(MENAFN- EIN Presswire) Military Robots Market
By platform, the military robots market is bifurcated into airborne robots, land robots, and marine robots.
PORTLAND, OR, UNITED STATES, March 28, 2023 /einpresswire.com / -- An increase in investments to develop autonomous systems throughout the world and a rise in demand for underwater drones for defense and security applications are expected to drive the military robots market during the forecast period. However, the high cost of military drones and communication problems associated with autonomous underwater vehicles (AUVs) are anticipated to hamper the growth of the market. Moreover, increasing investment for robotics technologies in unmanned ground vehicles and a rise in defense spending globally are expected to offer lucrative opportunities for the market in the future.
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According to a recent report published by Allied Market Research, titled,“Military robots Market by Application, Mode of Operation, and Platform: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global military robots market was valued at $17.55 billion in 2020, and is projected to reach $34.61 billion by 2030, registering a CAGR of 7.4%.
Asia-Pacific dominates the market, in terms of revenue, followed by North America, Europe, and LAMEA. The U.S. dominated the global military robots market share in North America region in 2020, owing to increase in R&D activities, technological developments by big players, rapid adoption of innovative technologies in making reliable, precise, and efficient autonomous systems. North America is expected to grow at a significant rate during the forecast period, owing to rise in adoption of military robots, along with its huge defense spending and the presence of major defense equipment manufacturers such as BAE Systems plc, Northrop Grumman Corporation, Raytheon Technologies Corporation, and others.
Covid-19 scenario of Military Robot Market:
The Covid-19 pandemic forced governments across the world to impose strict lockdown restrictions and ban international import-export on non-essential items. This, sudden fall in availability of raw materials hampered the manufacturing of military robots.
The prolonged lockdown hampered the manufacturing activities due to disruption of the supply chain and lack of workforce.
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By application, the market is categorized into combat support, intelligence, surveillance and reconnaissance (ISR), mine clearance, explosive ordnance disposal (EOD), and others. The combat support segment accounted for the highest revenue in 2020, owing to high demand for a military robot by defense forces to assist in combat operations throughout the globe.
By mode of operation, the global military robots market is bifurcated into human operated and autonomous. The human operated segment accounted for the highest revenue in 2020, owing to the high demand for human operated robots as it involves the unmanned feature and human intelligence capabilities.
By platform, the military robots market is bifurcated into airborne robots, land robots, and marine robots. The land robots segment accounted for the highest revenue in 2020, as they offer high efficiency, lethality and reliability in a combat situation.
Key players operating in the global military robots market include BAE Systems plc, Elbit Systems Ltd., General Dynamics Corporation, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Northrop Grumman Corporation, Rafael Advanced Defense Systems Ltd., Rheinmetall AG, SAAB AB, and Thales Group
Key Findings Of The Study
By application, the combat support segment is expected to register a significant military robots industry growth during the forecast period.
By mode of operation, the autonomous segment is anticipated to exhibit significant growth in future.
By platform, the land robots segment is projected to lead the global military robots market, owing to higher CAGR as compared to airborne and marine robots segment.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
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