The global military drone market is expected to exhibit a CAGR of 10.9% during the market period. The market growth is attributed to various factors such as increasing adoption of UAVs for different military operations, growing defense budget, increasing application of military drones for surveillance, and others.
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Increasing adoption of unmanned aircraft vehicles (UAVs) for various military operations
Increasing the use of UAVs for various military applications such as monitoring, surveying, mapping, and combat operations propel the military drones market. Increasing demand for advanced border protection and surveillance solutions is encouraging the demand for UAVs in the military. Various countries such as China and India have been significantly investing in the development and acquisition of UAVs.
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In India, the Defense Research and Development Organization (DRDO) is highly engaged in the development of UAVs, such as Nishant, AURA, and Rustom. The demand for UAVs for military applications in Asia-Pacific is remarkable due to increasing internal and external security threats and initiatives for modernization by armed forces. UAVs are used for security and surveillance programs, which is of great importance in military applications. Moreover, in March 2016, Indian defense forces confirmed a blueprint to buy over 5,000 UAVs over the next 10 years for nearly $3 billion, as per DRDO.
Growing defense budget propel the military drone market
Increasing defense budget encourages the adoption of advanced technology such as drones for various military applications. The defense sector is increasing considerably across the globe due to significant funding in the form of official budgets and ongoing investments by the governments. The countries are supporting the defense expenditure with huge budget sanctions which as a result is propelling the purchasing and acquisition power of military organizations under the defense protocols.
The US is the largest defense spending economy across the globe owing to growth in the modernization of military and war techniques, the requirement of highly advanced weapons, and others. According to the Stockholm International Peace Research Institute (SIPRI), the total expenditure of the US was around $649 billion, China was $250 billion, Saudi Arabia was $67.5 billion, Russia was $61.3 billion, India was $66.5 billion, and France was $63.8 billion in 2018. Other countries spent substantially less as compared to the US, however, a considerable amount of the defense expenditure of all the economies is dedicated to modern warfare.
Increasing application in surveillance boosting the military drones market
Surveillance and reconnaissance are essential activities for military organizations for several purposes, such as hostage, survivor rescue and target acquisition. Military surveillance equipment allows the monitoring of changing environment and behavior activities with the view to direct, protect or support military personnel.
Increasing demand for UAVs for military surveillance and reconnaissance operations is significantly impacting the growth of the market. For instance, in January 2019, SRC, Inc. has been awarded a contract from the US Army and was valued $108 million to support defeat enemy drones on the battlefield. The increased adoption of UAV drones for surveillance applications leads to the adoption of surveillance equipment for monitoring enemy and terror activities and make strategic decisions.
Global Military Drones Market Segmentation
By Type
- Rotary Wing
- Fixed Wing
- Hybrid
By Application
- Surveillance
- Combat Operations
- Transportation and Delivery
- Battle Damage Management
Military drones Market-Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- Aeronautics Ltd.
- AeroVironment, Inc.
- Airbus S.A.S.
- Altavian, Inc.
- BAE Systems PLC
- Boeing Co.
- China Aerospace Science and Technology Corp.
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