Military Drone Market to Exhibit a Remarkable CAGR of 12.21% by 2030, Size, Share, Trends, Key Drivers, Demand, Opportunity Analysis and Competitive Outlook

According to MarkNtel Advisors study the Global Military Drone Market size was valued at around USD 20.21 billion in 2023 and is estimated to grow at a CAGR of around 12.21% during the forecast period, i.e., 2024-30.

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Key Findings of the Study: Military Drone market

Global Military Drone Market Driver:

Growing Demand for Unmanned Systems to Strengthen the Market's Outlook – The rise in popularity of unmanned systems, including military drones, stems from their capability to operate in hazardous environments while mitigating risks to military personnel. These systems offer persistent surveillance, reconnaissance, and strike capabilities, making them invaluable assets for military operations. In the context of modern warfare, characterized by asymmetric conflicts requiring a flexible & adaptable approach, the utilization of unmanned systems holds particular significance.

Military drones, equipped with an array of sensors, cameras, and advanced technologies, are versatile in performing diverse missions, ranging from intelligence gathering to target acquisition & strike operations. Consequently, there has been a significant surge in demand for military drones, prompting numerous countries to invest in the development & deployment of these systems, further driving the Military Drone Market.

Global Military Drone Market Challenge:

High Prices for Advanced Electronics & Modern Systems to Stifle Industry Development – Unmanned Aerial Vehicles (UAVs) are outfitted with advanced propulsion systems, state-of-the-art avionics systems, sophisticated flight management technology, modern sensors, and payloads. These parameters involve intricate software & high-quality hardware systems tailored to the severity of the intended operations. The deployment of military UAVs encompasses distinct product portfolios for the Army, Air Force, and Navy, reflecting diverse applications that contribute to variations in overall product costs.

These factors contribute to the substantial final price of UAVs on a global scale. Consequently, the significant product and maintenance costs are anticipated to act as constraints on the growth of the Military Drone Market. Additionally, limitations on deploying UAVs in certain countries and restricted use within aerial spaces are expected to impede future demand.

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Scope of the Report and Military Drone Market Segmentation:

By Platform

• Small- Market Size & Forecast 2019-2030F, USD Million
  • Nano- Market Size & Forecast 2019-2030F, USD Million
  • Micro- Market Size & Forecast 2019-2030F, USD Million
  • Mini- Market Size & Forecast 2019-2030F, USD Million
• Tactical- Market Size & Forecast 2019-2030F, USD Million
  • Close Range- Market Size & Forecast 2019-2030F, USD Million
  • Short Range- Market Size & Forecast 2019-2030F, USD Million
  • Medium Range- Market Size & Forecast 2019-2030F, USD Million
  • Long Range- Market Size & Forecast 2019-2030F, USD Million
• Strategic- Market Size & Forecast 2019-2030F, USD Million

By Speed

• Subsonic- Market Size & Forecast 2019-2030F, USD Million
  • <100 Km/hr- Market Size & Forecast 2019-2030F, USD Million
  • 100- 300 Km/hr- Market Size & Forecast 2019-2030F, USD Million
  • >300 Km/ hr- Market Size & Forecast 2019-2030F, USD Million
• Supersonic- Market Size & Forecast 2019-2030F, USD Million

By Product Type

• Fixed Wing- Market Size & Forecast 2019-2030F, USD Million
• Rotary Wing- Market Size & Forecast 2019-2030F, USD Million
• Hybrid- Market Size & Forecast 2019-2030F, USD Million

By Technology

• Remotely Piloted- Market Size & Forecast 2019-2030F, USD Million
• Semi-Autonomous Piloted- Market Size & Forecast 2019-2030F, USD Million
• Fully Autonomous- Market Size & Forecast 2019-2030F, USD Million

By Range

• Visual Line of Sight (VLOS)- Market Size & Forecast 2019-2030F, USD Million
• Extended Visual Line of Sight (EVLOS)- Market Size & Forecast 2019-2030F, USD Million
• Beyond Line of Sight (BLOS)- Market Size & Forecast 2019-2030F, USD Million

By Propulsion

• Turbo Engine- Market Size & Forecast 2019-2030F, USD Million
• Piston Engine- Market Size & Forecast 2019-2030F, USD Million
• Battery- Market Size & Forecast 2019-2030F, USD Million

By Application

• Intelligence Surveillance Reconnaissance and Targeting (ISRT)- Market Size & Forecast 2019-2030F, USD Million
• Combat Operations- Market Size & Forecast 2019-2030F, USD Million
• Battle Management- Market Size & Forecast 2019-2030F, USD Million
• Logistics & Transportation- Market Size & Forecast 2019-2030F, USD Million

The Fixed Wing segment held the largest share of the Military Drone Market as of 2022 and is expected to maintain its dominance throughout the forecast period.

Military Drone Market Development:

• 2023: Boeing announced the potential inclusion of its MQ-28 drone in the US Air Force's arsenal. This development signals a significant stride, paving the way for new opportunities in growth & collaboration within the defense sector.

Geographical Analysis:

By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

North America is expected to hold an overwhelming foothold in the Military Drone Market during the forecast years, with the highest market share.

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