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Military Drone Market Size

Report ID: GMI2484
Published Date: Oct 2024
Report Format: PDF

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Military Drone Market Size

The global military drone market was valued at USD 14.6 billion in 2023 and is estimated to grow at a CAGR of over 13% from 2024 to 2032.

military drone market

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The ongoing rise in global defense budgets is fuelling the growth of the military drone market. Countries are investing heavily in modernizing their armed forces, with a strong focus on unmanned systems. This trend is particularly evident in regions facing increased geopolitical tensions, such as Asia-Pacific, Europe, and the Middle East. Higher defense spending allows governments to invest in advanced drone technologies for various military operations. For instance, in 2023, the Stockholm International Peace Research Institute (SIPRI) has published global military spending hit $2443 billion, jumping 6.8% - the biggest leap since 2009. The world's top military spenders, led by the US, China, and Russia, pumped more money into defense, fueling demand for cutting-edge tech like military drone.

Military Drone Market Report Attributes
Report Attribute	Details
Base Year:	2023
Military Drone Market Size in 2023:	USD 14.6 billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	13.5%
2024 – 2032 Value Projection:	USD 44.5 billion
Historical Data for:	2021-2023
No. of Pages:	1,084
Tables, Charts & Figures:	1,120
Segments covered:	Motors, Application, Platform type, Range, Propulsion, Size/weight class, Mode of operation, End-user, Take-off
Growth Drivers:	Significant increase in global defense expenditures fuels UAV demand Growing reliance on unmanned aerial systems for ISR operations Increasing growth of military drone fueled by AI and autonomous innovations Increased use of drone in asymmetric warfare and counter-insurgency Emerging focus on drone swarms and counter-drone innovations
Pitfalls & Challenges:	Regulatory and ethical hurdles impacting global drone adoption Increasing cybersecurity threats posing risks to drone operations

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Military forces are increasingly turning to drone for Intelligence, Surveillance, and Reconnaissance (ISR) missions. These unmanned systems provide real-time information without putting human lives at risk. Drones can operate in dangerous or hard-to-reach areas, offering continuous monitoring of battlefields and border regions. Equipped with advanced sensors, high-quality cameras, and communication systems, ISR drone have become essential tools for gathering valuable intelligence.

For instance, In July 2024, India approved a $3.5 billion deal to acquire 31 MQ-9B drone from General Atomics for its Navy, Army, and Air Force. These drone, known for long-endurance, high-altitude capabilities, enhance India’s defense with advanced intelligence, surveillance, and combat functions, showcasing how modern militaries increasingly rely on drone for critical, complex, and versatile operations. Defense forces are keen to improve their surveillance capabilities and increase mission success rates with accurate, up-to-the-minute data.

The addition of artificial intelligence (AI) and autonomous technologies is reshaping military drone capabilities, allowing them to handle more complex tasks with less human input. AI-enabled drone can process information, spot patterns, and make important decisions on the fly.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The global market size for military drone was valued at USD 14.6 billion in 2023 and is estimated to grow at a CAGR of over 13% from 2024 to 2032, driven by rising global defense budgets.

Brushed drone motors are the fastest-growing segment with a CAGR of over 14% in 2023, owing to their simplicity and affordability, making them popular in entry-level and hobbyist drones.

The U.S. market was valued at USD 4.5 billion in 2023, driven by substantial investments in defense, commercial applications, and technological advancements.

Key players in the industry include AeroVironment, Inc., Airbus, BAE Systems, Boeing, Robotican Corporation, Shield AI, Sierra Nevada Corporation, Teledyne FLIR LLC, Textron Systems, and Thales Group.