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Military Drone/UAV Market to Witness 12% CAGR Till 2024 : Boeing, Aerovironment, Dragonflyer, Leonardo, Raytheon and 15 Other Companies Profiled

Military Drone/UAV Market, By Product, Technology, Range, Maximum Take-Off Weight, Application and Region-Forecasts, 2024


Sellbyville, DE -- (SBWIRE) -- 02/13/2019 -- Military Drone/UAV market is driven by the increasing procurement of UAVs for combat operations and surveillance purposes by the government across the countries. The increasing internal and external threats are encouraging the government to adopt the drone technology for gathering intelligence related to the developments on the battlefield, assessing battle damages, and performing high-level reconnaissance activities. Furthermore, the increasing utilization of UAVs for administrative functions such as traffic monitoring and police investigations along with emergency response services that include firefighting and disaster management also foster the market growth.

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Military Drone/UAV Market is estimated to surpass the fleet size of 18 thousand units with the revenue of over 13 billion by 2024. The increasing demand of the UAVs for combat and surveillance operations is the primary factor driving the market growth. The government across the countries are increasingly procuring the drones for enhancing their armed forces and safety and security.

The military drone/UAV market adoption for border patrolling applications is gaining momentum due to their capability to effectively monitor borders without serious collateral damages and ensuring the safety of the border security personnel. In September 2017, the U.S. Customs and Border Protection Agency began testing small drones for border surveillance in operational sectors in Arizona, Texas, and Vermont. The drones were evaluated for their capabilities for intelligence, reconnaissance, surveillance, tracking, and acquisition in regions that are at a high risk for ground personnel and manned aircraft.

Military drone/UAV market size of the drone used for VLOS operation are estimated to grow with the CAGR of 16.4% during the forecast period. The growth of the market is attributed to the demand of the VLOS drone in government applications such as traffic monitoring, police operations & law enforcement, and firefighting & disaster management application. The maximum limit for VLOS is different in countries as specified by the local aviation authorities.

The demand from government applications, especially for traffic monitoring and police operation & law enforcement is driving the military dron/UAV market. The traffic departments around the world have started testing and deploying drones to monitor and manage urban traffic systems. For instance, in December 2017, the police department in Dubai launched drones to monitor the traffic on the roads. These drones use 4G technology and are controlled by officers from the Dubai Command Room.

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Asia Pacific military drone/UAV market is anticipated to grow at a CAGR of 17% during the forecast period. The growth of the market is attributed to the growing demand for the drones from the developing economies including India and China. China accounts for more than 50% share in the Asia Pacific market, driven by the increasing investments by the Chinese government for the procurement of the drones. The government is focusing on enhancing the domestic production of drones to reduce the imports from the U.S.

North America is the leading region in the military drone/UAV market with the revenue share of over 70% in the year 2016. The growth of the market is attributed to the increasing adoption of the drone in the U.S. for the military and government application.

The global military drone/UAV market is characterized by the presence of both major market players with diverse product portfolios and start-ups that provide niche products, solutions, and services. The major vendors in the military drone market are Aerovironment, Inc., BAE Systems, Inc., Boeing, China Aerospace, General Atomic, Israel Aerospace Industries Ltd., Northrop Grumman, Leonardo, Lockheed Martin, and Textron Systems.

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