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LONDON, GREATER LONDON, UK, August 19, 2019 /EINPresswire.com/ — The global military drones market was valued at about $12.1 billion in 2018 and is expected to grow to $19.04 billion at a CAGR of 12.0% through 2022.
The military drones market consists of sales of military drones and related services. The military drones are specifically used for military purposes such as border surveillance, battle damage management, combat operations, communication, delivery, and anti-terrorism weaponry. Military drones include tactical drones, MALE (Medium altitude, long endurance) drones, HALE (High altitude, long endurance) drones, TUAV (Tactical unmanned air vehicle) drones, UCAV (Unmanned combat air vehicle) drones, SUAV (Small unmanned air vehicle) drones and others.
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The military drones market has been geographically segmented into North America, Western Europe, APAC, Eastern Europe, South America and Middle East & Africa. The North American market is the largest market for military drones and is expected to continue to be the largest market during the forecast period
Increasing government funding on military drones to enhance efficiency in military operations boosts the demand for the production of military drones. According to the 2018 report published by the Bard College Center for the Study of the Drone, in 2019 U.S. Navy funding for unmanned systems increased by $1 billion (38%) and U.S Army funding increased by $719 million (73%) when compared to the 2018. Furthermore, Department of Defense in U.S requested approximately $9.39 billion for drones and associated technologies in the fiscal year 2019 representing a significant expansion of 26% in drone spending over 2018 budget, $7.5 billion. Hence, the increasing government spending on unmanned drones is driving the military drones market.
The shortage of trained and skilled military drone pilots equates lesser usage hindering the military drone market growth. Military drones are more sophisticated compared to commercial drones and require trained pilots to operate them. Though the current budget supports purchases of military drones, lack of trained professionals could lead to lesser drone utilization. According to an article on The Washington Post published in 2016, the lack of skilled drone pilots caused the US military to cut 8 % of its drone combat missions in 2015. The number of active pilots in the US has declined from over 800,000 in 1980 to barely 600,000 in 2017 and are in need of 637,000 drone pilots.
Major players in the military drones market include Northrop Grumman, Lockheed Martin, Boeing, AeroVironment and General Atomics.
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Military Drones Global Market Report 2019 is one of a series of new reports from The Business Research Company that provides military drones market overviews, analyzes and forecasts military drones market size and growth for the global military drones market, military drones market share, military drones market players, military drones market size, military drones market segments and geographies, military drones market trends, military drones market drivers and military drones market restraints, military drones market’s leading competitors’ revenues, profiles and market shares. The military drones market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Military Drones Global Market Report 2019 from The Business Research Company for information on the following:
Markets Covered: global military drones market
Data Segmentations: military drones market size, global and by country; historic and forecast size, and growth rates for the world, 7 regions and 12 countries
Military Drones Market Organizations Covered: Northrop Grumman, Lockheed Martin, Boeing, AeroVironment and General Atomics.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Time Series: Five years historic (2014-18) and forecast (2018-22).
Other Information And Analyses: PESTEL analysis, military drones market customer information, military drones market product/service analysis – product examples, military drones market trends and opportunities, drivers and restraints, key mergers and acquisitions, key metrics covered: number of enterprises, number of employees, global military drones market in 2019 – countries offering most new opportunities
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Military Drones Industry: The report explains a number of strategies for companies in the military drones market, based on industry trends and company analysis.
Opportunities For Companies In The Military Drones Sector: The report reveals where the global military drones industry will put on most $ sales up to 2022.
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