Ocean View, DE -- (SBWIRE) -- 04/29/2020 -- Military UAV market share for VLOS operation is estimated to register appreciable CAGR of over 16.4% over 2017-2024. This robust growth rate can be attributed to the increasing demand of the VLOS UAVs in government applications such as firefighting & disaster management application, police operations & law enforcement and traffic monitoring.

Key Players in Military UAV market: - Aerovironment Inc., Airbus Defense & Space SAS, BAE Systems Inc., Bluebird Aero Systems Ltd., Boeing, China Aerospace Science & Technology Corporation, Dassault Aviation SA, Dragonflyer, Elbit Systems Ltd., General Atomic Aeronautical Systems Inc., Israel Aerospace Industries Ltd., Korea Aerospace Industries Ltd., Leonardo, Lockheed Martin, Northrop Grumman Corporation, Raytheon, SAAB AB, Singapore Technologies Aerospace, Textron Systems, VTOL Technologies,

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As specified by the local aviation authorities, the maximum limit for visual line of sight varies from country to country. For instance, the maximum VLOS in Europe is typically set at not more than 400 ft. above ground level vertically & 500 meters horizontally. In Australia, UAV operators are required to maintain a VLOS and fly below 400 ft. above ground level.

Military UAV (Unmanned Aerial Vehicle) market is anticipated to be driven by rise in terrorist activities across the world coupled with growing public & private-led investments in UAV technology. The growing demand of the UAVs for surveillance and combat operations is another major factor fueling military UAV market.

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.

Rising investments by industry players is also estimated to influence military UAV market outlook. For instance, Intel invested USD 60 million in a Chinese drone manufacturer, Yuneec International, in 2015. The firm utilized the investment to promote its Intel Real Sense Technology as well as its processors for drones.

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 UAV market.

In 2016, North America turned out to be a promising revenue ground for the Military UAV market and held a revenue share of more than 70% in the same year.

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The robust growth of the Military UAV 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 UAV market growth over the forecast timespan.

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