Global Loitering Munition Market was valued at USD 0.25 Billion in 2022 and is projected to reach USD 0.70 Billion by 2030, growing at a CAGR of 12.9% from 2024 to 2030.
The loitering munition market has seen remarkable growth in recent years, driven by the increasing demand for precise, targeted strikes in modern warfare. These unmanned aerial vehicles (UAVs), which are designed to hover over a target area for an extended period before striking, have proven to be highly effective in combat zones. With a variety of applications, from surveillance to direct attacks, loitering munitions are becoming a pivotal part of military arsenals globally.
One of the primary factors driving this market is the growing need for advanced technologies in defense systems. The ability to conduct precision strikes without risking human lives is a game changer for military operations. This has led to an increased focus on developing loitering munitions that can stay airborne for longer periods, gather real-time intelligence, and strike with unparalleled accuracy. In fact, according to recent market studies, the global loitering munition market is expected to grow at a compound annual growth rate (CAGR) of over 20% between 2023 and 2030.
The market is also benefiting from advancements in miniaturization and autonomy, allowing these weapons to become more versatile and cost-effective. Governments and defense contractors are investing heavily in developing loitering munitions that can carry a wide range of payloads, including explosive charges, surveillance equipment, and more. This versatility enhances their appeal, especially to smaller defense budgets, enabling even developing nations to integrate these advanced technologies into their military operations.
Another contributing factor is the rising geopolitical tensions around the world. As countries seek to strengthen their military capabilities, loitering munitions provide a strategic advantage. With the increasing use of drone warfare and remote combat technologies, loitering munitions allow for quicker, more precise responses to emerging threats, without risking the lives of soldiers.
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Lockheed Martin Corporation
WB Group
IAI
Uvision
Elbit Systems Ltd.
STM
Avision
Aeronautics Group
Rafael Advanced Defence Systems Ltd.
Loitering Munition
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Loitering Munition Market
Air Force
Naval
Land Force
Based on Types the Market is categorized into Below types that held the largest Loitering Munition market share In 2023.
Fixed Wing
Rotary Wing
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Global, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Loitering Munition Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Loitering Munition Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Loitering Munition Market, By Type
6. Global Loitering Munition Market, By Application
7. Global Loitering Munition Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Loitering Munition Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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