Military Drones Market | Drone Swarm Technology is Trending in $12.1 Billion Industry According to TBRC Report
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LONDON, Dec. 11, 2019
LONDON, Dec. 11, 2019 /PRNewswire/ — Drone swarm technology is growing its popularity in the military drones market due to its cost efficiency and high fire-power. Drone swarms are a large group of small drones that coordinate with each other to perform actions such as a survey of enemy territories, search and rescue missions, and attacks on hostile objects. Drone swarm technology involves the production of several small and cheap drones rather than one large expensive drone, therefore offering military drone manufacturers and end-users efficiency in terms of cost and time. With the use of advanced swarm technologies, military and armed forces can effectively carry out lethal drone strikes in multiple places at once. For instance, Microsystems developed a drone swarming system called the WOLF-PAK in 2017 which has the capability to fly small drones in groups and make them split away from the group whenever necessary. In 2019, the U.S Defense Advanced Research Projects Agency (DARPA), and the U.S Air Force Research Lab invested in a project called Gremlins involving multiple controlled micro-drones that drop out of cargo planes to swarm enemy defenses.
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The Military Drones Market Will Grow At 12% CAGR, Driven By Government Funding
The global military drones market was valued at about $12.1 billion in 2018 and is expected to grow to $19.04 billion at an annual growth rate of 12.0% through 2022. Increasing government funding on military drones to enhance efficiency in military operations boosts the demand for the production of military drones. According to the 2018 report published by the Bard College Center for the Study of the Drone, in 2019, the U.S. Navy funding for unmanned systems increased by $1 billion (38%) and the U.S Army funding increased by $719 million (73%), when compared to 2018. Furthermore, the Department of Defense in the US requested approximately $9.39 billion for drones and associated technologies in the fiscal year 2019, representing a significant expansion of 26% in drone spending over the 2018 budget, which was $7.5 billion. Hence, the increasing government spending on unmanned drones is driving the military drones market.
Lack Of Skilled Military Drone Pilots
The shortage of trained and skilled military drone pilots equates lesser usage of military drones, thus hindering the military drone market growth. Military drones are more sophisticated compared to commercial drones and require trained pilots to operate them. Though the current budget supports purchases of military drones, lack of trained professionals could lead to lesser drone utilization. According to an article by The Washington Post published in 2016, the lack of skilled drone pilots caused the US military to cut 8% of its drone combat missions in 2015. The number of active pilots in the US has declined from over 800,000 in 1980 to barely 600,000 in 2017. There is a need for 637,000 drone pilots.
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Major Players In The Military Drones Market And Expansion Strategies Adopted By Them
Military drones are specifically used for military purposes such as border surveillance, battle damage management, combat operations, communication, delivery, and anti-terrorism weaponry. Military drones include tactical drones, MALE (Medium altitude, long endurance) drones, HALE (High altitude, long endurance) drones, TUAV (Tactical unmanned air vehicle) drones, UCAV (Unmanned combat air vehicle) drones, SUAV (Small unmanned air vehicle) drones, and others. Major players in this market are Northrop Grumman, Lockheed Martin, Boeing, AeroVironment, and General Atomics. Companies have been investing in merger and acquisition activity to strengthen and expand their businesses. In November 2018, Elbit Systems, an aerospace and defense company, acquired IMI (Israel Military Industries) for $500 million. This acquisition will strengthen Elbit Systems to plan and enhance its product portfolio by utilizing the innovative small arm systems of IMI and expand its growth in the military weapons market. Israel Military Industries (IMI) is a defense weapon system house, specializing in the development and manufacture of weapons, military technology, offensive and defensive solutions for the modern battlefield, home land security and global terror. Israel Military Industries was founded in 1933 and is headquartered in Israel.
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