Combat Drone Market Size Poised To Reach USD 3.61 Billion By 2030


 San Francisco, 16 Oct 2024: The Report Combat Drone Market Size, Share & Trends Analysis Report By Component (Hardware, Software), By Product (Fixed-Wing, Multi-Rotor), By Technology, By Payload Capacity, By Power Source, By Region, And Segment Forecasts, 2024 - 2030

The global combat drone market size to reach at USD 3.61 billion by 2030 and is projected to grow at a CAGR of 15.7% from 2024 to 2030. The increasing demand for unmanned aerial vehicles (UAVs) for military operations, intelligence gathering, and surveillance is the major factor driving the market growth. Moreover, increasing military budgets amid ongoing geopolitical tensions and rising need to strengthen defense infrastructure are further driving the demand for combat drones, creating significant market growth. According to a report released by Stockholm International Peace Research Institute in 2024, the military expenditure across the globe reached USD 2443 billion in 2023, a 6.8% rise as compared to that in 2022.

The market growth is being further accelerated by the technological developments in terms of improvements in propulsion systems, such as electric and hybrid propulsion, that enhance endurance, speed, and maneuverability of drones. In addition, the introduction of advanced artificial intelligence and autonomous flight capabilities enables drones to operate with minimal human intervention. Besides, integration of cutting-edge sensors, high-resolutions cameras, thermal imaging, and robust communication systems in are expected to stimulate the demand for combat drones, proliferating the market expansion.

Access Research Report of Combat Drone Market @ https://www.grandviewresearch.com/industry-analysis/combat-drone-market-report

Advancements in autonomous flight and weaponization are significantly driving the market growth. The development of sophisticated artificial intelligence systems enables drones to operate with minimal human intervention, making them capable of executing complex missions independently. Moreover, the integration of advanced weaponry, such as precision-guided missiles and laser-guided bombs, has transformed combat drones into formidable military assets.

The market is witnessing high demand amid the growing prominence of Intelligence, surveillance, and reconnaissance (ISR) missions in the defense sector. The ability of drones to gather critical information and intelligence in real-time has become invaluable for military operations. Drone can be deployed to monitor enemy activity, identify potential threats, and gather intelligence on strategic targets. Their persistence, endurance, and ability to operate in challenging environments make them ideal platforms for ISR missions.

Recent Developments

  • In July 2024, Lockheed Martin Corporationcollaborated with the Defense Advanced Research Projects Agency (DARPA) for the development of artificial intelligence-based drones. The company received a USD 4.6 million contract to employ AI and machine learning techniques to create surrogate models of aircraft, electronic warfare, sensors, and weapons. This initiative is aimed at providing advanced modeling and simulation solutions for live, multi-ship beyond- visual-range missions
  • In July 2024, Thales Group signed a Memorandum of Understanding (MoU) with Garuda Aerospace for the development of the drone ecosystem in India. This initiative is aimed at advancing the development of technological solutions that enable secure drone operations and support the growth of drone applications in the country
  • In June 2024, Red Cat Holdings, Inc., (Teledrones, Inc.), revealed its plans acquire FlightWave Aerospace Systems Corporation, a Vertical Take-off and Landing (VTOL) drone, sensor, and software solutions provider. As a part of this initiative, the latter’s military-grade tricopter- Edge 130 will be included in the company’s line of unmanned Intelligence, Surveillance, and Reconnaissance (ISR) systems

Key Combat Drone Company Insights

Some of the key players operating in the market are SZ DJI Technologies Co. Ltd., Lockheed Martin Corporation, Northrop Grumman, Boeing, AeroVironment, Inc., and General Atomics among others.

  • Northrop Grumman delivers a broad range of products, services, and solutions to the U.S. and global customers, mainly to the U.S. Department of Defense (DoD) and intelligence community. The company’s major segments include aeronautics systems, defense systems, mission systems, and space systems
  • SZ DJI Technologies Co. Ltd. manufactures and supplies a range of commercial drones along with accessories and payloads. The company’s product portfolio includes drone series, such as the Phantom, Inspire, Ronin, and Spreading Winds. The company also provides attachments, such as aerial gimbals, flight controllers, flame wheels, and propulsion systems
  • Teal Drones, Inc., is an innovative tech company specializing in the design and manufacture of advanced UAVs for both commercial and military markets. The company aims to revolutionize aerial technology's utilization across various industries by delivering high-performance, rugged, and intelligent drone solutions
  • General Atomics is a defense and technologies company engaged in the manufacturing of unmanned aircraft and electro-optical, radar, automated airborne surveillance systems, and signals intelligence solutions. It also delivers electro-magnetic aircraft launch and recovery systems for the U.S. Navy, electro-magnetic rail gun, satellite surveillance, high power laser, power conversion systems, and hypervelocity projectile

Key Combat Drone Companies:

The following are the leading companies in the combat drone market. These companies collectively hold the largest market share and dictate industry trends.

  • Northrop Grumman
  • RTX Corporation
  • Israel Aerospace Industries Ltd.
  • AeroVironment, Inc.
  • General Atomics
  • Boeing
  • Thales Group
  • Elbit Systems Ltd.
  • Lockheed Martin Corporation
  • SZ DJI Technologies Co. Ltd.
  • Teal Drones, Inc.
  • Teledyne FLIR LLC

About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

For More Information: https://www.grandviewresearch.com/horizon

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