Military Security & Defence Market Research News

Military robot market to reach US$ 33.4 billion by 2023

Military Market Research

The Global Military Robot Market is estimated to grow at a CAGR of 11.16% from 2018 to reach USD 33.4 Billion by the year 2023.

GLOBAL MILITARY ROBOT MARKET Make an Inquiry about this news was valued at USD 16.01 Billion in the year 2017. 

North America region holds the highest market share in 2017 and Europe market is considered as the fastest growing market in the forecasted period. At a country level China, Japan and India are projected to grow at a strongly in the coming years.

 

Kongsberg Gruppen (Norway), Lockheed Martin Corporation (U.S.), Northrop Grumman Corporation (U.S.), Lockheed Martin Corporation (U.S.), QinetiQ Group plc., Israel Aerospace Industries Ltd., Saab AB (Sweden), General Dynamics Corporation (U.S.), BAE Systems, Inc. (U.K.), Endeavor Robotics (IRobot), Cobham plc, are some of the key players in the Global Military Robot market.

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Rising research and development expenses to cater to changing demand of end users. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.

Drivers:

             Support Provided By Robots in Battle Operations

Restraints:

             Stringent Technology-Sharing Principles

Opportunities:

             Implementation in Robotic Technology

Challenges:

             Government Grants

The major shares of the market come from Intelligence, Surveillance & Reconnaissance (ISR) in Global Military Robot Market. On the other hand, autonomous type for this market is expected to grow at highest CAGR during the year 2018-2023.

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Key Benefits for Stakeholders

Military Robot Manufacturers, Distributors and Retailers

Research and Consulting Organization

Technology Standards Organizations, Forums, Alliances and Associations

End-use industries

Regulatory bodies, policy actors, and consumers.

By Platform

Land Robots

Marine Robots

Airborne Robots

By Operation

Human Operated

Autonomous

By Application

Intelligence, Surveillance & Reconnaissance (ISR)

Warfield

Search & Rescue

Combat Support

Firefighting

Transportation

Mine Clearance

Explosive Ordnance Disposal (EOD)

Metal Detector Vehicle

Consuming Habit and Preference

Others

By Payload

Sensors

Radar

Video Screen

Cameras

Weapon

By Region

North America

Europe

Asia-Pacific

RoW

Key Market Players

Kongsberg Gruppen (Norway)

Lockheed Martin Corporation (U.S.)

Northrop Grumman Corporation (U.S.)

Lockheed Martin Corporation (U.S.)

QinetiQ Group plc.

Israel Aerospace Industries Ltd.

Saab AB (Sweden)

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News From

Genesis Market InsightsGenesis Market Insights
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