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Military drones are aerial vehicles that can be remotely piloted. They play a crucial role in the defense sector and are used in several applications such as mapping, border management, surveillance, target acquisition, etc. Military drones are experiencing advancements in technology, and global economies are increasing their defense expenditures for equipping their military with advanced weapons and equipment. Increasing instances of threats and violence amongst nations are fueling the adoption of military drones.
Drones offer numerous advantages. To begin with, drones increase manpower and act as force multipliers for security and safety. They also speed up transportation by up to 50% in comparison to regular vehicle road transportation. Additionally, the integration of artificial intelligence is enhancing precision and persistence and modernizing the drone industry. As per Fortune Business Insights™, the global market size for military drones is projected to reach USD 23.78 billion by 2027.
COVID-19 Pandemic- Delayed Projects & Sluggish Growth Evident During the Pandemic
The coronavirus pandemic has inflicted a long-term and strenuous impact on global economies. Military drone’s production and manufacturing levels got hindered due to severe lockdowns. Delayed projects and delayed deliveries due to lockdowns across several countries also negatively impacted the operations of key players in the sector. However, a few businesses continued to grow amidst the unprecedented crisis heaved by the pandemic.
Based in Falls Church, Virginia, USA, it is a leader in autonomous systems, including unmanned aerial vehicles, and produces UAVs for military applications such as real-time intelligence, surveillance, and reconnaissance.
With its headquarters in Poway, California, USA, General Atomics Aeronautical Systems, Inc. is a leading manufacturer of remotely piloted aircraft systems, unmanned aircraft, and sensor systems.
The Boeing Company is one of the leading manufacturers of autonomous systems for air, water, and land application. The company also manufactures unmanned aircraft systems for military operations. The company emphasizes the development of modern technology, strategic agreements, and contracts to endure its position in the market.
With its headquarters based in Haifa, Israel, Elbit Systems Ltd. provides a wide range of unmanned aerial systems, the Israel Defense Forces (IDF) UAS Force is the company’s most prominent customer. The company has continuously been developing innovative UAS solutions and is likely to create growth opportunities in the forthcoming years.
Israel Aerospace Industries Ltd. (IAI) offers unmanned aerial systems for gathering intelligence, border surveys, and target missions. The company possesses five tactical medium-range surveillance UAS: Tactical Heron, Searcher Mk II, BirdEye 650D, BirdEye 650, and Hovermast 100.
It is a major unmanned aircraft solution provider for tactical intelligence, surveillance, and reconnaissance (ISR) operations. The company possesses a wide range of UAS products and continuously focuses on developing groundbreaking UAS technologies.
The company offers unmanned systems for commercial and military applications. The company also provides fixed-wing and rotary-wing UAVs for ISR operations. Essentially a security and aerospace company, a huge portion of Lockheed Martin's business is with the U.S. federal government agencies and the U.S. Department of Defense.
Thales offers UAS systems for military surveillance and monitoring operations. The company has delivered Europe’s largest UAV program and is leading the development of future UAS capabilities. The company focuses on agreements, partnerships, contracts, and acquisitions to lead the market position.
A leading manufacturer of UAS in the U.K., the company concentrates on designing and developing next-generation UAS technologies.
Headquartered in Stockholm, Sweden, Saab Group’s UAV program possesses application capabilities across military, defense, maritime, and civil security sectors. The company recently formed a joint venture with UMS Aero Group AG named UMS SKELDAR.