Selbyville, Delaware, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Global Market Insights, Inc. has recently added a new report on the military robots market which estimates the market valuation for military robots will cross US$ 27 billion by 2027. The rising demand for UGVs for counter-insurgency operations along with growing technological innovations will drive the industry growth.
The outbreak of COVID-19 has shrunk the market for military robots and development opportunities in the field of robotics. Major economies across the world are allocating limited budget to the defense industry and have increased the funding for healthcare services. In 2021, several government organizations will focus on developing and deploying domestically manufactured unmanned aerial, ground, and naval systems to reduce dependencies on foreign market players.
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The ability of military robots to provide professional combat services for defense and homeland security is increasing their penetration in the market. Military robots protect or keep soldiers away from the warzone to reduce casualties during combat operations. Automated military robots are witnessing high growth in the market due to their growing use by various defense agencies and homeland security departments. These robots provide precise location and surveillance in applications including search & rescue, combat, Explosive Ordnance Disposal (EOD), and mine clearance across the globe.
Military robots work on three platforms: aerial, naval, and land-based. Land-based military robots held a high share in the market in 2020. Unmanned Ground Vehicles (UGVs), a combination of advanced processors, computer technology, and AI offer technological competencies to military and defense forces. These robots are used to perform military tasks in place of human soldiers in hazardous, chemical, and biological environments, thus driving the market.
The Asia Pacific military robots market is expected to witness steady growth during 2021 to 2027 driven by China and India owing to increasing defense budgets, rising cross border conflicts, and government partnership with industry players. For instance, in 2019, the U.S. government partnered with the Government of India to develop and deploy small air-launch UAVs for defense applications.
Key players in the market are emphasizing on partnering with government organizations to provide aerial, naval, and land-based military robots and services. Companies are currently focusing on developing fully autonomous unmanned systems that operate on naval and land platforms. The acquisition of small players is another major strategy adopted by companies. In January 2019, FLIR Systems acquired Aeryon Labs, Inc. to expand its product portfolio in unmanned aerial systems.
Some major findings in the military robots market report include:
- Growing defense budgets for unmanned systems by major economies and increasing demand for automated military robots will drive the market during the forecast timeline.
- The Intelligence, Surveillance, and Reconnaissance (ISR) segment is expected to grow at a high rate owing to the need for locating designated targets and identifying objects from longer distances.
- Several industry players in North America and Europe are focusing on partnering with government authorities to provide homeland and border security. Global players present in these regions are concentrating on developing AI-based automated or semi-automated unmanned systems for various military applications such as search & rescue and combat support.
- Key players operating in the military robots market include Lockheed Martin Corporation, Elbit Systems Ltd., Northrop Grumman Corporation, BAE Systems, FLIR Systems, Inc., Raytheon Technologies, IAI, Leonardo S.p.A., Kratos Defense & Security Solutions, Inc., and Boeing.
- Major strategies adopted by market players include partnership with government organizations, acquisition of regional players, investment in the R&D of automated unmanned military robots, new product launches, and product expansion.
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Chapter 2 Executive Summary
2.1 Military robots industry 360° synopsis, 2016 – 2027
2.1.1 Business trends
2.1.2 Platform trends
2.1.3 Mode of operation trends
2.1.4 Application trends
2.1.5 Regional trends
Chapter 3 Industry Insights
3.1 Industry segmentation
3.2 Impact of COVID-19 on military robots industry landscape
3.2.1 Global outlook
3.2.2 Regional impact
3.2.2.1 North America
3.2.2.2 Europe
3.2.2.3 Asia Pacific
3.2.2.4 Latin America
3.2.2.5 MEA
3.2.3 Industry value chain
3.2.3.1 Research & development
3.2.3.2 Manufacturing
3.2.3.3 Marketing
3.2.3.4 Supply
3.2.4 Competitive landscape
3.2.4.1 Strategy
3.2.4.2 Distribution network
3.2.4.3 Business growth
3.3 Industry ecosystem analysis
3.3.1 Component Providers
3.3.2 Technology providers
3.3.3 Manufacturers
3.3.4 Distribution channel analysis
3.3.5 Vendor matrix
3.4 Technology & innovation landscape
3.5 Regulatory landscape
3.5.1 North America
3.5.2 Europe
3.5.3 Asia Pacific
3.5.4 Latin America
3.5.5 MEA
3.6 Defense budget, by country
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.1.1 Increasing government investments in unmanned systems in North America
3.7.1.2 Emerging demand for UGVs for counter insurgency operations in Asia-Pacific
3.7.1.3 Rising adoption of UAVs in Europe
3.7.1.4 Increasing demand of unmanned systems for search & rescue operations in MEA
3.7.1.5 Rising need of automated unmanned systems in Latin America
3.7.2 Industry pitfalls & challenges
3.7.2.1 High cost associated with advanced technologies
3.7.2.2 Lack of advanced visual capabilities in unmanned ground vehicles (UGV)
3.8 Growth potential analysis
3.9 Porter's analysis
3.9.1 Supplier power
3.9.2 Buyer power
3.9.3 Threat of new entrants
3.9.4 Threat of substitutes
3.9.5 Internal rivalry
3.10 PESTEL analysis
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.