Military Drone Market is expected to witness slow but steady growth by 2021

Posted by Nita on January 25th, 2021

Global Military Drone Market – Overview

According to a recent study report published by the Market Research Future, the global market for global military drone will grow at a rapid pace during the forecast period. The market is expected to witness slow but steady growth by 2021, which will be a growing fast at a moderate CAGR during the projected period (2017 -2021).  

Many new global military agencies have adopted drones to protect their borders, enforce law and for combat missions. Moreover, the growing demand for global military drone equipment’s that satisfy the demand for unmanned aerial vehicle (UAV) expansion. The expansion of UAVs is estimated to rise in military drones expenses and as well as it is expected to add to the growth of the market. However, effect of defense budget cut on the procurement of drones, limitation of endurance and flight range, and issues with battery technology of UAVs acts as a barrier to the growth of global military drone market.

The growing investment by venture funding and increase in demand for drone-generated data in commercial application has an impact on the market. Moreover, the factor responsible for the growth of global military drone market is drones in the military application, integration of drone in the current warfare systems to combat or counter threats, and cost-effective as compared to manned aircraft. This is the primary factor that drives the growth of the global military drone market and has gained prevalence in the recent times, with the usage of best in class technologies in aircraft. Thus, the growth of the global military drone market is expected to go hand in hand with the growth of unmanned aerial vehicles in the aircraft industry.

The expansion of the unmanned aerial vehicle, which has resulted in the development of a set of global military drone market. The increased focus of defense on video monitoring, investigation, remote surveillance, border security, protection of infrastructure, thermo graphic inspection, fire fighting and law enforcement, due to which there will be growth in global military drone market. Hence, it is expected that the rapid expansion of UAVs would eventually drive the global military drone market. Moreover, the popularity of various applications in defense, agriculture, media and entertainment and weather forecasting, will drive the growth of Global Military Drone market during the forecast period.

Industry/ Innovation/ Related News:

March, 2018 – AeroVironment Inc. had signed a contract by the U.S. Army to support a military sale of unmanned aerial vehicles to Egypt.

April, 2018 – General Atomics Aeronautical Systems Inc. had signed a contract by the U.S. Air Force to support weaponized unmanned aircraft system for U.K.

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