The global military drone market size is expected to gain momentum by reaching USD 26.12 billion by 2028 while exhibiting a CAGR of 12.78% between 2021 and 2028. Fortune Business Insight, 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), By Technology (Remotely Operated Drones, Semi-Autonomous Drones), By System (Airframe, Avionics, Propulsion, Payload), By Application (ISR and Targeting (ISRT), Combat Operations, Battle Damage Management), and Regional Forecast, 2021-2028.”, mentions that the market stood at USD 10.68 billion in 2020. Factors such as the rising intrusion activities along the borders and the increasing military spending by several countries are likely to propel the demand for the product during the forecast period. For instance, in June 2020, the India-China altercation in the Ladakh region turned ugly, leading several thousands of troops from both sides on a stand-off. Drone technology played a pivotal part as both countries adopted unmanned aerial vehicles for reconnaissance operations in the high altitude region.
The negative effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been at a standstill with limited operational activities. However, a collective effort from the government and the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.
List of Top Companies Profiled in the Global Military Drone Market:
- General Atomics Aeronautical Systems, Inc. (US)
- Northrop Grumman Corporation (US)
- Elbit Systems Ltd. (Israel)
- Israel Aerospace Industries Ltd. (Israel)
- AeroVironment, Inc. (US)
- Lockheed Martin Corporation (US)
- Thales Group (France)
- Boeing (US)
- BAE Systems (UK)
- SAAB Group (Sweden)
- Textron Systems (US)
Browse Detailed Summary of Research Report with TOC:
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