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Military Drone Market to Expand at 14.10% CAGR from 2023 to 2030; Rising Cross-Border Conflicts to Impel Industry Expansion

June 26, 2023 | Aerospace & Defense

The global military drone market size stood at USD 12.55 billion in 2022. The market value is slated to rise from USD 14.14 billion in 2023 to USD 35.60 billion by 2030 at a CAGR of 14.10% during 2023-2030. The industry expansion is propelled by the rising investment in autonomous and artificial intelligence-based systems for the modernization of military drone technologies.


Fortune Business Insights™ presents this information in its report titled Military Drone Market Size, Share & Russia-Ukraine War 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 System (Airframe, Avionics, Propulsion, Payload, Software, and Others), By Application (Intelligence, Surveillance Reconnaissance and Targeting (ISRT), Combat Operations, Battle Damage Management, Logistics & Transportation, and Others), and Regional Forecast, 2023-2030”.


High Product Adoption in the Russia-Ukraine War Impelled Industry Expansion


The Russia-Ukraine war saw the adoption of drones for an array of military operations. Some of these included ISR (intelligence, surveillance, and reconnaissance), and target acquisition support. Besides, the involved countries also inked various agreements for drone procurement, propelling industry growth.


Varun Drone Maker and Australian Navy in Talks for USD 5 Million Contract


In March 2023, an Indian firm was in talks with the Australian Navy regarding the supply of its products. These also constitute the ‘Varuna’ drone. The firm is negotiating the project through its local partner for the sale of the Made-in-India drones. These drones were also ordered by the Indian Navy for deployment on large ships.


Escalation in Market Value Owing to Growing Cross-Border Conflicts


The military drone market growth is being impelled by the escalating number of border disputes over land control and ownership. Several countries have enhanced their military spending for the procurement of real-time surveillance drones for increasing situation awareness.


However, the high cost associated with the high-quality hardware systems may hamper market expansion to a considerable extent.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/military-drone-market-102181


Prominent Companies Enter into Collaborative Deals to Expand Product Reach


Leading market participants are focused on adopting a range of strategic initiatives for the expansion of their product reach. Some of these include partnerships, collaborations, and the rollout of new solutions. Other initiatives comprise an escalation in research activities.


Key Players Profiled:



  • General Atomics Aeronautical Systems, Inc. (U.S.)

  • Northrop Grumman Corporation (U.S.)

  • Elbit Systems Ltd. (Israel)

  • Israel Aerospace Industries Ltd. (Israel)

  • AeroVironment, Inc. (U.S.)

  • Lockheed Martin Corporation (U.S.)

  • Thales Group (France)

  • Boeing (U.S.)

  • BAE Systems (U.K.)

  • SAAB Group (Sweden)

  • Textron Systems (U.S.)


Notable Industry Development



  • July 2022 – Baykar secured a USD 370 million contract from the Kuwait Defense Ministry. The contract was centered on supplying armed Bayraktar TB2 drones.


Further Report Findings



  • The presence of OEMs in the region is expected to augment the North America military drone market share. The region is poised to depict considerable upsurge over the forecast period.

  • The Asia Pacific market is estimated to expand at a substantial pace throughout the projected period. The growth is being propelled by the increasing procurement of military drones in the region.

  • By product type, the market is fragmented into fixed wing, hybrid, and rotary wing. The fixed wing segment is touted to register considerable expansion over the study period.

  • On the basis of technology, the market is segmented into remotely operated drones, autonomous drones, and semi-autonomous drones. The remotely operated drones segment is projected to grow at an appreciable pace over the study period.

  • Based on system, the market is categorized into payload, airframe, avionics, software, propulsion, and others. Of these, the propulsion segment is set to depict substantial growth throughout the estimated period.


Table of Segmentation

























































  ATTRIBUTE



  DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 14.10% from 2023 to 2030



Unit



Value (USD Billion)



Segmentation



By Product Type



  • Fixed Wing

  • Hybrid

  • Rotary Wing



By Technology



  • Remotely Operated Drones

  • Semi-Autonomous Drones

  • Autonomous Drones



By Range



  • Visual Line of Sight (VLOS)

  • Extended Visual Line of Sight (EVLOS)

  • Beyond Line Of Sight (BLOS)



By System



  • Airframe

  • Avionics

  • Propulsion

    • Electric Propulsion Engine

    • Turboprop Engine

    • Turboshaft Engine



  • Payload

    • Cameras

    • CBRN Sensors

    • EOIR Payload

    • Radar

    • LiDAR

    • Others



  • Software

  • Others



By Application



  • Intelligence, Surveillance, Reconnaissance, and Targeting (ISRT)

  • Combat Operations

  • Battle Damage Management

  • Logistics & Transportation

  • Others



By Geography



  • North America (Product Type, Technology, Range, System, Application, Country)

    • U.S. (By Application)

    • Canada (By Application)



  • Europe (Product Type, Technology, Range, System, Application, Country)

    • U.K. (By Application)

    • Germany (By Application)

    • France (By Application)

    • Italy (By Application)

    • Spain (By Application)

    • Russia (By Application)

    • Rest of Europe (By Application)



  • Asia Pacific (Product Type, Technology, Range, System, Application, Country)

    • Japan (By Application)

    • China (By Application)

    • India (By Application)

    • Australia (By Application)

    • Southeast Asia (By Application)

    • Rest of Asia Pacific (By Application)



  • Rest of the World (Product Type, Technology, Range, System, Application, Country)

    • Latin America (By Application)

    • Middle East & Africa (By Application)




Military Drone Market
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  • 2019-2021
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