Military Unmanned Aircraft Systems Market SWOT Analysis by Key Players 2019-2024


Posted May 18, 2021 by bisrsrch

The military unmanned aircraft systems market is anticipated to grow at a robust CAGR of 24.96% on the basis of capacity during the forecast period from 2019 to 2024.

 
UAVs are being used globally by the military forces across the world. UAVs have become pivotal forms of arsenal in all military forces due to their enhanced capabilities. It is being observed that military budgets for UAVs is growing due to advancement in UAV technologies. The various applications of UAVs in the defense industry like gathering intelligence, surveillance of hostile environments, and reconnaissance have made them a huge asset in the battlefield. Various countries are continuously researching and developing UAVs to make them more efficient, reliable, and autonomous for military applications. Hence, the R&D budget for UAV programs of top countries is increasing significantly. The need to attain a global dominance is one of the driving forces for the countries which in turn is increasing the defense budgets resulting in the growth military UAV market.

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The strategies adopted by the key players in the global military unmanned aircraft systems market to gain a significant market share in the growing industry of military UAVs have been varying from product launches to acquisitions to partnerships, over time. The key developments and strategies segment provide comprehensive insights of the different market development activities that are currently being conducted by different key players in the industry to compete with each other directly. A company can lead the market and gain overall growth by adopting several strategies, such as introducing innovative products from time to time, improving the framework of its existing products, collaborating with other market leaders, and acquiring relatively weaker companies into its domain.

The strategy of launching new and innovative products is adopted by players, such as Airbus S.A.S, and Elbit Systems Ltd. to bring competitiveness in the market. Moreover, the market growth is further expected to attract the involvement of various companies across different segments of the value chain. The key players actively participating in the military unmanned aerial market are Airbus S.A.S, General Atomics Aeronautical Systems, Inc., Israel Aerospace Industries Inc., Lockheed Martin Corporation, and, Northrop Grumman Corporation, among others.

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UAVs come in numerous forms, each having its own application. For years, UAVs were used by individuals for aerial photography and videography. However, there are innumerable opportunities in different industries, and these opportunities need different take-off or launching mechanisms to achieve the desired output. Moreover, in defense industry, each UAV has its own application and each application require a different launch type to complete the task. The three primary types of drones based on the launching mechanism are fixed wing, rotary wing, and hybrid wing.

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Issued By BIS RSRCH
Country United States
Categories News , Research , Technology
Tags combat operations , fixedwing , military unmanned aircraft systems , military unmanned aircraft systems market , rotarywing uavs , search and rescue , target acquisition , vertical takeoff and landing vtol uavs
Last Updated May 18, 2021