The global military drone market was valued at USD 14.14 billion in 2023 and is expected to expand from USD 16.07 billion in 2024 to USD 47.16 billion by 2032, registering a robust CAGR of 13.15% during the forecast period. In 2023, North America led the market, accounting for a 36.1% share. The U.S. military drone market, in particular, is projected to witness substantial growth, reaching approximately USD 10.71 billion by 2030, fueled by rising R&D investments from key players including Sikorsky, Boeing, and other prominent regional manufacturers.
The U.S. continues to spearhead global military drone developments, awarding significant contracts such as the USD 389 million deal with General Atomics for MQ-1C Gray Eagle drones. Meanwhile, drones are playing a pivotal role in modern warfare, as seen in Ukraine’s use of over 700 kamikaze drones and Russia’s deployment of Shahed-136 drones in high-conflict zones. China and Israel remain dominant exporters, supplying advanced UAVs to allied nations, while the UK boosts tactical drone investments to strengthen ISR capabilities under its military modernization agenda.
This information is provided by Fortune Business Insights™ in its research report, titled “Military Drone Market Size, Share, Forecast and 2024-2032”.
General Atomics Aeronautical Systems, Inc. (U.S.)
Northrop Grumman Corporation (U.S.)
Elbit Systems Ltd. (Israel)
Israel Aerospace Industries Ltd. (Israel)
AeroVironment, Inc. (U.S.)
Lockheed Martin Corporation (U.S.)
Thales Group (France)
Boeing (U.S.)
BAE Systems (U.K.)
SAAB Group (Sweden)
Textron Systems (U.S.)
https://www.fortunebusinessinsights.com/military-drone-market-102181
Fixed Wing Segment to Register Substantial Demand Impelled by Rising Use for Long Distance Operations
Based on product type, the market is segmented into hybrid wing, fixed wing, and rotary wing. Of these, the fixed wing segment is set to dominate the product type segment over the study period. The growth is on account of rising deployment of the product for long-distance missions such as mapping, surveillance, and defense.
EVLOS Segment to have Fastest CAGR Driven by Escalating Adoption in Electronic Warfare
By range, the market is subdivided into Beyond Line of Sight (BLOS), Visual Line of Sight (VLOS), and Extended Visual Line of Sight (EVLOS). The EVLOS segment is expected to register fastest CAGR over the forecast period. The rise is propelled by the soaring product adoption in long-range missions, electronic warfare, and proper battle management.
Remotely Operated UAVs Segment to Record Appreciable Expansion Driven by Surging Adoption
Based on technology, the market is subdivided into semi-autonomous drones, remotely operated drones, and autonomous drones. The remotely operated drones segment is estimated to depict an appreciable surge over the estimated period. The expansion is on account of stringent government requirements for autonomous flying over long distances.
Airframe Segment to Dominate due to Increasing Adoption ofUAVs by the Armed Forces
By system, the market is classified into payload, avionics, airframe, propulsion, software, and others. The airframe segment held the highest market share. The growth is impelled by the growing UAV adoption for a range of operations such as monitoring, surveillance, reconnaissance, and others.
ISRT Segment to Emerge as a Leading Segment Considering Growing Awareness for Strengthening the Defense System
Based on application, the market is segmented into logistics & transportation, Intelligence, Surveillance, Reconnaissance, and Targeting (ISRT), battle damage management, combat operations, and others. The surge is propelled by the growing role of UAVs in the defense sector.
Based on geography, the market is fragmented into Asia Pacific, Europe, North America, and the rest of the world.
The report gives a comprehensive coverage of the major trends augmenting the market share over the forecast period. It further offers an insight into the key factors boosting the global business landscape over the ensuing years. Other aspects in the market comprise an account of merger agreements, acquisitions, and additional initiatives adopted by leading industry participants for strengthening their business positions.
Rising Military Expenditure to Propel Industry Expansion
One of the key factors propelling the military drone market growth is the escalation in military expenditure. The industry expansion is further propelled by the surging procurement of next-generation military drones.
However, the industry expansion could be affected by the high cost of modern systems.
North America to Emerge as Dominant Region Owing to the Presence of OEMs
The North America military drone market share is slated to dominate the global market over the forecast period. The surge is on account of the presence of several OEMs in the region.
The Europe market is poised to exhibit considerable expansion throughout the forecast period. The rise is due to the growing awareness associated with the improvement of military, navy, and air force capabilities.
Major Companies Ink Partnership Agreements to Strengthen Market Foothold
Leading market players are focused on adopting a series of strategic initiatives for strengthening their industry positions. These include merger agreements, collaborations, and the formation of alliances. Additional aspects comprise an increase in research activities and the development of new products.
February 2023 – The Indian Army announced plans to procure 850 indigenous nano drones to support special military operations. These drones will be used primarily for surveillance and counter-terrorism missions.
February 2023 – The U.S. Air Force completed the development of facial recognition technology integrated into UAVs. These autonomous drones are capable of identifying and engaging targets independently. They are intended for use by special operations forces to gather intelligence and support mission-critical activities.