Military Drone Market Size, Share | Statistics Report 2028

The military drone market is expected to grow from US$ 11.70 billion in 2021 to US$ 31.38 billion by 2028 at a CAGR of 15.7% between 2022 and 2028.

Military UAVs or military drones are specifically designed to conduct various military operations, including unmanned surveillance, tactical ground airborne missions, and search and rescue missions. Different countries across the globe are investing heavily in the development and deployment of drones across their respective armed forces.

Several vendors are majorly focusing on the development of different payload-based UAV systems. The military drone systems such as mini-drones, medium, and large sized drones are being designed for different types of military operations such as transportation of supplies, combat, countermeasure, and surveillance applications. For instance, the small/mini drones with smaller range and payload capacity are mostly used by armed forces for the ISR (Intelligence, Surveillance, and Reconnaissance) operations. Similarly, medium and large sized drones are used for ISR, combat, transportation of supplies, as well as countermeasure applications by military forces. In addition, the development of unmanned helicopters to carry out different military surveillance operations is generating awareness among the end user for the procurement of military drones across the world.

MARKET DYNAMICS

Unmanned systems are being deployed across armed forces owing to increasing unmanned warfare and ISR operations. Also, the rising military expenditure across different countries are bolstering the development and procurement of UAVs across their military sector. For instance, in February 2020, the US army awarded a contract worth US$ 100 million to Skydio company to supply its X2D UAVs for the US Army’s Short-Range Reconnaissance Program (SRR). Similarly, in March 2022, the Indian army awarded a contract to ideaForge to supply 200 units of Switch UAV systems for a period of two years wherein the company will deliver its first lot of 100 UAVs in 2022 and the remaining 100 units will be supplied in 2023.

Further, the development of miniature drone systems and the introduction of drone swarm systems by military drone manufacturers are supporting the adoption of drones across the military sector. For instance, in March 2022, the US army awarded a contract worth US$ 14 million to Virginia-based BlueHalo for HIVE small-unmanned aircraft swarm system (sUAS) of drones. Similarly, in September 2021, the Indian army awarded a contract worth US$ 15 million to NewSpace Research and Technologies for the supply of 100 swarm drones to the Indian army. Such instances are propelling the growth of military drone market globally.

Strategic Insights

Report Coverage - Military Drone Market

Report Coverage	Details
Market Size Value in	US$ 11.70 Billion in 2021
Market Size Value by	US$ 31.38 Billion by 2028
Growth rate	CAGR of 15.7% from 2022 to 2028
Forecast Period	2022-2028
Base Year	2021
No. of Pages	150
Historical data available	Yes
Segments covered	Type, Application, Range, Technology, and Geography
Regional scope	North America; Europe; Asia Pacific; Latin America; MEA
Country scope	US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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MARKET SCOPE

The "Global Military Drone Market Analysis to 2028" report aims to provide an overview of military drone market with detailed market segmentation based on type, application, range, and technology. The report provides key market statistics based on the financial performances of the leading military drone market players. It also offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global military drone market is segmented on the basis of type, application, range, and technology. Based on type, the market is segmented into MALE, HALE, tactical, and small/mini. By application, the market is segmented into ISR, warfare, search & rescue, and others. Based on range, the military drone market is segmented into short range, medium range, and long range. By technology, the military drone market is bifurcated into fixed wing and rotary wing.

REGIONAL FRAMEWORK

The global military drone market, based on region, is segmented into five major regions—North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA) and South America. The report covers analysis and forecast of 18 countries across the world along with trends and opportunities prevailing in the region.

From the regional perspective, North America dominates the military drone market with ~40% market share in 2021, followed by Europe. The market growth in the region is attributed to the presence of a large number of military drone manufacturers in the region. In addition, the military sector across the region is spending high amount on the development of military drone systems, which is one of the major factors driving the market growth in the region. Further, the supportive government policies for the development of drone systems to enhance the defense capabilities of armed forces across the region is another major factor catalysing the military drone market growth across North America.

Furthermore, Northrop Grumman, UAVOS Inc., AeroVironment Inc, and many major defense fixed wing UAV manufacturers are taking sheer interest in the development of fixed wing drones and unmanned helicopter systems for the US armed forces, which is another major factor aiding the military drone market growth in the region. For instance, in January 2022, the US Navy announced that it has operationally deployed Northrop Grumman’s developed MQ-8C Fire Scout helicopters in the USS Milwaukee naval ship.

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Source: The Insight Partners Analysis

The report analyzes factors, such as drivers, restraints, opportunities, and future trends, which impact the military drone market. It also provides exhaustive Porter's five forces analysis of the factors influencing the market.

IMPACT OF COVID-19 PANDEMIC

The impact of the COVID-19 pandemic on various industries, such as military, aerospace, and manufacturing, had been severe. All these industries are recovering from the losses caused by the pandemic. The crisis effect caused a temporary halt across various production facilities, because of which the production of military drones had been hindered. Complete or partial halting of operations across various countries restrained the global manufacturing sectors, declined revenue for several enterprises, and disrupted supply chains and logistics.

COVID-19 outbreak put the shipping and marine industries in the worst possible position due to unavailability of workforce for safety and to prevent the spread of COVID-19 virus infection, which directly impacted the import and export of military drones across the global market. The manufacturers faced challenges in the procurement of components and raw materials as the entire supply chain industry was disrupted during the COVID-19 pandemic. Therefore, the companies announced delays in product deliveries. Similarly, some of the military drone contracts had also been delayed that were expected to be completed in the year 2020-2021 due to the COVID-19 pandemic. Such instances had hampered the military drones market growth during the FY 2020. However, the investments in the procurement of military drone technologies had not been impacted during the pandemic.

MARKET PLAYERS

The report covers key developments in the military drones market. Various companies are focusing on organic growth strategies, such as product launches, product approvals, and patents and events. In addition, acquisitions, and partnerships & collaborations are among the inorganic growth strategies witnessed in the market. These activities have paved way for the expansion of business and customer base of market players. The players operating in the military drones market are anticipated to experience lucrative growth opportunities in the future owing to the rising demand for military drones.

The report also includes the profiles of key military drones market companies along with their SWOT analysis and market strategies. In addition, it focuses on leading industry players with information, such as company profiles, components and services offered, financial information of last 3 years, and key developments in past five years.

KEY MARKET PLAYERS

• Northrop Grumman Corporation
• Elbit Systems Ltd.
• Israel Aerospace Industries (IAI)
• Raytheon Technologies
• Lockheed Martin Corporation
• BAE Systems Plc
• SaaB AB
• Thales Group
• Boeing
• Aviation Industry Corporation of China (AVIC)

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

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