Military Robots Global Market Report 2023
, /PRNewswire/ — Major players in the military robots market are Lockheed Marin Corporation, Northrup Grumman Corporation, General Dynamics Corporation, BAE Systems, Aerovironment, Inc, Irobot, Boston Dynamics, Thales Group, Elbit Systems Ltd, and Turkish Aerospace Industries Inc.
Read the full report: https://www.reportlinker.com/p06240600/?utm_source=PRN
The global military robots market will grow from $18.8 billion in 2022 to $20.39 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia–Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The military robots market is expected to grow from $28.42 billion in 2027 at a CAGR of 8.7%.
The military robots market consists of sales of military robots such as military transportation robots, search and rescue military robots, firefighting military robots, and mine clearance military robots.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The military robots refer to robots specially designed for military applications. These are remotely controlled military robots for tasks such as transport, search, rescue, gunfire or attack, airborne and underwater surveillance, image capturing, bomb disposal, carrying wounded military personnel, and detecting mines.
North America was the largest region in military robots market in 2022.North America is expected to be the fastest growing region in the forecast period.
The regions covered in the military robots market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The main platforms in military robotics are land, marine, and airborne.Unmanned Ground Vehicles (UGVs) are the common name for land or home robots (UGVs).
Wheeled or tracked robots are the most frequent, but footed robots with two or more legs are also prevalent (humanoid or resembling animals or insects).The different payloads include sensors, cameras, LCD screens, weapons, radar, and others and are used in ISR, search and rescue, combat support, transportation, EOD, mine clearance, and firefighting.
The various sectors include the armed forces and homeland security.
The market growth can be attributed to the increasing adoption of land-based military robots by various countries for border security.Border security robots that are based on hybrid wireless sensor networks were introduced to address concerns about national security.
The primary objective of the border patrol robots is to save the lives of security personnel deployed for border surveillance.Border patrol systems that utilize the PIR sensor for human detection and a metal detector for explosive detection can accurately detect border intrusions with minimum human involvement.
The system also uses a wireless camera to continuously monitor the border.Based on the fact that autonomous military systems can cut down costs, improve effectiveness, enable more broad military operations, and most importantly, help keep security personnel out of harm, various countries are adopting military robots for border security.
The increasing adoption of military robots by various countries, therefore, is expected to drive the military robot market growth.
The decline in the defense budget in developed economies across the globe acts as a restraint on the industry. For instance, in April 2022, according to the Stockholm International Peace Research Institute (SIPRI), a Sweden-based international research institute on arms control, arms transfers and non-proliferation, the global military burden—defined as global military spending as a share of global gross domestic product (GDP)—fell by 0.1 percentage points, from 2.3% in 2020 to 2.24% in 2021, as a result of a sharp economic recovery. US military expenditures totalled $801 billion in 2021, a 1.4% decrease from 2020. The cost of the US military decreased slightly from 3.7% of GDP in 2020 to 3.5% in 2021. The decline in the defense budget in some developed economies across the globe is expected to hamper the military robot market.
Multi-mission robots are designed to carry out multi-domain operations in the military.Unlike humans, robots do not suffer from physical and mental exhaustion.
With continuous advances in electronic component technology and miniaturization, the operational flexibility of robots has increased tremendously.They exhibit greater resistance to the impact of bombs and weapons, ensuring greater security.
Today’s robots are equipped with mission-specific tasks and individual munitions.The payloads that these robots carry may be integrated in line with the mission requirements.
For instance, the 710 Kobra is a heavy-duty, multi-mission robot designed by American robot maker iRobot Defense & Security (now Endeavor Robotics Holdings) to provide increased safety and mission effectiveness for soldiers, first responders, and security personnel.
In April 2020, Draganfly Inc., a Canada-based manufacturer of drone and UAV technologies, acquired Dronelogics Systems Inc. for USD 1.74 million. With the acquisition, the two businesses are expected to diversify their drone manufacturing technology. The product offerings and engineering advancements of Draganfly are perfectly complemented by Dronelogics. Together, the businesses would strengthen their position as market leaders in the global UAV and UVS sectors while offering specialized services to their mutual clients and business associates. Dronelogics Systems Inc. is a Canada-based company that sells drones, creates specialized solutions, provides customer training and business consultation for SFOC and UAV use.
The countries covered in the military robots market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The military robots market research report is one of a series of new reports that provides military robots market statistics, including global market size, regional shares, competitors with a military robots market share, detailed military robots market segments, market trends and opportunities, and any further data you may need to thrive in the military robots industry. This military robotics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
Read the full report: https://www.reportlinker.com/p06240600/?utm_source=PRN
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.
Contact Clare: email@example.com
Intl: +1 339-368-6001
View original content to download multimedia:https://www.prnewswire.com/news-releases/military-robots-global-market-report-2023-301749623.html