Global Unmanned Loitering Munition Market Report: CAGR of 4.5% Expected as Manual Systems Dominate in 2023
DUBLIN, July 20, 2023 /PRNewswire/ — The “Unmanned Loitering Munition Market – A Global and Regional Analysis: Focus on Platform, Range, Operation Mode, Component and Region – Analysis and Forecast, 2023-2033” report has been added to ResearchAndMarkets.com’s offering.
The global unmanned loitering munition market is projected to reach $1.83 billion by 2033, growing at a compound annual growth rate (CAGR) of 4.5%.
The market is estimated to be valued at $1.18 billion in 2023, driven by technological advancements and the increasing demand for precise, efficient, and cost-effective military capabilities.
Unmanned loitering munitions, also known as suicide drones or kamikaze drones, have witnessed remarkable growth in recent years. These autonomous or remotely operated explosive devices are designed for reconnaissance, surveillance, and precision strike missions. Their ability to loiter on the battlefield for extended periods, actively searching for and engaging targets, is a key factor driving their demand.
The global unmanned loitering munition market presents significant opportunities for growth and innovation. Advancements in sensor and guidance technologies, including advanced sensors such as electro-optical/infrared cameras and synthetic aperture radar, along with the integration of artificial intelligence and machine learning algorithms, have further enhanced the effectiveness and lethality of these munitions.
The market can be segmented based on platform type, range, operation mode, and component. Ground-based unmanned loitering munitions dominate the market with a 68.43% share in 2023, owing to their demonstrated effectiveness, flexibility, versatility, cost-effectiveness, and technological advancements. Key players in this sector include Israel Aerospace Industries Ltd. (IAI), AeroVironment, Inc., Uvision, and others.
The market is further segmented by operation mode, with manual systems expected to dominate in 2023, accounting for a 75.29% revenue share. The demand for unmanned systems with manual permission execution capabilities contributes to this dominance.
In terms of range, the medium-range segment is anticipated to hold the largest market share in 2023, with a 48.2% revenue share. This is driven by the high demand for medium-range systems in military or security forces operating in vast regions, border surveillance applications, and scenarios requiring standoff capabilities.
The hardware segment is expected to generate significant revenues in the unmanned loitering munition market, followed by the software segment.
Geographically, the rest of the world is projected to witness substantial growth at a CAGR of 3.13%. The presence of established unmanned loitering munition providers and major industry players such as Israel Aerospace Industries Ltd. (IAI), ADASI, and Textron Systems in this region, coupled with the region’s significant defense budget and involvement in supplying suicide drones, drive market opportunities.
- AeroVironment, Inc.
- BAYKAR TECH
- Denel Dynamics
- Elbit Systems Ltd.
- Israel Aerospace Industries Ltd. (IAI)
- Nexter group KNDS
- Paramount Group
- Rheinmetall AG
- STM Savunma Teknolojileri Muhendislik ve Ticaret A.S.
- Textron Systems
- Turkish Aerospace Industries, Inc.
- UVision Air Ltd.
These players are actively contributing to the market’s growth through technological advancements, strategic partnerships, and product innovation.
No. of Pages
2023 – 2033
Estimated Market Value (USD) in 2023
Forecasted Market Value (USD) by 2033
Compound Annual Growth Rate
Key Topics Covered:
1.1 Industry Outlook
1.1.1 Global Unmanned Loitering Munition Market: Overview
1.1.2 Current and Emerging Technological Trends
188.8.131.52 Swarm Drones
184.108.40.206 Artificial Intelligence (AI) in Drones
220.127.116.11 3D Printing
1.1.3 Global Unmanned Loitering Munition Market: On-going and Upcoming Projects
18.104.22.168 Autonomous Multi-Domain Adaptive Swarms-of-Swarms (AMASS) Project
22.214.171.124 The French Icarus Project
126.96.36.199 Colibri Project
1.1.4 Unmanned Loitering Munition Landscape: Changing Geopolitical Scenario
1.1.5 Supply Chain Analysis
1.2 Business Dynamics
1.2.1 Business Drivers
188.8.131.52 Increasing Deployment of Loitering Munition in Armed Conflicts
184.108.40.206 Increasing Swarm Operations
1.2.2 Business Challenges
220.127.116.11 Range Limitations of Drones Chosen for Loitering Munition
18.104.22.168 Evolving Market Landscape Restricting Large Volume Procurement of Loitering Munitions
1.2.3 Business Strategies
22.214.171.124 New Product Launches
1.2.4 Corporate Strategies
126.96.36.199 Partnerships, Collaborations, Agreements, and Contracts
188.8.131.52 Mergers and Acquisitions
1.2.5 Business Opportunities
184.108.40.206 Emergence of Smart Loitering Munition Systems
2.1 Global Unmanned Loitering Munition Market (by Platform)
2.1.1 Market Overview
220.127.116.11 Demand Analysis of the Global Unmanned Loitering Munition Market (by Platform)
2.2 Global Unmanned Loitering Munition Market (by Range)
2.2.1 Market Overview
18.104.22.168 Demand Analysis of Unmanned Loitering Munition Market (by Range)
3.1 Global Unmanned Loitering Munition Market (by Operation Mode)
3.1.1 Market Overview
22.214.171.124 Demand Analysis of Unmanned Loitering Munition Market (by Operation Mode)
3.1.2 Autonomous System
3.1.3 Manual System
3.2 Global Unmanned Loitering Munition Market (by Component)
3.2.1 Market Overview
126.96.36.199 Demand Analysis of Unmanned Loitering Munition Market (by Hardware)
188.8.131.52 EO/IR Payload
184.108.40.206 Avionics System
220.127.116.11 Propulsion System
18.104.22.168 Demand Analysis of Unmanned Loitering Munition Market (by Software)
5 Markets – Market Share Analysis & Company Profiles
6 Growth Opportunities and Recommendations
7 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/jptdjd
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