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Military Drones Market Projected to Grow at a CAGR of 12% from 2018 to 2025
November 6, 2018 | PRNewswireEstimated reading time: 1 minute
The military drones market is projected to grow at a CAGR of 12% from 2018 to 2025.
The military drones market is projected to grow from $12.1 billion in 2018 to $26.8 billion by 2025, at a CAGR of 12% during the forecast period. Unmanned aerial vehicles (UAVs), also known as drones, are remotely piloted aerial vehicles, which are increasingly being used in the defense sector for a number of applications such as border surveillance, monitoring, surveying and mapping, combat operations, and product delivery. The rising use of drones in military applications is fueling the growth of the military drones market across the globe. The European and Latin American regions are expected to be the new revenue-generating markets for unmanned aerial vehicles. Rising defense budgets and increasing adoption of UAVs in various military applications are contributing to the growth of the military drones market across the globe.
Based on type, the fixed-wing segment is expected to lead the military drones market in 2018.Fixed-wing drones have longer endurance as compared to other types of UAVs, thereby making them suitable for use in military applications.
Fixed-wing drones can cover longer distances as compared to rotary-wing drones.These drones generally use gas engines as power sources, which also provide them with endurance to cover long distances.
Several fixed-wing drones can fly for over 15 hours without the need to land for refueling. These drones are used in intelligence, surveillance, and reconnaissance (ISR) operations to record information about potential targets that are otherwise difficult to detect.
Based on application, the Intelligence, Surveillance, Reconnaissance, and Target Acquisition (ISRT) segment is expected to lead the military drones market in 2018.
Based on application, the Intelligence, Surveillance, Reconnaissance, and Target Acquisition (ISRT) segment is expected to lead the military drones market in 2018. The growth of this segment can be attributed to the increasing transnational and regional instability across the globe due to rising instances of terrorist activities.
North America is expected to lead the military drones market in 2018. The North American region is expected to lead the military drones market in 2018.The US and Canada are key countries considered for the market analysis in this region.
Increase in defense expenditures of the US and Canada and the presence of major UAV manufacturers in North America are key factors contributing to the growth of the military drones market in this region.
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