(I-BusinessNews.Com, August 07, 2021 ) According to the new market research report the Military Drones Market is projected to grow from USD 12.1 billion in 2018 to USD 26.8 billion by 2025, at a CAGR of 12.00% from 2018 to 2025. Rise in the procurement of UAVs by defense forces, worldwide is one of the most significant factors contributing to the growth of the military drones market. The increasing use of UAVs in various military applications such as monitoring, surveying and mapping, and combat operations is also contributing to the growth of the military drones market across the globe.
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Based on range, the Beyond Line of Sight (BLOS) segment is expected to be the largest contributor to the military drones market during the forecast period.
Based on range, the military drones market has been classified into Visual Line of Sight (VLOS), Extended Visual Line of Sight (EVLOS), and Beyond Light of Sight (BLOS). The Extended Visual Line of Sight (EVLOS) segment of the military drones market is projected to grow at the highest CAGR from 2018 to 2025. This growth can be attributed to the increasing use of EVLOS UAVs in intelligence, surveillance, reconnaissance, and target acquisition applications. The Beyond Line of Sight (BLOS) segment is projected to lead the market during the forecast period.
Based on application, the Intelligence, Surveillance, Reconnaissance, and Target Acquisition (ISRT) segment is expected to be the largest contributor to the military drones market from 2018 to 2025.
Based on application, the military drones market has been segmented into intelligence, surveillance, reconnaissance, and target acquisition, delivery and transportation, combat operations, and battle damage management. The delivery and transportation segment of the military drones market is projected to grow at the highest CAGR from 2018 to 2025. This growth can be attributed to the increased adoption of UAVs for providing supplies to troops and soldier deployed in remote areas.
Based on propulsion type, the battery powered segment is expected to be the largest contributor to the military drones market during the forecast period.
Based on propulsion type, the military drones market has been segmented into battery powered, fuel cell, and hybrid cell. The fuel cell segment is projected to grow at the highest CAGR during the forecast period, owing to the increasing demand for high endurance UAVs by the defense sector for use in surveillance and reconnaissance applications.
Based on region, the military drones market has been segmented into North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa. The North American region is estimated to be the largest market for military drones in 2018. The increasing use of military drones for border and maritime surveillance activities in countries such as the US and Canada is driving the growth of the military drones market in the North American region.
Key Market Players
Key players operating in the military drones market include General Atomics Aeronautical Systems, Inc. (GA-ASI) (US), Northrop Grumman Corporation (US), Elbit Systems Ltd. (Israel), Israel Aerospace Industries Ltd. (Israel), AeroVironment, Inc. (US), Lockheed Martin Corporation (US), Thales Group (France), and Boeing (US), among others.
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