New York, Aug. 14, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Combat Drone Market by Platform Application, Type, Launching Mode and Region – Forecast to 2028” – https://www.reportlinker.com/p06485044/?utm_source=GNW
Several countries worldwide are undertaking R&D programs to explore and augment the applications of combat drones. Moreover, Combat drones exhibit extreme efficiency and potential during low-altitude flights. They are increasingly being utilized in military applications to perform various tasks in hostile territories. They are used during conflicts as well as in peacetimes to mitigate the risks to the lives of pilots and to enhance the aeronautical capabilities of defense forces. Combat drones are widely accepted by the defense sector worldwide, owing to their limited operational costs in comparison to manned aircraft and the benefits offered by them.
The increasing budgetary constraints, coupled with a decline in the recruitment of defense personnel and equipment by the US and European countries, have led to the requirement for developing cost-effective defense equipment to carry out several military missions.Continuously changing modern warfare techniques require conducting critical missions in populated areas using combat drones.
Moreover, the availability of advanced navigation as well as satellite communication technologies has led to highly viable remote operations being conducted by these drones.Combat drones can reduce collateral damage while hovering, searching, and identifying targets, which makes them an invaluable asset to the military sector.
Besides, companies operating in the combat drone market are focusing on improving the technological capabilities of these drones.
Based on the platform, the strategic segment is to grow at a higher market share during the forecast period.
Based on the platform, the combat drone market has been classified into small, tactical, and strategic drones.The strategic drone segment is to grow at a higher CAGR during the forecast period.
The strategic segment held the majority share of the market in 2022 and is estimated to hold its dominance during the forecast period owing to the high price of HALE and MALE drone platforms.
Based on application, the lethal segment is to grow at the highest market share during the forecast period.
Based on the application segment, the combat drone market has been classified into lethal, stealth, loitering munition, and target drone.The loitering segment is to grow at the highest CAGR during the forecast period.
Lethal drones or lethal autonomous weapons are autonomous military systems that can individually search for targets and destroy them based on programmed limitations and descriptions.A loitering munition drone can be described as an advanced, autonomous drone equipped with explosive payloads designed to loiter or hover over a designated area for an extended period.
The loitering munition segment is further sub-segmented into recoverable and expendables.
North America is expected to hold the highest market share.
North America is projected to lead the combat drone market in 2023.The US is the largest market for combat drone market in North America.
North America is a politically stable region owing to the stable governments of countries in the region.The US and Canada have good business relations and are home to some key players operating in the combat drone market.
North America has been at the forefront of the technological revolution taking place globally.Canada and the US are pioneers in science and technology.
Drones have been used for a long time in defense and commercial sectors worldwide. Since the beginning, the region has been a leader in technological advancements. Though North America faced competition from some other developed and developing regions, it continues to retain its supremacy in the technological field.
The break-up of the profile of primary participants in the Combat Drone market:
• By Company Type: Tier 1 – 32%, Tier 2 – 40%, and Tier 3 – 28%
• By Designation: C Level – 35%, Director Level – 25%, and Others – 40%
• By Region: North America – 40%, Europe – 21%, Asia Pacific – 29%, Middle East & Africa –5%, Latin America–5%
The major players in the Combat Drone market mainly resorted to contracts to drive their growth.They also entered new markets by launching technologically advanced and cost-effective products.
Northrop Grumman (US), General Atomics Aeronautical Systems (US), Raytheon Technologies (US), Israel Aerospace Industries Inc. (Israel), and Airbus (Netherlands) are some of the leading players in the market. An increase in the demand for advanced Public Safety Drone products and the growth of emerging markets have encouraged companies to enter new regions.
This market study covers the combat drone market across various segments and subsegments.It aims at estimating the size and growth potential of this market across different segments based on platform, application, type, launching mode, and region.
This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Combat Drone market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers and there are several factors that could contribute to an increase in the Combat Drone market.
• Market Penetration: Comprehensive information on Combat Drone systems offered by the top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Combat Drone market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the Combat Drone market across varied regions
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Combat Drone market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players in the Combat Drone market.
Read the full report: https://www.reportlinker.com/p06485044/?utm_source=GNW
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.