Categories: Aerospace & Defence

Autonomous Military Weapons Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Autonomous Military Weapons Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Autonomous Military Weapons Global Market Report 2024, The autonomous military weapons market size has grown rapidly in recent years. It will grow from $14.68 billion in 2023 to $16.21 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to past conflicts & military strategies, r&d investments over time, regulatory milestones, past budget allocations, successes and failures.

The autonomous military weapons market size is expected to see rapid growth in the next few years. It will grow to $24.07 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to adoption by non-state actors, supply chain dynamics, public opinion & advocacy, geopolitical shifts, industry competition & innovation. Major trends in the forecast period include public perception and acceptance, collaboration and alliances, geopolitical tensions, ethical concerns, cost efficiency.

The ability to perform dangerous tasks with precision has contributed to the growth of the autonomous military weapons market. Autonomy in weapons enables us to keep army personnel away from dangerous tasks or any imminent risk to human life. Besides this, increased reaction speed in decision making and eyes on the target will potentially increase accuracy. It has access to a larger amount of information, greater accuracy, and greater predictability for certain functions, freeing humans from dull or repetitive tasks and permitting access to environments that are inaccessible to remote control technologies. Major countries such as the USA, China, and Russia are significantly investing in artificial intelligence (AI) for weapons and are competing for superiority in this segment. For instance, Russia is investing $719 million until 2021 in AI research and development for weapons. The ability to hit the target without human involvement, along with minimizing risk to human life, increased the demand for the growth of the autonomous military weapons market.

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The autonomous military weapons market covered in this report is segmented –

1) By Type: Autonomous, Semi-autonomous

2) By Product: Missiles, Rockets, Guided Bombs, Target Pods, Others

3) By Platform: Land, Airborne, Naval

Major companies operating in the autonomous military weapons market are focusing on developing innovative products, such as unmanned ground vehicles (UGV), to provide reliable services to customers. Unmanned ground vehicles, or UGVs, are vehicles that run on the ground without a human operator present. For instance, in September 2021, MSI Defence Systems Ltd., a UK-based manufacturer of defense and space systems, partnered with Milrem Robotics, an Estonia-based manufacturer of robotic vehicles, launched THeMIS, a highly mobile, unmanned kinetic C-UAV. It integrates with the Remote Weapon Systems (RWS) and Electrical Optical Sensor Systems from MSI-DSL. With these two products, the firms are providing a revolutionary solution for fighting mini-UAVs, loitering munitions, and other small, hard-to-spot aerial targets. The Northrop Grumman M230 gun and Thales LMM missiles are among the payloads it can transport, ranging in size from 7.62 to 30 inches.

The autonomous military weapons market report table of contents includes: