The global military drone market size was US$ 11.6 billion in 2021. The global military drone market size is estimated to reach US$ 31.4 billion by 2030, growing at a compound annual growth rate (CAGR) of 11.7% during the forecast period from 2022 to 2030.
Military drones are unmanned aerial vehicles that perform several missions, including surveillance, intelligence, target surveillance, remote sensing, and warfare. Operators called drone pilots which remotely control these craft. They are used to gather information on enemy movements, scout during firefights, and can be extremely useful in reconnaissance. In addition, military drones are effective because they cost less than conventional military weapons and have become surging accurate. Furthermore, the most common unmanned aerial system used in combat is the MQ-1 Predator.

Factors Affecting Marketing Growth

The rise in military spending and increasing demand for better surveillance solutions and defense modernization fueled the growth of the global market.
The high cost of UAV solutions is a hindering factor in the growth of the global market.
Government funding for military drones is surging to improve the efficiency of military operations, which is expected to increase the demand and boost the production of military drones. Thus, driving the global market.

Impact on COVID-19 Analysis

The COVID-19 outbreak impacted negatively the global military drone market. Services related to the procurement of essential defense equipment have been affected due to a lack of confidence in the market, resulting in fewer military drone business contracts. Major risk factors for military drone market participants are regulatory and policy changes, working capital management, dependence on labor, and solvency management and liquidity. Most of the drone developing facilities have been shut down during the pandemic due to travel restrictions, unavailability of the workforce, and supply chain disruptions. The private and commercial security industry was one of the most severely affected by the pandemic and initially saw a decline in investment.

Regional Analysis

Asia Pacific is anticipated to witness significant growth and register the highest CAGR during the forecast period. This can be attributed to the increase in military expenditure of countries to improve their defense capabilities. Due to the political tension in the countries, drones have been deployed to protect their borders. This is one of the most important factors fueling the growth of the global market in the region.

Leading Competitors
The prominent players in the global military drone market are:
AeroVironment, Inc.
The Boeing Company
Thales Group
Israel Aerospace Industries
Aeronautics Group
Animal Dynamics Ltd
Elbit Systems Ltd
Asteria Aerospace Limited
Teal Drones, Inc
Anduril Industries, Inc
Others
Segmentation Analysis
The global military drone market segmentation focuses on Type, Range, Technology, Application, and Region.
Segmentation on the basis of Type

Hybrid
Rotary Wing
Fixed Wing

Segmentation on the basis of Range

Beyond Line of Sight
Extended Visual Line of Sight
Visual Line of Sight

Segmentation on the basis of Technology

Autonomous
Semi-autonomous
Remotely operated

Segmentation on the basis of Application

Delivery and Transportation
Combat Operations
Intelligence, Surveillance, Reconnaissance, and Target Acquisition
Others

Segmentation on the basis of Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America