Product Code: RP-ID-10000069 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: ICT & Telecom |
Report ID: 10000069
Market Overview:
Military Robots Market : Global Demand Analysis & Opportunity Outlook 2024
Global military robots market reached more than USD 1 Billion in terms of value in 2016 and is expected to grow significantly the end of 2024, expanding at a CAGR of 9.0% over the forecast period i.e. 2017-2024. Moreover, the growth of military robots market is attributed to the increased terrorism attacks and growing tension between neighboring countries across the globe especially in Iraq, Afghanistan, Pakistan, Syria, India, and
other countries. North America is slated to account for a leading share of 38% in the terms of revenue by 2024 in the military robots market. The growth in the region is anticipated to be fostered by the increasing military expenditure to strengthen the army. Besides, positive GDP growth coupled with advancement in military robots is also expected to impel the growth of military robots market in the North America region. Likely, U.S. and Canada are the prominent
market in the region.
Global military robots market is segmented on the basis of Platform into airborne, land-based and naval. Airborne (45% share in 2016) occupies the largest market of military robots across the globe. Further, global airborne military robots market is anticipated to reach USD 1,136.7 Million by the end of 2024 from more than USD 5 Million in 2016. In addition to this, global military robots market is segmented into payload and application. The payload segment is further segmented into sensors, weapon, radar, camera, video screens and others, out of which, sensors segment with 35% market share is anticipated to have largest share by the end of 2024. Further, global sensors military robots market is anticipated to reach more than USD 900 Million by the end of 2024 In addition to this, global sensors military robots market is expected to achieve Y-o-Y growth rate of 10% in 2024 as
compared to previous year.
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