Military Security & Defence Market Research News

Military robots market to reach $21.6 billion by the end of 2024

Military robots are autonomous robots or remote control mobile robots especially designed for military applications, search operation, rescue operation and even for attack. These robots are operated by soldiers and are programmed to perform according to the given instruction.

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They have been proved as an essential tool for military operations.

Market Size & Forecast

Global military robots market is anticipated to flourish at a robust compound annual growth rate (CAGR) of 9.8 % over the forecast period 2017-2024.

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The global military robot market stood at valuation of around USD 13.5 Billion in 2016 and is expected to reach at a valuation of about USD 21.6 Billion by the end of 2024.

Increasing terrorist activities across the globe and increasing investment in defense sector are some major factors which are expected to foster the growth of global military robots market.

In terms of region, global military robots market is segmented into five major regions i.e. North America, Europe, Asia Pacific, Latin America and Middle East & Africa Region.

In terms of revenue share, North America region has been dominating the global military robots market owing to the various factors such as technological advancement and high military spending in this region.

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On the other hand, Europe is the second leading market for military robots and is expected to witness a robust growth during the forecast period. The market of military robots in Europe region is anticipated to flourish at highest compound annual growth rate (CAGR) over the forecast period.

This growth of Europe region can be attributed to various factors such as rising adoption of robots and humanoids in defense sector and presence of robot industries in the region.

Additionally, Asia Pacific region is envisioned to witness a remarkable growth over the forecast period due to rising terrorism activities in many countries including India, China and Korea coupled with rising expenditure in defense and military sector in this region.

Market Segmentation

Our-in depth analysis of the global military robots market includes the following segments:

By Platform

  • Airborne
  • Land-Based
  • Naval

By Payload

  • Sensor
  • Laser
  • Radar
  • Camera
  • Video Screens
  • Weapons

By Application

  • Warfield Robots
  • Pick n Place Robots
  • Firefighting Robots
  • Metal Detector Robotic Vehicle
  • Voice Controlled Robotic Vehicle

By Region

Global military robots market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East) Market size, Y-O-Y growth & Opportunity Analysis.

Growth Drivers & Challenges

Global military robots market is driven by some of the major factors such as increasing investment in defense & military sectors and technological advancement of military robots. Increasing terrorism activities all over the globe is one of the major factors which has forced all nations to strengthen their military and defense sector which is further anticipated to impel the demand for military robots in defense sector.

In addition to this, military robots have numerous advantages such as lifesaving, firefighting ability and various other advantages.

Demand for military robots is expected to rise in defense sector due to rising need for better cross border surveillance, effectiveness and efficiency in military operations. Further, increasing adoption of drones at soaring pace in defense sector for surveillance proposes is a major factor driving the growth of global military robot market.

Moreover, replacement of frontline human soldiers with humanoid robots is expected to escalate the growth of global military robots in near future.

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However, recent budget cuts in major countries of North America and Europe regions are anticipated to hamper the growth of global military robots market. Moreover, rising skepticism regarding automated weapons systems is likely to dampen the growth of global military robot market in near future.

Key Players

  • Boston Dynamics

o    Company Overview

o    Key Product Offerings

o    Business Strategy

o    SWOT Analysis

o    Financials

  • General Dynamics Corp.
  • Lockheed Martin Corp.
  • Northrop Grumman Corp.
  • Thales Group
  • AeroVironment
  • Clearpath Robotics
  • Boeing
  • Energid Technologies
  • Recon Robotics

Scope & Context

Overview of the Parent Market

Analyst View

Segmentation

The global military robots market is segmented as follows:

  • By Platform Market Size & Y-O-Y Growth Analysis
  • By Payload Market Size & Y-O-Y Growth Analysis
  • By Application Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

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