Loitering Munition Market Size Worth USD 4.10 Billion 2032 | Emergen Research

The global loitering munition market size was USD 1.09 Billion in 2022 and is expected to register a revenue CAGR of 14.2% during the forecast period, according to the latest analysis by Emergen Research. Rising demand for advanced military warfare systems, rising demand for precise, efficient, and cost-effective military capabilities, increase in military friendly fire incidents, and rise in geopolitical tensions and conflicts are some of the major factors driving the market revenue growth.

Loitering munitions are low-cost guided precision munitions that are flown in a holding pattern for a lengthy period of time and quickly attack land or sea targets away from the user's line of sight. At a relatively modest cost, these unmanned aerial vehicles carrying a warhead are increasingly used to target things such as tanks, military hardware, and soldiers. This invention is quickly transforming the battlefield and making ready-made air power available to non-state actors and nations with little financial resources. Modern warfare has seen an increase in the use of loitering weapons, often known as kamikaze drones, particularly in conflicts including the one in the Ukraine where they have been successfully used to destroy military hardware and other targets., which is driving revenue growth of the market.

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One of the major challenges restraining revenue growth of the market is concerns regarding surrounding false alarm rates and inaccuracy. The use of loitering munitions in a safe and effective manner on the battlefield is fraught with difficulties. First off, a suicidal flying weapon without human control raises questions about accountability in relation to International Humanitarian Law (IHL) and rules of armed conflict. These weapons will provide significant security and accountability challenges, particularly in the hands of aggressive non-state actors

The report also discusses the key players involved in the market such as: AeroVironment, Inc, WB GROUP., Elbit Systems Ltd., AEROSPACE CH UAV CO., LTD., Anduril Industries, KWESST., UVision, ISRAEL AEROSPACE INDUSTRIES LTD, ZALA Aero Group, and Rheinmetall AG.

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Some Key Highlights From the Report

• The autonomous identification and positioning loitering munition accounted for largest revenue share in 2022. Autonomous loitering munitions are missiles that can remain in the air for a while before locating a target and attacking it. These weapons are a test-bed for utilizing weapons on a battlefield without human control as they increasingly combine autonomous capabilities. Many kamikaze drones have ability to independently return to the launch position for reuse, which reduces costs.

• The land segment is expected to register a steady revenue CAGR during the forecast period. Land combat-proven loitering munition offers an operational answer for a variety of low and high-intensity conflict scenarios, as well as anti-terrorism action, and is specifically built for ground forces operating in difficult conditions.

• On 16 May 2023, The Hellenic Defence System (EAS) and Paramount Industries Greece have created a strategic cooperation to coproduce the IRIX loitering munition. As part of the agreement, innovative long-range loitering munitions will be produced in Greece for both domestic use and future export to foreign markets. The partnership will also make it possible to pass IRIX manufacturing expertise to EAS and promote their participation in R&D for upcoming system updates, improving defense capabilities and generating employment.

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Emergen Research has segmented global loitering munition market on the basis of type, type of encryption algorithm, platform, end-use, and region:

• Type Outlook (Revenue, USD Billion; 2019-2032)

o Autonomous Identification and Positioning Loitering Munition System
o Manual Positioning Loitering Munition System
• Range Outlook (Revenue, USD Billion; 2019-2032)
o Short-Range
o Medium-Range
o Long-Range

• Platform Outlook (Revenue, USD Billion; 2019-2032)
o Land/Ground
o Air
o Naval

• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of MEA

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