Comprehensive Military Drones Market Forecast 2023-2032: Growth Rate, Drivers, And Trends

The Military Drones Global Market Report 2023 by The Business Research Company, provides military drone market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Military Drones Global Market Report 2023, the global military drones market size will grow from $14.54 billion in 2022 to $15.88 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global military drones is expected to grow to $20.64 billion in 2027 at a CAGR of 6.8%.

Increasing government funding for military drones to enhance efficiency in military operations boosts the demand for the production of military drones.

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The military drone market is segmented:

1) By Drone Type: MALE, HALE, TUAV, UCAV, SUAV

2) By Type: Fixed-Wing, Rotary Wing, Hybrid

3) By Technology: Remotely Operated, Semi-Autonomous, Autonomous

4) By Application: Search and Rescue, National Defense, Military Excercises, Others

Drone swarm technology is growing in popularity in the military drone market due to its cost efficiency and high firepower. Drone swarms are a large group of small drones that coordinate with each other to perform actions such as a survey of enemy territories, search and rescue, and attacks on hostile objects. Drone swarm technology involves the production of several small, cheap drones rather than one large, expensive drone, therefore offering military drone manufacturers and end-users efficiency in terms of cost and time. With the use of advanced swarm technologies, the military and armed forces can effectively carry out lethal drone strikes in multiple places at once. For instance, Microsystems developed a drone swarming system called the WOLF-PAK, which has the capability to fly small drones in groups and make them split away from the group whenever necessary.

The military drone market report table of contents includes: