Military Drone Market

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Fortune Business Insights published the above
information in a recent report, titled, Global
Military Drone Market Size, Share Industry
Analysis, By Type (Fixed- Wing, Rotary-Wing, and
Hybrid/Transitional), By Range (VLOS, EVLOS, and
BLOS), By Propulsion Type (Battery Powered, Fuel
Cell, and Hybrid Cell), By Technology (Remotely
Operated Drone, Semi-Autonomous Drone, and
Autonomous drone), By Application (ISRT, Delivery
and Transportation, Combat Operations, Battle
Damage Management and Others) and Regional
Forecast, 2019-2026. As per the report, the
military drone market size is projected to reach
USD 21.76 billion by 2026, at a CAGR of 12.4
during the forecast period. However, it stood at
USD 7.93 billion in 2018. The global military
drone market size is set to gain traction from
their increasing demand from the defense sector
as they possess high surveillance capability.
Besides, these drones are nowadays equipped with
several state-of-the-art technologies, namely,
cloud computing-based services, multi-sensor
data fusion for UAV navigation, and artificial
intelligence (AI). It would affect the market
positively in the coming years. Increasing
Border Disputes in Developing Nations to Propel
Growth Armed forces worldwide are mainly
focusing on bolstering their defense domain owing
to increasing transnational security threats, as
well as border security issues. This, in turn,
is upsurging the expenditure on defense in the
developing economies. The countries in Asia
Pacific, for instance, are at present going
through several border disputes. China is
focusing on enhancing its defense sector with the
help of government support. The government of
China spent USD 177.61 billion on improving
combat capabilities and developing
infrastructure for the armed forces. These
factors are anticipated to propel the military
UAV market growth in the coming years.

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• Fortune Business Insights profiles list of all
  the reputed organizations present in the
  military drone market. They are as follows
• Thales
• Boeing
• Leonardo S.P.A.
• Aeronautics
• General Atomics
• Saab
• Lockheed Martin
• Textron
• Lockheed Martin
• Israel Aerospace Industries
• Raytheon
• Aerovironment
• China Aerospace Science and Technology
  Corporation
• Elbit Systems

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• 102181
• North America to Dominate Backed by Rising
  Research Development Activities
• In terms of region, the market is segregated into
  Latin America, the Middle East and Africa,
  Europe, North America, and Asia Pacific. Out of
  these, North America is considered to house the
  largest market and is expected to lead in terms
  of military drone/unmanned aerial vehicle (UAV)
  market revenue during the forthcoming years. The
  region held USD 4.67 billion share in 2018. This
  growth is attributable to increasing research
  and development activities to develop new drones.
  Apart from that, joint ventures by industry
  giants, as well as rising investments in
  developing technologically advanced drones for
  supporting numerous military applications, would
  accelerate growth in this region. In addition to
  that, countries, such as Canada and the U.S. are
  adopting military drones for maritime and border
  surveillance.
• Asia Pacific, on the other hand, is expected to
  showcase the highest CAGR owing to the upsurging
  demand for military drones in countries, namely,
  Japan, India, and China. AeroVironment, Inc., a
  defense contractor based in California, teamed up
  with the government of India to produce Raven, a
  unique hand-launched drone. The Middle East
  Africa would experience considerable growth as
  Israel is one of the largest exporters of drones
  for military use. The deployment of UAVs and
  their sub-systems are also increasing in Turkey.
• Key Players Focus on Gaining Contracts to
  Strengthen Position in Market
• The market consists of numerous big, small, and
  medium enterprises that are striving
  persistently to gain the maximum military
  unmanned aerial vehicle market share during the
  forecast period. For that, they are signing new
  contracts and agreements with the other renowned
  military UAV companies. Below are a couple of the
  latest key industry developments
• December 2019 Northrop Grumman, an aerospace and
  defense technology company headquartered in
  Virginia, received a contract worth USD 251.5
  million from the U.S. Navy to deliver four MQ-4C
  Triton drones. This modification procures three
  low rate initial production lot 4 MQ-4C Triton
  unmanned aircraft, tooling, trade studies,
  ground stations, and other related support
  equipment. The MQ-4C Triton is a long-endurance,
  high altitude drone that is created under the
  Broad Area Maritime Surveillance (BAMS) program.
• August 2019 AeroVironment, Inc. bagged a
  contract worth USD 45 million from
• the U.S. Army for RQ-11B Raven small unmanned
  aircraft systems (UAS). Raven is one of the most
  widely utilized small UAS in the U.S. Armys
  fleet. It is a fully hand-launched and
  man-portable small UAS specially designed for
  land-based operations.
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