Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global military unmanned aircraft systems market projected to drive due to UAS help in combat terrorism and modernization initiatives taken by armed forces across the globe
The global military unmanned aircraft systems market anticipated growing with a CAGR over 22.36% over the forecast period, 2020-2027. It is primarily attributed to the surge in demand for unmanned aircraft systems for surveillance and reconnaissance activities. Further, the growth in the procurement of UAS by defense forces will propel the military unmanned aircraft systems demand globally. Additionally, the technical progress and military procurement are the driving forces behind the sale of military unmanned aircraft systems. In recent years, the popularization of technologies such as machine learning, artificial intelligence, and collaborative navigation has promoted the evolution of the global military to become more intelligent and multifunctional.
Moreover, the rise in demand for advanced navigation and autopilot technology will spur the global military unmanned aircraft systems market size in the future periods.
The unmanned aircraft systems have the advantages of portability, lightweight, small size, good concealment, and flexibility. Also, UAS is suitable for Special Forces and small units in various environments and useful for performing low-altitude surveillance, communications, electronic interference, and other combat tasks. Furthermore, the rise in expenditure of defense by developing and developed countries will foster the growth of the military unmanned aircraft systems industry. According to the Stockholm International Peace Research Institute (SIPRI), in 2018, the top five spenders contribute around 60% of the world's military expenditure.
Also, the increase in the applications of unmanned aircraft systems for battlefield intelligence collection, damage assessment, and high-quality reconnaissance, along with sharply amplified internal and external security threats, have forced countries to resort to UAS systems. These are vital factors promulgate the UAS market in the forecast span.
Type Overview in the Global Military Unmanned Aircraft Systems Market
Based on type, the global military unmanned aircraft systems market classified into fixed-wing, rotary-wing UAVs, and vertical take-off and landing (VTOL) UAVs. The vertical take-off and landing (VTOL) UAVs will be the fastest-growing segment in the forecast period. It is attributable to VTOL require much less space to launch and recover, as they do not need to use a runway. Further, it is more controllable than fixed-wing aircraft due to the ability to vary the relative speed of each rotor, thus creating changes in thrust and torque.
Application Overview in the Global Military Unmanned Aircraft Systems market
Based on the application, the global military unmanned aircraft systems market is segregated in intelligence, surveillance, and reconnaissance (ISR), combat operation, target acquisition, search and rescue, and delivery and transportation.
The intelligence, surveillance, and reconnaissance (ISR) held for the highest revenue in 2019 as it is helpful to monitor an area with live video capabilities during the day and night operations.
Ranges Overview in the Global Military Unmanned Aircraft Systems Market
Based on ranges, the global military unmanned aircraft systems market categorized into beyond visual line of sight (BVLOS), extended visual line of sight (EVLOS), and visual line of sight (VLOS)). The extended visual line of sight (EVLOS) segment accounted for a larger market share in 2019 and projected to lead the market by 2027. It is due to EVLOS useful in military operations, monitoring, and firefighting & disaster management applications.
Regional Overview in the Global Military Unmanned Aircraft Systems Market
By geography, the Global Military Unmanned Aircraft Systems Market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America accounted for maximum revenue share in 2019, owing to the presence of keys players in these regions, and sales of military unmanned aircraft systems have doubled in the US. Additionally, the massive spending by the USA government in the defense will spur the North American market.
Global Military Unmanned Aircraft Systems Market: Competitive Landscape
Companies such as AeroVironment, Inc., China Aerospace Science, and Technology Corporation, Elbit Systems Ltd., FLIR Systems, Inc., General Atomics Aeronautical System, Israel Aerospace Industries, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company, Textron Inc., the Boeing Company, and Turkish Aerospace are the key players in the global military unmanned aircraft systems market.