to $13.30 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The autonomous military weapons market is expected to reach $19.75 billion in 2026 at a CAGR of 10.4%.
What is the Global Autonomous Military Weapons Market?
The autonomous military weapons market consists of sales of autonomous military weapons, which when activated, search, detect, evaluate the threat, track and attack enemy targets and work based on sophisticated algorithms without further intervention by a human operator. It requires the integration of several core elements like a mobile combat platform such as drone aircraft, ship, or ground vehicle, various types of sensors to scrutinize the surroundings, processing systems to classify objects discovered by the sensors, and algorithms directing the platform to initiate attack when an allowable target is detected. The market consists of revenue generated by the companies manufacturing autonomous military weapons by the sales of these products.
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What drives the Global Autonomous Military Weapons Market?
The ability to perform dangerous tasks with precision contributed to the growth of the autonomous military weapons market. Autonomy in weapons enables 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 along with 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 autonomous military weapons market.
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Global Autonomous Military Weapons Market Segments
The global autonomous military weapons market is segmented:
By Type: Autonomous, Semi-Autonomous
By Product: Missiles, Rockets, Guided Bombs, Target Pods, Others
By Platform: Land, Airborne, Naval
By Geography: The regions covered in the autonomous military weapons market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Autonomous Military Weapons Global Market Report 2022provides market size and growth forecasts for the global autonomous military weapons market, global autonomous military weapons market share, autonomous military weapons market segments and geographies, autonomous military weapons market competitive landscape including leading competitors’ revenues, profiles and market shares. The autonomous military weapons market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Autonomous Military Weapons Industry Playersinclude Lockheed Martin, Boeing, Raytheon, AVIC, CASC, Rostec, Israel Aerospace Industries, Elbit Systems, Rafael, and STM. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
