Market Is Estimated To Witness High Growth Owing To Increasing...

Market Is Estimated To Witness High Growth Owing To Increasing Demand From Defense Sector & Emerging Applications In Commercial Sectors

Posted 2023-10-31 12:29:57

The unmanned combat aerial vehicle market is estimated to be valued at US$ 12.5 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Unmanned combat aerial vehicles, also known as combat drones, are powered aerial vehicles that do not have a human pilot onboard. They are primarily used for military operations such as surveillance, target acquisition, and precision weapons delivery. Modern unmanned combat aerial vehicles have high-resolution cameras, sensors for intelligence gathering, and can be remotely controlled or fly autonomously using radar and GPS for navigation. They provide tactical advantages over manned aircraft by extending the operational capabilities of armed forces.

Market Dynamics:
The demand for unmanned combat aerial vehicles is growing from defense sectors globally as they provide militaries with cost-effective solutions for surveillance and combat. They eliminate the risk of human casualties during warfare and enable armed forces to monitor hostile regions from a safe distance. Additionally, emerging applications of these drones in commercial industries such as agriculture, infrastructure monitoring, and filmmaking are creating new revenue streams for manufacturers. However, the development of jamming and interception technologies by adversaries poses a challenges for unmanned aerial vehicles. Ongoing R&D for autonomous navigation and cybersecurity will help mitigate these threats and support the market growth over the forecast period.