Military Drone Market Analysis By Applications, Regions and Forecast To 2024

By Ronak Bora

As per estimates, global military drone market size is projected to surpass the fleet of 18 thousand units, accounting for revenue generation of more than 13 billion by 2024.In order to boost safety and security systems of the nations, governments across the countries are increasingly procuring drones.
Military drones or UAV systems are complex, and AI and machine learning are utilized to study and understand the data provided from them to deliver quick analysis and insights. Rapid adoption of AI and machine learning algorithms has been witnessed over the past years for enhancing the capabilities of drones, which enables defense organizations in performing high-level investigation activities.
 
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Defense application segment is estimated to register notable CAGR of more than 10% over 2017-2024. Such robust growth rate can be attributed to growing adoption of advanced UAVs or drones for gathering military intelligence.
By 2024, the intelligence, surveillance and reconnaissance military UAV segment will dominate the overall market share. UAVs offer real-time battlefield tracking of ongoing activities as well as enemy positions and are particularly designed for such operations. Increasing military budgets across the world for safety and security purposes is estimated to offer expansive growth potential for military drone market.
In 2016, North America turned out to be a promising revenue ground for the military drone market and held a revenue share of more than 70% in the same year.
The robust growth of the market can be attributed to rise in adoption of UAVs in the United States for military & government application purposes. For instance, the U.S FBI (Federal Bureau of Investigation) and the Department of Homeland Security is utilizing UAVs for police investigation and law enforcement. These organizations are also planning to use UAVs for firefighting and disaster management application, hence offering a feasible ground for military drone market growth over the forecast timespan.
The Prominent Players present in the market are Lockheed Martin, Boeing, BAE Systems, Inc., Northrop Grumman, Israel Aerospace Industries Ltd., Aerovironment, Inc., China Aerospace
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Table of Content
Chapter 4.   Military drones Competitive Landscape
4.1.  Introduction
4.2.  Market leaders, 2016
4.2.1. General Atomic Systems
 
4.2.2. Lockheed Martin
4.2.3. Northrop Grumman
4.2.4. Boeing
4.2.5. China Aerospace
4.2.6. Aerovironment
4.3.  Innovation leaders, 2016
4.3.1. Elbit Systems
4.3.2. Israel Aerospace Industries
4.3.3. Leonardo
4.3.4. VTOL Technologies
4.4.  Other prominent vendors
Chapter 5.   Global Military Drone Market, By Product
5.1.  Global military drone market, by product, 2013 & 2024
5.2.  Fixed wing drone     
5.2.1. Market estimates and forecast, 2013 - 2024
5.2.2. Market estimates and forecast, by region, 2015 – 2024
5.3.  Rotary blade drone
5.3.1. Market estimates and forecast, 2013 - 2024
5.3.2. Market estimates and forecast, by region, 2013 - 2024
5.4.  Hybrid drone
5.4.1. Market estimates and forecast, 2013 - 2024
5.4.2. Market estimates and forecast, by region, 2013 – 2024
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About Author

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport....

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