Military Robots Market to Touch USD 24.2 Billion at 10.7% CAGR by 2030
Research Reports
Sep 20, 2023
Military Robots Market Overview
The global Military Robots Market will touch USD 24.2 billion at a 10.7% CAGR by 2030, as per the recent Market Research Future report.
Drivers
Growing Need for UAVs to Boost Market Growth
Unmanned aerial vehicles that are utilized for reconnaissance, surveillance, & targeted attacks, are in increasing demand, which is one of the main drivers. Unmanned ground vehicles are also employed in operations like bomb disposal and combat support. Reducing the possibility of combat-related human losses is another motivator. Robotic assistance in difficult circumstances can help keep soldiers and civilians safe while also enabling more efficient military operations.
Opportunities
Advances in Technologies to offer Robust Opportunities
Innovations in robotics & AI technologies that are enabling more autonomy and intelligence in military robots, are another significant element driving the market. Robots can now carry out increasingly difficult jobs including travelling across treacherous terrain, locating and tracking targets, & taking part in battle thanks to these technologies. Budgets for the military are also a factor in the market’s expansion.
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Restraints and Challenges
High Cost to act as Market Restraint
The high price of military robots, threat of cyberattack, and complexity of designs may act as market restraints over the forecast period.
Market Segmentation
The global military robots market is bifurcated based on payload, mode of operation, application, and platform.
By payload, sensor will lead the market over the forecast period.
By mode of operation, autonomous will domineer the market over the forecast period.
By application, ISR will spur the market over the forecast period.
By platform, airborne will command the market over the forecast period.
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COVID-19 Analysis
The COVID-19 epidemic possessed a significant influence on the world’s economies on a number of levels. Since the supply of military robots is seen to be of utmost importance for applications such as explosive ordinance disposal & mine clearance, the worldwide manufacturing and production of military robot components and systems, as well as their assembly lines, are facing a modest influence. The number of the COVID-19 positive cases & exposure a country has been experiencing, the pace of manufacturing and production activities, compliance with import-export rules, and other factors all affect when military robot production, manufacture, and delivery may resume. Despite the fact that global market enterprises may still be accepting orders, delivery dates for such orders may not yet be set.
Regional Analysis
North America to Head Military Robots Market
The United States is the main consumer and manufacturer of these systems, making North America the region with the greatest market for military robots. The United States Department of Defense is the top investor in this area, concentrating on creating cutting-edge unmanned systems for various military uses. The demand for sophisticated unmanned systems to assist military operations, together with developments in AI & robotics technologies is projected to fuel market growth in this area.
Key Players
Eminent industry players profiled in the military robots market report include FLIR Systems, Inc. (US), General Dynamics Corporation (US), BAE Systems (UK), Lockheed Martin Corporation (US), and Saab AB (Sweden).
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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