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(USGovernment-News.Com, February 12, 2024 ) The Military Drone Market is estimated to be USD 13.0 billion in 2023 and is projected to reach USD 18.2 billion by 2028, at a CAGR of 7.0 % from 2023 to 2028.
Based on Platform, Strategic Segment will hold the largest market share during the forecast period. Strategic drones are further segmented as High-Altitude Long Endurance (HALE) Medium-Altitude Long Endurance (MALE) drones. Strategic drones can fly for extended periods, covering vast distances, providing persistent surveillance and reconnaissance over battlefields, borders, or strategic areas. These drones can be equipped with diverse payloads for various missions, including high-resolution cameras, radar, and electronic intelligence systems detailed for information collection owing to their high payload carrying capacity. This high payload carrying capacity contributes significantly to their dominance in the market.
Based on Application, the Intelligence, Surveillance, Reconnaissance (ISR) segment is projected to hold a larger market share during the forecasted period. ISR provides a comprehensive picture of the operating environment, gathering critical data of enemy troop movements, terrain features, and potential threats, enabling informed decision-making at all levels. ISR provides monitoring vast stretches of borders for illegal activities and intrusions along with assessing damage, coordinating rescue efforts, and providing communication links in required areas.
Based on MTOW, > 1,200 kg segment to have higher market share during the forecast period. These drones, including High-Altitude Long Endurance (HALE), Medium-Altitude Long Endurance (MALE), and some medium-range types. These drones can fly above 5,500 meters and carry advanced radars, communication systems, and electronic warfare equipment. Growing geopolitical tensions and increasing defense budgets in countries like India, China, and the US are fueling the demand for these versatile platforms. Their ability to enhance a nation's defensive and stealth capabilities, along with the growing adoption of combat drones, makes the > 1,200 kg segment a major driver in the military drone market.
Based on Region, North America accounted for the largest market share in 2023. North America, particularly the United States, is home to some of the world's largest and most influential military drone manufacturers, including Boeing and Airbus facilities. The region is a hub for military innovation, research, and development, leading to a high concentration of drone manufacturing activities.
Key Market Players:
Major players operating in the Military Drone Market include Northrop Grumman Corporation (US), Raytheon Technologies Corporation (US), Israel Aerospace Industries Ltd. (Israel), General Atomics Aeronautical Systems (US) and Teledyne FLIR LLC (US). These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America, Europe, and Asia Pacific.
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