+1-888-308-5802     
News Contact Us

Military Drone Market to achieve considerable growth in 2024, North America to remain a dominant growth avenue

Author : Ronak Bora | Published Date : 2019-05-30 

North America is the leading region in the military drone market with the revenue share of over 70% in the year 2016. The growth of the market is attributed to the increasing adoption of the drone in the U.S. for the military and government application. For instance, the U.S the Federal Bureau of Investigation (FBI) and Department of Homeland Security is using drone for law enforcement and police investigation. They are also planning to use drones for disaster management and firefighting application.

Military Drone Market growth in Asia Pacific is attributed to the growing demand for the drones from the developing economies including India and China. China accounts for more than 50% share in the Asia Pacific market, driven by the increasing investments by the Chinese government for the procurement of the drones. The government is focusing on enhancing the domestic production of drones to reduce the imports from the U.S. For instance, in July 2017, China started the production of the CH5 Rainbow that will cost half as compared to the U.S. MQ-9 Reaper.

Request for a sample of this research report @ www.gminsights.com/request-sample/detail/2484

The changing face of warfare in the recent years has been a pivotal factor stimulating military drone market. Aided by cumulative product demand and rapidly progressive technological advancements, this vertical is expected to add a new dimension to the evolving smart industry. Ironically, the latest news about the U.S. military having developed drones that can decide who to kill has created major undulations in military drone industry. As a potential aftermath, the world is still debating over what such a technology can mean for the future of warfare and war ethics. However, it would be fair to state that the advantages of using drones in warfare and military operations have surpassed all debatable boundaries. This is quite evident from the estimates that claim military UAV market share to register a CAGR of 12% over 2017-2024.

The demand from government applications, especially for traffic monitoring and police operation & law enforcement is driving the military drone market. The traffic departments around the world have started testing and deploying drones to monitor and manage urban traffic systems. For instance, in December 2017, the police department in Dubai launched drones to monitor the traffic on the roads. These drones use 4G technology and are controlled by officers from the Dubai Command Room. They also provide a live broadcast of traffic jams during peak hours enabling quick dispatching on patrol units to ease the congestion.

Of late, drones are being designed with an element of human intelligence that make for highly effective weapons to locate and targeting terrorist operations and have effectively shifted the cost calculation for battles. Drones can be deployed for longer period of time and with less inconvenience to human resource. Specialized military drones in fact, are more lethal at reduced financial cost and potentially diminish the risk of life for those who control these drones as compared to ground forces or piloted aircraft. Driven by their highly commendable advantages, it has been forecast that military drone market outlook looks rather promising for the future, where there are chances for increased covert drone warfare and less declared warfare.

Make an inquiry for purchasing this report @ www.gminsights.com/inquiry-before-buying/2484

Military drone market will be driven by rising demand from government applications, especially for traffic monitoring and police operation & law enforcement. The traffic departments around the world have started testing and deploying drones to monitor and manage urban traffic systems. For instance, in December 2017, the police department in Dubai launched drones to monitor the traffic on the roads. These drones use 4G technology and are controlled by officers from the Dubai Command Room. They also provide a live broadcast of traffic jams during peak hours enabling quick dispatching on patrol units to ease the congestion.

The forthcoming years will witness military communities across the globe increasing their dependence on machines for defense and security purposes. This would call for substantial funding by various regional governments in drone development and advanced technologies. Most of the geographies across the globe have already increased their annual defense budget for deploying more unmanned drones for surveillance and safety purpose. This would perpetually augment the revenue graph of military drone market over the ensuing years.  

With the proliferation of advancements in military drone market and the changing implications these developments will have on warfare, regional governments plan to establish a common ground to discuss and set guidelines for the sustainable and beneficial use of military drones while safeguarding human interests. As the use of drones have far reaching consequences that are not limited to warfare, the trend for developing and using military drones across myriad applications will continue to remain consistent in the next few years. As per estimates, military drone industry size will be pegged at USD 13 billion by 2024.

Browse Full Report: www.gminsights.com/industry-analysis/military-drone-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us 

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: [email protected]
Blog: www.industry-source.org   

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

Related News

Fragrance Ingredients Market to cross 1.5 million tons consumption by 2024

Published Date: 2019-12-02         Author: Ronak Bora

Fragrance Ingredients Market growth will be driven by rising demand for beauty products along with increasing number of working women populations. These ingredients are added to products in order to give pleasant aroma. Growing purchaser expenditure on beautification along with increasing aging popu... Read More

Ammonium Nitrate Market is projected to showcase significant growth from agriculture sector over 2019-2025

Published Date: 2019-12-02         Author: Ronak Bora

Ammonium Nitrate Market growth is propelled by increasing usage of fertilizers in agriculture to keep the soil healthy and nutrients rich in order to feed the growing population. Advanced agricultural technologies such as efficient fertilization methods are certainly required to meet the global dema... Read More

Lubricants Market Outlook – The fluids sector has been stimulating the global industry

Published Date: 2019-12-02         Author: Ronak Bora

Lubricants Market size in the fluids sector is likely to rise with a CAGR of 8.6% over the coming years. These process oils have a wide utility in technical and chemical sectors for lubrication. Booming demand of chemicals especially in Asia Pacific region is likely to increase the productivity of f... Read More

© 2019 Fractovia. All Rights Reserved