Global Military Robots Market was valued US$ 16.8 Bn in 2017 and is expected to reach US$ 34.6 Bn by 2026, at CAGR of 9.45% during forecast period.
The market for military robotics is massively driven by the rapid increase in demand for robots in every country’s defense forces. Military robots are designed for military applications such as transportation, comprised of search & rescue, mine clearance, and Firefighting. The increased in popularity of artificial intelligence and robotics in military applications is expected to drive the market during the forecast period. Combat robots have become an inherent part of military forces and would replace humans for challenging task that involved dangerous, and mountain areas work.Furthermore, the military robots are programmable depending upon the tasks such as for surveillance to shooting. This benefit of military robots is projected to boost the market during the forecast period.
Based on platform, the land-based robots can perform tasks similar to humans, and this factor has increased the interest among the defense militaries as they can be used in critical situations in order to protect human life. This factor is boosting the growth of the market for military robotics during the forecast period. Also, the government initiative to develop the military powers, such as the U.S. and Russia, have modernized their armed forces and installed weapons using robotics. At the same time, the military robots are multi-tasking robots which can be programmed to perform a wide range of tasks. Because of this fact, the costs involved in procuring these robots are high and they require high maintenance which results in high maintenance costs. This factor acts as a limitation to mass procurement of the military robots for deployment at different locations.
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According to the report the (ISR) Intelligence, Surveillance, and Reconnaissance segment are projected to grow at the highest CAGR during the forecast period. Because of the rise in a number of military robots in the defense sector has improved considerably in the past few years, mainly driven by the high number of new robotic platforms manufactured across the world. These unmanned platforms are looked-for high power weapons and sensors that can be operated remotely and safely. The overall market is driven by the Intelligence, Surveillance, and Reconnaissance (ISR) application segment.
The North America region was leading the military robots market by XX% in 2017. The Europe military robots market is expected to grow at the XX% CAGR during the forecast period. In North America, the largest market for military robots is available in US, due to technological advancements and rising incidences of armed wars against terrorism. The US is one of the main manufacturers and end-users of military robots across the world, due to the threats received by the country and its contribution in the war against terrorism in Syria, Iraq, and Afghanistan. The acceptance of military robots provides greater assistance to the soldier and helps them in various military applications.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the Global Military Robots Market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Military Robots Market.
Scope of Global Military Robots Market:
Global Military Robots Market, By Platform:
• Search and Rescue
• Mine Clearance
• Bomb/Mine Detection
• Homeland Securities
• South America
• Middle East & Africa
• Lockheed Martin Corporation
• Rheinmetall AG
• SAAB AB
• Endeavor Robotics
• General Dynamics Corporation
• Israel Aerospace Industries Ltd.
• Northrop Grumman System Corp.
• General Dynamics Corporation
• BAE Systems, Inc.
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