Military Drone Market Projected to reach $18.2 billion by 2028

The military drone market is anticipated to experience substantial growth, increasing from USD 13.0 billion in 2023 to USD 18.2 billion by 2028 with CAGR 7.0%. This growth is driven by increased investments in advanced military solutions to enhance defense forces' capabilities. The rise in piracy and territorial encroachments in regions like Central Asia, South America, East Africa, the Indian subcontinent, Southeast Asia, and West Africa has led to heightened maritime patrolling and anti-piracy operations. As a result, there is a growing reliance on Unmanned Aerial Vehicles (UAVs) for maritime patrolling and identifying potential hotspots.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=221577711

Based on propulsion, the battery segment is anticipated to record the highest growth rate during the forecast period.
Based on propulsion, The military drone market has been categorized into turbo engines, piston engines, and battery-powered drones. The battery segment encompasses military drones utilizing lithium-ion batteries, fuel cells, and hybrid cells. During the forecast period, the battery segment is expected to exhibit the highest growth rate at 16.2%, driven by the adoption of batteries in many short-range and medium-range drones, in addition to small drones. High endurance tactical and strategic drones are typically powered by turbo engines, specifically gas-powered turbojet and turbofan engines. Meanwhile, piston engines find application in many small military drones designed for low-power and low-speed operations. Battery or electrically powered military drones leverage batteries for energy storage, powering electric motors.

Based on speed, the subsonic segment is estimated to register large share in the base year.

Based on speed, The military drone market is divided into subsonic and supersonic segments. Within the subsonic category, further subdivisions include drones with speeds of < 100 Km/hr, 100-300 Km/hr, and > 300 Km/hr. Currently, the subsonic segment dominates the market, reflecting the prevalence of military drones operating at conventional subsonic speeds. Subsonic drones, characterized by speeds ranging from standstill to slightly below the speed of sound (Mach 0.8), contributed significantly to the market share in 2023. This growth is driven by an increased demand for highly autonomous drones operating at high subsonic speeds.

The Asia Pacific region is projected to be high growth potential markets for the military drone during the forecast period.

The Asia Pacific region stands out as a global leader in technology and innovation, showcasing the fastest-growing technology companies in terms of percentage revenue growth over three years. Notably, countries such as China, Malaysia, South Korea, and India are making substantial investments in the development of military drone projects. India frequently procures military solutions from North America and Europe. China, recognized for its advanced technology and efficient manufacturing capabilities, plays a significant role in the drone industry. Key Chinese companies engaged in the manufacturing of military drones, payloads, and drone components include Autel Robotics, China Academy of Aerospace Aerodynamics, Chengdu Rainpoo Technology Co., Ltd., Aviation Industry Corporation of China (AVIC), and China Aerospace Science and Technology Corporation.

Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=221577711

The Major Players includes Northrop Grumman Corporation (US), Raytheon Technologies Corporation (US), Israel Aerospace Industries Ltd. (Israel), General Atomics Aeronautical Systems (GA-ASI) (US), and Teledyne FLIR LLC (US).

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.