The global Unmanned Combat Aerial Vehicle Market is estimated to be valued at US$ 148.19 Bn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Unmanned combat aerial vehicles are small, remote-controlled or autonomous aircraft used for combat operations. They can identify, track, and destroy targets while preventing endangering of human pilots. They offer advantages like coverage of large areas to monitor enemy activities, carrying precision-guided air-to-ground missiles, and flexible surveillance to gain real-time battlefield intelligence.
Market key trends:
One of the major trends in the market is the development of sixth generation unmanned combat aerial vehicles which are autonomous, capable of deep learning, artificial intelligence, long endurance and swarm cooperation. For example, Northrop Grumman is developing the Bat drone that uses artificial intelligence to perceive terrain data, detect threats, navigate accordingly and coordinate with other drones. It will also leverage advanced heterogeneous communication abilities to share critical data with other platforms. This new generation of smart drones will significantly transform modern warfare capabilities.
Segment Analysis
The global unmanned combat aerial vehicle market is dominated by vertical take-off and landing (VTOL) segment. VTOL UCAVs are in high demand due to their ability to take off and land vertically without the need for a runway. VTOL UCAVs are capable of operating in confined areas and have seen increased usage in surveillance and reconnaissance missions conducted in mountainous and urban terrains.
Key Takeaways
The Global Unmanned Combat Aerial Vehicle Market Share is expected to witness high growth, exhibiting CAGR of 16% over the forecast period, due to increasing defense spending globally to enhance airborne strike capabilities.
Regional analysis
North America holds the largest share in the unmanned combat aerial vehicle market owing to heavy investments in developing innovative UCAV technologies by countries like the US and Canada. The North American region is expected to continue dominating the market over the forecast period due to rising demand for technologically advanced combat UAVs across major armed forces in the region.
Key players
Key players operating in the unmanned combat aerial vehicle market are Northrop Grumman Corporation, BAE Systems plc, Israel Aerospace Industries Ltd., AeroVironment, Inc., Elbit Systems Ltd., Teledyne FLIR LLC, Raytheon Technologies, Insitu, Inc.,The Boeing Company,General Atomics,Airbus SE,Safran S.A.,Thales Group,mdGroup Germany GmbH,Lockheed Martin Corporation.
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https://www.newsstatix.com/unmanned-combat-aerial-vehicle-market-size-share-growth-outlook-2024/
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