Pune, India -- (SBWIRE) -- 07/13/2018 -- Automated Weapon System Market Scenario
Automated weapon systems are specifically designed to engage with military targets without any human intervention. There has been a growing demand for drones over the years due to the modernization of warfare. Features of drones or unmanned aircraft systems inlcude their small sizes and cost-effective design. They are embedded with various systems to provide secure, reliable, and modernized digital communication. Moreover, these weapon systems are developed to provide intelligence, surveillance, and reconnaissance (ISR) to military operations. The emergence of drones or unmanned aircraft systems is expected to improve the effectiveness and accuracy of automated weapon system. However, there are some issues in the market, such as the performance deterioration of automated weapon system due to the cluttered operating environments. It also poses a threat to civilian lives.
Global Automated Weapon System Market is estimated to witness approximately 5% CAGR from 2018 to 2023.
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Moreover, automated weapon systems are highly used in the naval platform. In 2016, Saab AB acquired Denmark's Nordic Defense Industries (NDI) to develop its position in the unmanned underwater domain. Similarly, in 2016, Thales Group signed a contract with the U.K Royal Navy to demonstrate unmanned warrior capabilities in three categories: intelligence surveillance target acquisition, reconnaissance, and mine countermeasure. In 2013, Google X acquired Boston Dynamics so as to enhance their drone manufacturing capabilities. However, in 2017, Boston Dynamics was later sold to Softbank.. Furthermore, Google launched its ambitious AI program, which is known as Project Maven, to build military drones for the U.S. Military Forces, which would help in distinguishing spot targets.
The factors responsible for the growth of the global automated weapon system market are the continuous upgrades in existing combat platforms and the emergence of artificial intelligence and big data in weapon systems. The significant technological developments in the system have resulted in reduced operational costs due to lower dependence on workforce to operate the weapon. For instance, in the year 2010, General Dynamics signed an agreement with the U.S. Army Research Laboratory to develop autonomous unmanned air and ground systems. Similarly, Northrop Grumman signed a contract with the U.S. Department of Defense to develop Gray Wolf semi-autonomous cruise missiles in the year 2017.
Key Players
The key players in the global Automated Weapon System Market are Northrop Grumman Corporation (U.S.), Lockheed Martin Corporation (U.S.), Israel Aerospace Industries Ltd. (Israel), Boston Dynamics (U.S.), Aerovironment, Inc. (U.S.), BAE Systems, Inc. (U.K), Turkish Aerospace Industries, Inc. (Turkey), General Dynamics Corporation (U.S.), Saab AB (Sweden), and Thales Group (France).
Global Automated Weapon System Market, By Segmentation
The automated weapon system market is segmented on the basis of type, platform, payload, and region. On the basis of type, combat drone is widely used and is expected to account for the largest market share due to increased investments on the unmanned aerial vehicle front. On the basis of application, airborne segment is expected to witness the highest CAGR during the forecast period due to the emergence of combat and target drones. On the basis of platform, the semi-autonomous automated weapon system is expected to witness the highest CAGR due to increasing interference by humans to control and monitor the weapon system.
The market is segmented on the basis of region into North America, Asia Pacific, Europe, the Middle East & Africa, and South America. North America is expected to dominate the market due to rise in investments in sentry guns and radar guided missiles. Asia Pacific follows the North American region, in terms of market share, due to rise in border threats in the region, coupled with the growing military expenses by China, India, South Korea, and Japan. Thus, the global market is estimated to witness approximately 5% CAGR from 2018 to 2023.
The report for Global Automated Weapon System Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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