According to a new report published by Fortune Business Insights™, titled “Military Robots Market Size, Share & COVID-19 Impact Analysis, By Platform (Airborne, Land, Naval), By Mode of Operation (Semi-Autonomous and Autonomous), By Mode of Propulsion (Manual, Electric, and Hybrid), By Application (Intelligence, Surveillance, and Reconnaissance, Search and Rescue, Combat Support, Transportation, and Others), and Regional Forecast, 2020-2027.”, The global military robots market size is expected to reach USD 25.66 billion by 2027, exhibiting a CAGR of 10.15% during the forecast period. The growing adoption of advanced aerial robots in military operations, including attacking, rescue activities, surveillance, and others will have a tremendous impact on the global market. The market size stood at USD 13.87 billion.
COVID-19 Pandemic: Suspended Deliveries of Military Robots to Restrict Market Growth
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Fortune Business Insights profiles some of the prominent companies operating in the military robots market. They are as follows:
- Northrop Grumman Corporation (The U.S.)
- Thales Group (France)
- FLIR Systems, Inc. (The U.S.)
- Clearpath Robotics Inc. (Canada)
- Cobham Limited (The U.K.)
- QinetiQ (The U.K.)
- AeroVironment, Inc. (The U.S.)
- BAE Systems. (The U.K.)
- Elbit Systems Ltd. (Israel)
- Raytheon Technologies (The U.S.)
The military robots market highpoints:
- An in-depth analysis of the market
- Valuable facts and figures
- Profound data about leading regions
- Latest market development
- Key policies implemented by companies
- COVID-19 impact
Military robot is a human-operated or automated mechanical device used to perform Intelligence, Surveillance and Reconnaissance (ISR) activities on land, water and air. These robots are specifically designed for military functions and are equipped with sensors, video and thermal cameras, microphones, two-way radios, GPS, Light Detection and Ranging (LIDAR) systems, and fiber optics tethers to transform, receive and forward information to various endpoints. They are also used for numerous operations, including search and rescue, combat support, transportation, mine clearance, firefighting, etc.
Key Market Driver:
Combination of Cutting-edge Technologies in Military Robots to Aid Growth
The amalgamation of technologies such as artificial intelligence, real-time data monitoring, and the Internet of Things (IoT) has accelerated the demand for these robots in modern warfare, thus aiding the market. These robots can track, record, and perform required counter-attacks on the targets located far away from the soldiers, hence easily identifying enemies on the ground, sea, or air. The increasing utilization of robots for intelligence, surveillance, and reconnaissance (ISR) activities will bolster the healthy growth of the market. Furthermore, the growing focus of companies towards designing and developing small robots capable of transmitting images and videos to the ground-based station for assisting soldiers to make real-time decisions on battlefields will subsequently augur well for the global military robots market during the forecast period.
Presence of Major Manufacturing Companies to Boost Development in Europe
Europe is expected to experience a rapid growth rate during the forecast period owing to the presence of prominent manufacturers in the region. According to The World Robotics 2019, 700 service robot manufacturing companies are identified across the globe, out of which 307 companies are operating in Europe. The increasing trend for advanced robots with features such as speech and haptics-based human-machine interface, navigation and collision avoidance, motion, and task planning will further propel the growth of the market in Europe. The increasing military expenditure coupled with robust homeland security will have an excellent impact on the military robots market growth in the region.
Geographic Segment Covered in the Report:
- North America (USA and Canada)
• Europe (UK, Germany, France and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• Middle East and Africa (GCC and rest of the Middle East and Africa)
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Key Industry Development:
October 2019: BAE Systems, a British multinational defense, security, and aerospace company developed Robotic Technology Demonstrator (RTD) as a program to showcase the latest in robotic combat systems.
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