Dublin, Aug. 31, 2022 (GLOBE NEWSWIRE) -- The "Military Robots Global Market Report 2022, By Platform, Application, Payload, End User" report has been added to ResearchAndMarkets.com's offering.
The global military robots market is expected grow from $16.88 billion in 2021 to $18.80 billion in 2022 at a compound annual growth rate (CAGR) of 11.4%. The market is expected to reach $26.18 billion in 2026 at a CAGR of 8.6%.
North America was the largest region in military robots market in 2021. North America is expected to be the fastest growing region in the forecast period. The regions covered in the military robots market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The market growth can be attributed to the increasing adoption of land-based military robots by various countries for border security. Border security robots that are based on hybrid wireless sensor networks were introduced to address concerns about national security. The primary objective of the border patrol robots is to save the lives of security personnel deployed for border surveillance. Border patrol systems that utilize the PIR sensor for human detection and a metal detector for explosive detection, can accurately detect the border intrusion with minimum human involvement.
The system also uses a wireless camera to continuously monitor the border. Based on the fact that autonomous military systems can cut down costs, improve effectiveness, enable more broad military operations, and importantly help keep security personnel out of harm, various countries are adopting military robots for border security. The increasing adoption of military robots by various countries, therefore, is expected to drive the military robot market growth.
The decline in the defense budget in developed economies across the globe acts as a restraint for the industry. According to Stockholm International Peace Research Institute (SIPRI), global military expenditure was $1917 billion in 2019. The global military expenditure as a share of GDP represented 2.2 % in 2019. But global defense spending is expected to decline in the coming years due to the economic fallout of the coronavirus pandemic. Also, according to International Monetary Funds (IMF) report, the military expenditure has seen a decline in a significant drop in global military spending as a percent of GDP from 3.6% during the Cold War era (1970-90) to 1.9% in the pre-covid decade. The decline in the defense budget in some developed economies across the globe is expected to hamper the military robot market.
Multi-mission robots are designed to carry out multi-domain operations in the military. Unlike humans, robots do not suffer from physical and mental exhaustion. With continuous advances in electronic component technology and miniaturization, the operational flexibility of robots increased tremendously. They exhibit greater endurance from the impact of bombs and weapons ensuring greater security. Today's robots are equipped with mission-specific tasks and individual munitions. The payloads that these robots carry may be integrated into line with the mission requirements. For instance, 710 Kobra is a heavy-duty, multi-mission robot designed by American robot maker iRobot Defense & Security (now Endeavor Robotics Holdings) to provide increased safety and mission effectiveness for soldiers, first responders, and security personnel.
Scope
Markets Covered:
1) By Platform: Land; Marine; Airborne
2) By Application: ISR; Search and Rescue; Combat Support; Transportation; EOD; Mine Clearance; Firefighting
3) By Payload: Sensors; Cameras; LCD Screens; Weapons; Radar; Others
4) By End User: Armed Forces; Homeland Securities
Key Topics Covered:
1. Executive Summary
2. Military Robots Market Characteristics
3. Military Robots Market Trends And Strategies
4. Impact Of COVID-19 On Military Robots
5. Military Robots Market Size And Growth
6. Military Robots Market Segmentation
7. Military Robots Market Regional And Country Analysis
8. Asia-Pacific Military Robots Market
9. China Military Robots Market
10. India Military Robots Market
11. Japan Military Robots Market
12. Australia Military Robots Market
13. Indonesia Military Robots Market
14. South Korea Military Robots Market
15. Western Europe Military Robots Market
16. UK Military Robots Market
17. Germany Military Robots Market
18. France Military Robots Market
19. Eastern Europe Military Robots Market
20. Russia Military Robots Market
21. North America Military Robots Market
22. USA Military Robots Market
23. South America Military Robots Market
24. Brazil Military Robots Market
25. Middle East Military Robots Market
26. Africa Military Robots Market
27. Military Robots Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Military Robots Market
29. Military Robots Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
- Lockheed Marin Corporation
- Northrup Grumman Corporation
- General Dynamics Corporation
- BAE Systems
- Aerovironment, Inc.
- Irobot
- Boston Dynamics
- Thales Group
- Elbit Systems Ltd.
- Turkish Aerospace Industries Inc.
- QinetiQ
- Cobham PLC
- Saab AB
- Endeavor Robotics
- Qinetiq
- Clearpath Robotics
- Boeing
- Energid Technologies
- Recon Robotics
- FLIR Systems, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/fip5qy
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