Global Tactical UAVs Market 2024

Global Tactical UAVs Market 2024

In recent years, the growth and advancements in newer-generation tactical UAVs (unmanned air vehicles) have shown no signs of slowing down. This trend is expected to continue and accelerate in the coming years. Real-time information has proven to be a powerful tool for warfighters, commanders, and troops in critical military missions. The ability to tailor responses to threats relies on superior tactical intelligence, surveillance, and reconnaissance, leading to an increasing demand for tactical UAVs from armed forces worldwide.

The rising military expenditures have resulted in increased subsidies for R&D in unmanned systems, enabling the development of efficient and capable UAVs. In 2023, the military segment held the largest market share due to the growing demand for intelligence, surveillance, and reconnaissance activities. This segment is projected to have the highest compound annual growth rate (CAGR) during the forecast period. The military segment market was valued at USD 3.2 billion in 2023 and is expected to reach USD 7.2 billion by 2029, with a CAGR of 12.2%.

The diverse military applications and the need for highly effective surveillance and reconnaissance in critical military operations are driving the demand for tactical UAVs in the military applications segment. With ongoing conflicts between major global military powers and increasing global unrest, many militaries are expanding their fleets of tactical UAVs to counter potential adversary actions successfully.

North America held the largest market share in 2023, primarily driven by high defense expenditure, significant investments in R&D, and a focus on adopting tactical UAVs in the defense sector. The North America tactical UAVs market was valued at USD 1.5 billion in 2023 and is expected to reach USD 3.1 billion by 2029, with a CAGR of 11.1%. The United States, with its extensive use of tactical UAVs for military purposes, has been at the forefront of this technology. The country's substantial defense spending and ongoing R&D efforts have led to the induction of new and advanced tactical UAVs in military and law enforcement agencies.

The Asia-Pacific region is expected to witness impressive growth during the forecast period, driven by improving defense expenditure. Countries like India and China are anticipated to contribute significantly to market growth. China, in particular, has been experiencing substantial development in tactical UAVs, both for combat purposes and various other military activities. The People's Liberation Army has been actively involved in UAV development, showcasing an increasing trend in recent times.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the end user, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

The global baby bottle market has been extensively analyzed by categorizing it according to various sub-segments in order to provide accurate forecasts of industry size and assess trends within specific areas.

The global market for tactical UAVs can be segmented by end user: military, law enforcement, others. Military held the largest share in the global tactical uavs market, accounting for 78.6% of the market in 2023. Moreover, the segment is anticipated to grow at the highest CAGR in the coming years.

Tactical UAVs market is further segmented by region: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. North America held the highest share in the global tactical uavs market. However, Asia-Pacific is forecast to register the highest CAGR during the forecast period 2024 - 2030.

The report also provides analysis of the key companies of the industry and their detailed company profiles including Leonardo S.p.A., Boeing Company, Safran S.A., Northrop Grumman Corporation, Lockheed Martin Corporation, General Atomics, SZ DJI Technology Co., Ltd., Israel Aerospace Industries (IAI), Aeronautics Ltd., BAYKAR Technology, Bluebird Aero Systems Ltd., Elbit Systems Ltd., AeroVironment Inc., Textron Inc., UMS Skeldar AG, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

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Market Segments Covered in Global Tactical UAVs Industry Analysis:

i.) End user

• Military
• Law enforcement
• Others

ii.) Region

• North America
• Europe
• Asia-Pacific
• MEA (Middle East and Africa)
• Latin America