Military Unmanned Aerial Vehicle (UAV) Market Size and Trend Analysis including Segments (Medium-Altitude Long-Endurance, High-Altitude Long-Endurance, Tactical UAV and Others), Key Programs, Competitive Landscape and Forecast, 2022-2032
Summary
Military Unmanned Aerial Vehicle (UAV) Market Size and Trend Analysis including Segments (Medium-Altitude Long-Endurance, High-Altitude Long-Endurance, Tactical UAV and Others), Key Programs, Competitive Landscape and Forecast, 2022-2032 report provides the market size forecast and the estimated Compound Annual Growth Rate (CAGR) for the next ten years. The report covers industry analysis including the key market drivers, trends, emerging technologies, and major challenges faced by industry participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military UAV market over the forecast period.
The need to operate in a network-centric combat environment with advanced electronic warfare and communication systems is a major influencer anticipated to drive the investment in the UAV programs worldwide. Moreover, major military powers such as the US, Russia, and China are now investing heavily in developing the next-generation of UAVs, which would integrate technologies such as Artificial Intelligence (AI) and Swarm technology to enable a higher level of autonomy in UAV operations. Countries like India, South Korea, Australia, Turkey, and Indonesia are also making significant efforts to integrate UAVs into their existing force structures under their ongoing military modernization plans. The Asia-Pacific region, supported by China, India, Australia, Japan, and South Korea with their multi-year procurement programs, is expected to lead the investment in the sector globally, exhibiting a steady pace of growth over the forecast period. The region continues to experience extreme geopolitical tensions due to long-drawn territorial and maritime disputes in the region that make it a fertile proving ground for UAV deployment.
The medium-altitude long endurance (MALE) UAV segment is anticipated to be the largest segment in the global military UAV market between 2022 and 2032. As the procurement of MALE UAVs for various ISR and long-range stealth missions is set to increase, it is anticipated that this segment will continue to account for the largest share of the total market over 2022-32. According to Venkatesh K, Defense Analyst at GlobalData: The indigenous development of MALE UAVs by countries such as India, China, and South Korea in the Asia-Pacific region, as well as joint procurement of MALE UAVs by European countries such as Germany, France, Spain, and Italy for sharing joint defence capabilities against common threats, has emerged as a key source of sustained investment for the MALE UAV segment, and it is expected to drive the market over 2022-32.
Asia-Pacific region is expected to dominate the global military UAV market from 2022 to 2032. China is projected to be the largest market for military UAV in the Asia-Pacific region. Modernization drives initiated by leading countries in the region to replace aging fleets, develop domestic UAV platform programs, and implement network-centric warfare (NCW) stratagems are anticipated to drive the market over the forecast period.
Key Highlights
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