Military Robots Market

Military Robots Market Size, Share, Growth Analysis, By Type(Land, Marine), By Platforms(Land, Robots (Wheeled), By System(Land, (Payloads (Sensors), By Deployment method(Land, (Hand-Tossed), By Range(Land, (< 1 KM), By End use(Intelligence, Surveillance), By Mode of Operation(Human Operated (Tethered, Untethered)), By Propulsion(Electric, Mechanical) - Industry Forecast 2024-2031

Report ID: SQMIG45I2159 | Region: Global | Published Date: July, 2001
Pages: 157 | Tables: 311 | Figures: 81

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Military Robots Market size was valued at USD 19.08 billion in 2019 and is poised to grow from USD 20.63 billion in 2023 to USD 38.79 billion by 2031, growing at a CAGR of 8.2% in the forecast period (2024-2031).

The Military robots market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective. 'Lockheed Martin Corporation', 'General Dynamics Corporation', 'BAE Systems plc', 'Northrop Grumman Corporation', 'Boeing Company', 'iRobot Corporation', 'QinetiQ Group plc', 'AeroVironment, Inc.', 'SAAB AB', 'Elbit Systems Ltd.', 'Boston Dynamics, Inc.', 'FLIR Systems, Inc.', 'Raytheon Company', 'Turkish Aerospace Industries Inc.', 'Leonardo S.p.A.', 'Rheinmetall AG', 'Thales Group', 'Textron Inc.', 'Kongsberg Gruppen ASA', 'Roboteam Ltd'

The convergence of technologies such as artificial intelligence, real-time data monitoring, and the Internet of Things (IoT) has increased demand for military robots in modern warfare, thereby assisting the market.

Expanding Human Augmentation and Robotics to Aid Growth: The growing trend of combining humans and robots on the battlefield is expected to accelerate the development of unmanned military systems. Robots can perform tasks more quickly and precisely, reducing the number of casualties during the war. For example, the Australian military introduced killer robots in November 2019 to protect and defend its armed forces from enemies. Furthermore, the development of multi-mission robots may have an impact on the military robot’s market share. These robots are linked to the miniaturization of electronic components, as well as other explosive elements and weapons. The use of robots in conjunction with advanced electronic components allows military personnel to make tactical decisions during combat.

Based on region military robots market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa. The European Military robots market is expected to grow at the fastest CAGR during the forecast period. Russia, Germany, the United Kingdom, Italy, France, and the rest of Europe are all examined in this regional market study (Sweden, Norway, Denmark, and so on). One of the most important growth drivers for the European military robot industry is the increased use of unmanned aerial vehicles (UAVs) for surveillance. As a result of the COVID-19 crisis, many countries have agreed to reduce their total defence budgets. According to industry analysts, defence departments will focus more on sectors of high value to national security, while budgets for research and non-critical sectors will be reduced temporarily. Unlike other countries, some European countries have increased their projected defence spending during this period.

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