Saab AB, General Atomics, Lockheed Martin Corporation, Trexton Inc., Thales Group, BAE Systems Plc, Elbit Systems Ltd., AeroVironment Inc., Hindustan Aeronautics Ltd, and Northrop Grumman Company, among others, are the key players in global market for military drones.
As per the analysis by Expert Market Research, the global military drone market size reached a value of around USD 12.99 billion in 2022. The market is expected to grow at a CAGR of 9.50% between 2023 and 2028, reaching a value of USD 22.4 billion by 2028.
Military drones are a contemporary form of force multiplier that can improve the ability of security forces to recognise new dangers to national defence and security. As unmanned aircrafts, they can be used to perform a range of operations, including surveillance, intelligence collection, target surveillance, remote sensing, and battle. Military drones perform reconnaissance missions, serve as border guards, and spot dangerous regions in far-off places.
Many international military organisations are increasingly implementing drones for border protection, law enforcement, and combat operations. The demand for advanced military drones is expanding as a result of the cost-effectiveness of these devices compared to manned aircrafts and their growing integration into warfare systems to address combat threats.
The rise in military spending, coupled with the increased demand for better surveillance systems and defence modernisation, are driving the expansion of the global military drones market. Various governments are increasing their spending on military drones in order to increase the effectiveness of military operations, which is expected to boost demand and increase military drone manufacturing, thereby promoting the growth of the global market.
Asia Pacific is anticipated to grow significantly and have a high CAGR military drone market share during the forecast period. This can be attributed to increasing military spending by several countries in an effort to improve their defence capabilities. Demand for military drones is anticipated to rise as border disputes over territory ownership and control between two or more states become more frequent. Territorial disputes have become more frequent in recent years in the Asia Pacific region. Thus, in order to improve situational awareness and border patrol, several nations have expanded military spending to buy real-time surveillance drones. This will significantly aid the military drone market.
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Saab AB is a leading military and security business with its headquarters in Sweden that operates in the aerospace, aviation, and defence sectors. Aircraft, missiles, electronics, and computers are among its offerings. The company develops, produces, and supports cutting-edge technologies for aviation, weaponry, command and control, sensors, and underwater systems. There are numerous business areas in which the company operates. The development of military and commercial aircraft technologies falls under aeronautics. Radar, signals intelligence, self-defence, land-based, and naval systems form a part of electronic defence systems. Meanwhile, security and defence solutions offer computerised command, control, communications, and intelligence solutions to the military and public security markets, among others.
|Headquarters:||California, United States|
General Atomics creates cutting-edge technological solutions for use in both public and private sectors. Privately held and vertically integrated, the company makes investments in the most advanced technologies and the resources needed to make those innovations available as products to clients all over the world. Some of its leading initiatives include the Predator® unmanned aerial vehicles, TRIGA® research reactors, and MagLev transport. Along with airborne sensors, advanced electric, electrical, wireless, and laser technology, the company also offers research and manufacturing services for remotely operated surveillance aircraft like the Predator drones.
|Headquarters:||Maryland, United States|
Lockheed Martin Corporation is a multinational security and aerospace firm with a focus on aerospace products, such as aeroplanes, satellites, launchers for outer space, and defence systems, as well as other high-tech equipment and services. The company's primary business activities are research, manufacture, integration, design, development, and maintenance of sophisticated technology systems, products, and services. Lockheed Martin Corporation's main business activities include developing, manufacturing, integrating, and maintaining high-tech systems, products, and services.
|Headquarters:||Rhode Island, United States|
Textron Inc. is a multi-sector company that uses its global network of aerospace, defence, industrial, and financial enterprises to provide consumers with cutting-edge products and services. Some of Textron's well-known global trademarks include Bell, Cessna, Jacobsen, Beechcraft, Pipistrel, Arctic Cat, Kautex, Lycoming, E-Z-GO, and Textron Systems. The company's current core structure includes manufacturing segments for the automotive, industrial, and aircraft industries. Textron companies create, manufacture, deploy, and support enduring solutions for a complex world with a goal to defend, protect, and serve its clients.
Thales is a pioneer in global technology with more than 81,000 people across five continents. The ‘deep tech’ breakthroughs in which the group is investing include big data, artificial intelligence (AI), cybersecurity, connectivity, and quantum technology. The company manufactures, markets, and sells electronic devices and systems for the aviation, military, and defence industries. For communications, navigation, earth observation, and space exploration, Thales offers satellites, payloads, equipment, systems, and services. Its main operating segments are Defence and Security, Digital Identity and Security, Aerospace, Transport, and Space.
|Headquarters:||Farnborough, United Kingdom|
BAE Systems plc is an international corporation specialising in aerospace, security, and armaments. The corporation works on the creation and delivery of cutting-edge security, defence, aerospace, and information technology systems for use in the air, on land, and at sea. In addition to producing specialised security and protection products, BAE Systems, Inc. also designs, develops, manufactures, and offers service support for armoured combat vehicles, artillery systems, and munitions. It also offers support and service solutions for current and future defence, intelligence, and civilian systems.
Elbit Systems Ltd. is a global leader in high technology, involved in numerous defence, homeland security, and commercial programmes. The company, which consists of Elbit Systems and its subsidiaries, engages in a variety of business ventures, including unmanned aircraft systems, command, control, computing, and communications (C4ISR), and aerospace, land, and naval systems. In addition to creating new technologies, the company concentrates on platform upgrades and on offering a variety of support services, such as training and simulation systems.
|Headquarters:||Virginia, United States|
AeroVironment is a market leader in the design, production, development, support, and operation of tactical missile systems, high-altitude pseudo-satellites, small, unmanned aircraft systems, and commercial information systems. The company provides actionable intelligence needed to move forward with confidence to troops, growers, engineers, and others. Small, unmanned aircraft systems are primarily focused on by the company that can fly safely at low altitudes in a variety of weather conditions. The tactical missile systems segment largely focuses on aircrafts that can be launched through tubes and deployed by pressing a button.
Based out of Bengaluru in Karnataka, Hindustan Aeronautics Ltd (HAL) designs and produces avionics, develops software, modernises Indian military aircrafts, and manufactures fighter planes, marine gas turbine engines, helicopters, jet engines, avionics, and overhauls. The corporation uses internal research, agreements for information transfer and licences, and production-related agreements to create its products. The company works on a variety of products, including aeroplanes, aero-engines, avionics accessories, and aerospace structures. It also designs, develops, manufactures, repairs, overhauls, upgrades, and services them.
|Headquarters:||Virginia, United States|
Northrop Grumman Corporation is a significant American manufacturer with a focus on electronics, information technology, and commercial and defence aerospace. The company produces drones and decoy aircrafts, as well as airborne fire-control and early-warning radars, electronic countermeasure systems, the E-2C Hawkeye early-warning aircraft, and military radar systems. Northrop produces some of the most cutting-edge products in the world, including all-seeing radars, next-generation satellites, advanced aeroplanes, and pioneering cyber security solutions.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.