Military Drone Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Product Type (Fixed Wing, Rotary Wing, Hybrid), By Technology (Remotely Operated Drones, Semi-Autonomous Drone, Autonomous Drone), By Altitude (HALE, MALE, LALE), By Range (Visual Line of Sight (VLOS), Extended Visual Line of Sight (EVLOS), Beyond Line of Sight (BLOS)), By Weight (Below 5
The military drone market has been growing rapidly due to increasing defense budgets, technological advancements, and the rising demand for unmanned systems in modern warfare. Below is an overview of the market size, trends, and key drivers as of recent data
Military Drone Market Size (2023 and Beyond)
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2023The size of the global military drone market was approximated to be 12billionto12billionto14 billion.
Growth ProjectionThe market is projected to grow at a Compound Annual Growth Rate (CAGR) of 10% to 15% between 2023 and 2030.
2030 ProjectionThe market is projected to be 25billionto25billionto30 billion by 2030.
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Increased Demand for Unmanned Aerial Vehicles Drives the Market Demand
unmanned aerial vehicles
Growing Military Spending Propels the Market Demand
Nations have stepped up their expenditure on the acquisition of advanced technologies, Automatic and hardware. According to the Stockholm International Peace Research Institute (SIPRI) report, defense spending was $2113 billion in 2021, and the largest defense spenders were the United States, China, India, the United Kingdom, and Russia. The growing defense spending is anticipated to enhance the global military drone market share over the next five years.
Market Segmentation
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By Type
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Fixed-Wing DronesDominant segment due to their long-range and endurance capabilities.
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Rotary-Wing DronesUsed for short-range missions and vertical takeoff/landing.
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Hybrid DronesCombining features of fixed-wing and rotary-wing drones.
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By Application
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By Range
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Short-Range Drones
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Medium-Range Drones
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Long-Range Drones
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By Region
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North AmericaLargest market due to high defense spending and technological leadership (U.S. is the top contributor).
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EuropeSignificant growth driven by NATO countries' modernization programs.
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Asia-PacificFastest-growing region due to rising defense budgets in China, India, and South Korea.
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Middle East & AfricaIncreasing adoption of drones for counter-terrorism and border security.
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Latin AmericaSteady growth due to modernization efforts.
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Key Players
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Major Companies
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General Atomics (U.S.)
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Northrop Grumman Corporation (U.S.)
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Lockheed Martin Corporation (U.S.)
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AeroVironment, Inc. (U.S.)
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Elbit Systems Ltd. (Israel)
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DJI (China)
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Thales Group (France)
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Boeing (U.S.)
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BAE Systems (U.K.)
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Israel Aerospace Industries (IAI)
Market Players
Northrop Grumman Corporation, Elbit Systems Ltd., Israel Aerospace Industries, AeroVironment, Inc., Lockheed Martin Corporation, The Boeing Company, Thales Group, Textron Inc., Raytheon Technologies Corporation, BAE Systems plc, are the major market players operating in the global military drone market.
Attribute
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Details
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Base Year
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2021
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Historic Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, Volume in Units, and CAGR for 2017-2021 and 2022-2027
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Report coverage
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Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends
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Segments covered
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· Product Type
· Technology
· Altitude
· Range
· Weight
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Regional scope
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North America; Asia Pacific; Europe & CIS; South America; Middle East & Africa
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Country scope
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United States; Canada; Mexico; China, India, Japan, Thailand, Indonesia, Australia, South Korea; Germany, France, United Kingdom, Spain, Italy, Netherlands, Russia, Poland; Brazil, Argentina; Saudi Arabia, Iran, Israel, UAE, Turkey
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Key companies profiled
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Northrop Grumman Corporation, Elbit Systems Ltd., Israel Aerospace Industries, AeroVironment, Inc. , Lockheed Martin Corporation, The Boeing Company, Thales Group, Textron Inc., Raytheon Technologies Corporation, BAE Systems plc
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Customization scope
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10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
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