Military Robots Market To Boost Incredible Growth: 2022, Share Valuation and Industry Size 2027
The global military robot market size is expected to reach USD 25.66 billion by 2027, exhibiting a CAGR of 12.2% during the forecast period. The growing adoption of advanced aerial robots in military operations, including attacking, rescue activities, surveillance, and others will have a tremendous impact on the global market, states Fortune Business Insights, in a report, titled “Military Robots Market Size, Share & Industry Analysis, By Platform (Airborne, Land, Naval), By Mode of Operation (Semi-Autonomous and Autonomous), By Mode of Propulsion (Manual, Electric, and Hybrid), By Application (Intelligence, Surveillance, and Reconnaissance, Search and Rescue, Combat Support, Transportation, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 13.87 billion.
The military robots market is a rapidly growing segment of the global defense industry. Military robots are autonomous or remotely controlled machines designed to operate in military environments and perform a variety of tasks, including surveillance, reconnaissance, search and rescue, bomb disposal, and combat operations.
The market for military robots is driven by several factors, including increased investment in defense technology by governments worldwide, the need to reduce the risk of casualties in military operations, and the growing demand for unmanned aerial vehicles (UAVs) and unmanned ground vehicles (UGVs) for various military applications.
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The Report Lists the Key Companies in the Military Robots Market:
- Northrop Grumman Corporation (The U.S.)
- Thales Group (France)
- FLIR Systems, Inc. (The U.S.)
- Clearpath Robotics Inc. (Canada)
- Cobham Limited (The U.K.)
- QinetiQ (The U.K.)
- AeroVironment, Inc.
- BAE Systems. (The U.K.)
- Elbit Systems Ltd. (Israel)
- Raytheon Technologies (The U.S.)
Combination of Cutting-edge Technologies in Military Robots to Aid Growth
The amalgamation of technologies such as artificial intelligence, real-time data monitoring, and the Internet of Things (IoT) has accelerated the demand for military robots in modern warfare, thus aiding the market. These robots can track, record, and perform required counter-attacks on the targets located far away from the soldiers, hence easily identifying enemies on the ground sea, or air. The increasing utilization of robots for intelligence, surveillance, and reconnaissance (ISR) activities will bolster the healthy growth of the market. Furthermore, the growing focus of companies towards designing and developing small robots capable of transmitting images and videos to the ground-based station for assisting soldiers to make real-time decisions on battlefields will subsequently augur well for the global market during the forecast period.
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Presence of Major Manufacturing Companies to Boost Development in Europe
Europe is expected to experience a rapid growth rate during the forecast period owing to the presence of prominent manufacturers in the region. According to The World Robotics 2019, 700 service robot manufacturing companies are identified across the globe, out of which 307 companies are operating in Europe. The increasing trend for advanced robots with features such as speech and haptics-based human-machine interface, navigation and collision avoidance, motion, and task planning will further propel the growth of the market in Europe. The increasing military expenditure coupled with robust homeland security will have an excellent impact on the market in the region.
The military robots market highpoints:
- An in-depth analysis of the market
- Valuable facts and figures
- Profound data about leading regions
- Latest market development
- Key policies implemented by companies
- COVID-19 impact
October 2019: BAE Systems, a British multinational defense, security, and aerospace company developed Robotic Technology Demonstrator (RTD) as a program to showcase the latest in robotic combat systems.
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