Military Surveillance Drones Market – Key Players, Segmentation and Forecast By 2023
The global Military surveillance drones market size is projected to grow from USD 2083.0 Million in 2016 to USD 4549.4 Million in the year 2023, at the CAGR of 11.96 %.
The demand for such unmanned systems has been fuelled by their successful deployment, during combat missions, majorly in countries such as Iraq and Afghanistan. In recent years, there has been a rise in the number of global conflicts such as the Russia and Ukraine conflict over Crimea, battle for supremacy in the South China Sea territory between China and South Korea, maritime disputes between Venezuela and Guyana, and the sea border dispute between Colombia and Nicaragua. This creates the need to up-date border surveillance systems and the treatment of operational information concerning threats
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However, the growth of this market will be hampered owing to factors such as Issues Associated with Data Processing, prone to Cyber Attacks and Low Endurance and Flight Range.
Of all types, the fixed wing segment is projected to account for the largest market share. Fixed-wing drones are equipped with wings (rather than vertical lift rotors), which are similar to the normal airplanes, and are much efficient as compared to other type of drones. These drones are controlled by the control surfaces that are integrated in the wing (such as ailerons, elevator, and rudder). These drones are able to cover longer distances, map much larger areas, and are suitable for long-duration monitoring of their point of interest. These also provide various advantages such as long endurance, large area coverage, and faster flight speed. As a result, they are widely adopted for surveillance missions.
The global military surveillance drones’ market is predicted to garner USD 4549.4 million, grabbing a CAGR of 11.96 % during the forecast period (2016-2023) owing to the augmenting internal and external security threats, asserts Market Research Future (MRFR). Drones are the next-generation aerial platforms which are deployed by the defense ministries globally.
The prominent players operating the global military surveillance drones’ market are Airbus Corporation (Netherlands), Lockheed Martin (U.S.), Boeing (U.S.), Israel Aerospace Industries Ltd. (Israel), AeroVironment Inc. (U.S.), Saab Group (Sweden), General Atomics (U.S.), Thales Group (France), Elbit Systems Ltd (Israel), and Northrop Grumman
Geographically, the military surveillance drones’ market span across regions Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
Among all the regions, the North America region is likely to dominate the market and is estimated to retain its dominance throughout the appraisal period. The growth can be credited to the augmenting applications of the unmanned aerial vehicles in the homeland security, military sector, and commercial areas. North America is also presumed to lead the global market in terms of technological advancements and expenditure and, and owes a large number of deployments of UAVs in the vulnerable regions. In this region, the US generates high demand for the surveillance drones.
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