Military Drone Market Size to Hit USD 23.78 Billion by 2027; Rapid Advancements in Drone Technologies to Open New Avenues of Expansion for the Market, Says Fortune Business Insights™

Top companies covered in the military drone market are Textron Systems (US), BAE Systems (UK), Thales Group (France), AeroVironment, Inc. (US), Elbit Systems Ltd. (Israel), General Atomics Aeronautical Systems, Inc. (US), SAAB Group (Sweden), Boeing (US), Lockheed Martin Corporation (US), Israel Aerospace Industries Ltd. (Israel), Northrop Grumman Corporation (US),

Pune, Nov. 11, 2020 (GLOBE NEWSWIRE) -- The global military drone market size is projected to reach USD 23.78 billion by 2027, exhibiting a CAGR of 12.12% during the forecast period. Expanding military spending in major world economies will be a critical growth determinant for this market, finds Fortune Business Insights™ in its report, titled Military Drone Market Size, Share & COVID-19 Impact Analysis, By Product Type (Fixed Wing, Hybrid and Rotary Wing), By Range (Visual Line Of Sight (VLOS), Extended Visual Line Of Sight (EVLOS), and Beyond Line Of Sight (BLOS)), By Technology (Remotely Operated Drones, Semi-Autonomous Drones, and Autonomous Drones), By Application (Intelligence, Surveillance Reconnaissance and Targeting(ISRT), Combat Operations, Battle Damage Management, Logistics & Transportation and Others), and Regional Forecast, 2020-2027”. Recent estimates released by the Stockholm International Peace Research Institute (SIPRI) show that the total global military expenditure rose by 3.6% from 2018 levels, reaching USD 1,917 billion in 2019. The biggest spenders were the US, China, India, Russia, and Saudi Arabia, who together accounted for 62% of this staggering rise. The demand for unmanned aerial vehicles (UAVs) is expected to skyrocket in view of the increased military spending as countries are aggressively strengthening their defense arsenal to deter hostile parties and effectively raise the safety and security of their borders and their citizens.

The COVID-19 pandemic outbreak has generated unparalleled uncertainty across the global economic spectrum. Many businesses are struggling to cope with rapidly changing circumstances. Governments are modifying, altering, and developing new policies and measures to navigate their countries out of these challenging times. We, at Fortune Business Insights™, are also taking solid efforts to generate intelligent analysis on different markets and providing a detailed assessment of the impact of this pandemic on your business.

Get Sample PDF Brochure with Impact of COVID19:

List of Top Companies Profiled in the Military Drone Market Report:

  • Textron Systems (US)
  • BAE Systems (UK)
  • Thales Group (France)
  • AeroVironment, Inc. (US)
  • Elbit Systems Ltd. (Israel)
  • General Atomics Aeronautical Systems, Inc. (US)
  • SAAB Group (Sweden)
  • Boeing (US)
  • Lockheed Martin Corporation (US)
  • Israel Aerospace Industries Ltd. (Israel)
  • Northrop Grumman Corporation (US)

The report states that the global market value stood at USD 10.53 billion in 2019 and provides the following:

  • Quantitative and qualitative analysis of the key drivers and restraints shaping the market growth;
  • Actionable insights into regional developments and their impact on the market;
  • The detailed evaluation of the various market segments; and
  • Careful examination of the prominent players and their dominant strategies.

Market Driver

Promising Advancements in Autonomous UAVs to Boost Growth

The introduction of artificial intelligence (AI) in UAVs has triggered an unprecedented wave of innovation in drone technology. Several companies and start-ups are actively researching and developing UAVs armed with autonomous tools powered by AI and machine learning (ML) capabilities, which is fueling the military drone market growth. For example, Lockheed Martin, the aerospace & defense behemoth, offers a drone designed for field use called ‘Desert Hawk III’ that can be operated by a single user.

The drone can chart its upcoming flight path and even train the operator on how to deploy and maneuver it in the field. Similarly, another US-based defense company, AeroVironment, has a novel line-up of military drones called the Raven series, which can fly autonomously along a route using GPS coordination and computer vision. Such innovations are intensifying technology-based conflicts between countries and widening the scope of the market for the military drones.

Inquire Before Buying This Research Report:

Regional Insights

Massive Investments in Drone Technology to Drive Market Growth in North America

The market size for military drones in North America stood at USD 3.8 billion in 2019 and the region is expected to retain its dominant position throughout the forecast period. The central factor propelling the regional market growth is the large-scale investments being made by the governments and private defense companies and OEMs in the US and Canada in UAV technology.
Europe occupies a strong position in the military drone market share owing to the increasing adoption of tactical drones for conducting surveillance operations. Their demand has also spiked in recent years due to the increasing threat of terrorist attacks. In Asia Pacific, market growth will be led by the steadily rising military expenditures of India and China.

Competitive Landscape

Core Competitors to Strategically Invest to Broaden Operational Horizons

The competitive dynamics of this market are being shaped by the activities of dominant players in the defense industry such as Boeing and Textron. These players are heavily investing in R&D to diversify their offerings and expand their operations through government contracts and private partnerships.

Industry Developments:

  • June 2020: The Thales Group entered into an agreement with the State of North Dakota to establish a statewide unmanned aircraft systems network to conduct beyond visual line of sight (BVLOS) operations. Thales will be coordinating with a consortium of companies based in North Dakota and facilitate systems integration as well as provide engineering services.
  • February 2020: BAE Systems successfully completed the maiden test flight of the Persistent High Altitude Solar Aircraft (PHASA-35) in South Australia. Backed by Australia’s Defence Science and Technology Group and UK’s Defence Science and Technology Laboratory, the PHASA-35 has been engineered to stay airborne for up to a year and is touted to be a game-changer in the drone surveillance domain.

Browse Detailed Summary of Research Report with TOC:

Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Industry Developments –Mergers, Acquisitions and Partnerships
    • Latest technological Advancements
    • Porters Five Forces Analysis
    • Supply Chain Analysis
  • Quantitative Insights-Impact of COVID-19 Pandemic on Global Military Drone Market
    • Impact of COVIC-19 Pandemic on the Global Military Drone Market
    • Steps Taken by the Industry/Companies/Government to Overcome the Impact
    • Key Development in the Industry in Response to COVID-19 Impact
  • Global Military Drone Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Product Type
      • Fixed Wing
      • Hybrid
      • Rotary Wing
    • Market Analysis, Insights and Forecast – By Technology
      • Remotely Operated Drones
      • Semi-Autonomous Drones
      • Autonomous Drones
    • Market Analysis, Insights and Forecast – By Range
      • Visual Line Of Sight (VLOS)
      • Extended Visual Line Of Sight (EVLOS)
      • Beyond Line Of Sight (BLOS)
    • Market Analysis, Insights and Forecast – By Application
      • Intelligence, Surveillance Reconnaissance and Targeting (ISRT)
      • Combat Operations
      • Battle Damage Management
      • Logistics & Transportation
      • Others
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia pacific
      • Rest of the world

TOC Continued…!

Get your Customized Research Report:

Have a Look at Related Research Insights:

UAV Market Size, Share & COVID-19 Impact Analysis, By Class (Small UAVs, Tactical UAVs, and Strategic UAVs), By Technology (Remotely Operated, Semi-autonomous, and Fully-autonomous), By System (UAV Airframe, UAV Payloads, UAV Avionics, UAV Propulsion, and UAV Software), By Application (Military, Commercial and Recreational), and Regional Forecast, 2020-2027

LiDAR Drone Market Size, Share and COVID-19 Impact Analysis, by Type (Solid-state LiDAR and Mechanical LiDAR), By Application (Fixed Wing, Multirotor, Helicopter, Hybrid Multirotor), and Regional Forecasts, 2020- 2027

Agriculture Drone Market Size, Share & COVID-19 Impact Analysis, By Type (Fixed Wing, Rotary Wing, and Hybrid), By Components (Hardware [Frames, Control Systems, Propulsion System, Navigation System] and Software [Imaging Software, Data Management Software]), By Application (Field Mapping & Monitoring, Crop Spraying, Crop Scouting, Variable Rate Application, Livestock Monitoring, Others), and Regional Forecast, 2020-2027

Commercial Drone Market Size, Share & COVID-19 Impact Analysis, By Product (Fixed-wing, Rotary Wing and Hybrid Multi-rotor), By Technology (Remotely Operated, Semi-autonomous, and Fully-autonomous), By System (Airframe, Payloads, Avionics, Propulsion, and Software), By Application (Aerial Photography, Agriculture, Disaster Relief & Management, Logistics, Surveillance & Inspection, Remote Sensing & Mapping) and Regional Forecasts, 2020-2027

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune - 411045, Maharashtra, India.


US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Fortune Business Insights™

LinkedIn | Twitter | Blogs

Read Press Release: