Global Loitering Munition Market Size to Reach USD 4.10 Billion in 2032 | Emergen Research

Vancouver, Oct. 17, 2023 (GLOBE NEWSWIRE) -- The global loitering munition market size was USD 1.09 Billion in 2022 and is expected to register a revenue CAGR of 14.2% during the forecast period, according to the latest analysis by Emergen Research. Rising demand for advanced military warfare systems, rising demand for precise, efficient, and cost-effective military capabilities, increase in military friendly fire incidents, and rise in geopolitical tensions and conflicts are some of the major factors driving the market revenue growth.

Loitering munitions are low-cost guided precision munitions that are flown in a holding pattern for a lengthy period of time and quickly attack land or sea targets away from the user's line of sight. At a relatively modest cost, these unmanned aerial vehicles carrying a warhead are increasingly used to target things such as tanks, military hardware, and soldiers. This invention is quickly transforming the battlefield and making ready-made air power available to non-state actors and nations with little financial resources. Modern warfare has seen an increase in the use of loitering weapons, often known as kamikaze drones, particularly in conflicts including the one in the Ukraine where they have been successfully used to destroy military hardware and other targets., which is driving revenue growth of the market.

The development of this industry is being fueled by some of the major technological advances that are having an impact on loitering munitions, such as Artificial Intelligence (AI) and Swarm technology. Some lingering weapons, such as Kronshtadt's Molniya, have the ability to act in swarms. The usage of swarm technology enables munitions to perform a wider range of tasks and to replace alternative options in certain situations.  AI is a crucial symbiotic technology since it helps the system become autonomous. The AI built into the system is essential to its ability to recognize targets, determine attack and attack profiles, and wave off attacks. In particular, large-scale deployment calls for AI for swarm technology.

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One of the major challenges restraining revenue growth of the market is concerns regarding surrounding false alarm rates and inaccuracy. The use of loitering munitions in a safe and effective manner on the battlefield is fraught with difficulties. First off, a suicidal flying weapon without human control raises questions about accountability in relation to International Humanitarian Law (IHL) and rules of armed conflict.

These weapons will provide significant security and accountability challenges, particularly in the hands of aggressive non-state actors. In addition, lingering munitions rely on AI algorithms, which can occasionally make mistakes or have technical limitations. These flaws cause errors in judgment that can result in combat situations when blue-on-blue events, collateral damage, and unintended target engagement occur, which is restraining revenue growth of the market.

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Scope of Research

Major Companies and Competitive Landscape

The global loitering munitions market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective loitering munitions solutions. Some major players included in the global loitering munitions market report are:

• AeroVironment, Inc
• WB GROUP.
• Elbit Systems Ltd.
• AEROSPACE CH UAV CO., LTD.
• Anduril Industries
• KWESST.
• UVision
• ISRAEL AEROSPACE INDUSTRIES LTD
• ZALA Aero Group
• Rheinmetall AG

Strategic Development

• On 21 July 2023, CH UAV, a Chinese company, announced the development of a new type of super-long-range loitering munition with a variety of unique functions.
•  A type of loitering munition product based on the technology of the AR air-to-ground missile series is being developed by Aerospace CH UAV Co Ltd. It is capable of carrying out tasks including battlefield communications relay, radar interference and suppression, targeted precision strikes against time-sensitive targets, and battle damage assessment.
• On 16 May 2023, The Hellenic Defence System (EAS) and Paramount Industries Greece have created a strategic cooperation to coproduce the IRIX loitering munition. As part of the agreement, innovative long-range loitering munitions will be produced in Greece for both domestic use and future export to foreign markets. The partnership will also make it possible to pass IRIX manufacturing expertise to EAS and promote their participation in R&D for upcoming system updates, improving defense capabilities and generating employment.
• On 6 October 2022, Anduril Industries developed a loitering munition capability for its ALTIUS 600M and 700M platforms, which are market leaders Both the 600M and 700M are made to be versatile and adaptable, and both can handle a variety of seeker and warhead combinations, with the 700M having the capacity to transport warheads that weigh up to 35 pounds. Both models are extremely versatile and adaptable due to their Modular Open Systems Approach (MOSA) design, which is a defining feature of most Anduril platforms.

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Some Key Highlights From the Report

• The autonomous identification and positioning loitering munition accounted for largest revenue share in 2022. Autonomous loitering munitions are missiles that can remain in the air for a while before locating a target and attacking it. These weapons are a test-bed for utilizing weapons on a battlefield without human control as they increasingly combine autonomous capabilities. Many kamikaze drones have ability to independently return to the launch position for reuse, which reduces costs. Advances in communications, computing, processing, and miniaturized sensors have allowed loitering munitions to now perform a variety of military tasks that were previously performed by crewed aircraft or artillery. These weapons are a test-bed for utilizing weapons on a battlefield without human control as they increasingly combine autonomous capabilities. These weapons are a test-bed for utilizing weapons on a battlefield without human control as they increasingly combine autonomous capabilities. Major market companies are therefore launching autonomous identification and positioning loitering munition, which is expected to drive revenue growth of the market.
• The land segment is expected to register a steady revenue CAGR during the forecast period. Land combat-proven loitering munition offers an operational answer for a variety of low and high-intensity conflict scenarios, as well as anti-terrorism action, and is specifically built for ground forces operating in difficult conditions. This level of strategic competence opens up a new set of operational possibilities for the land-forces battlefield, which was previously only possible through intricate coordination between various units and echelons. These are some of the major factors driving revenue growth of this segment. This system can engage with hostile platforms in a matter of minutes and be deployed vertically from land platforms. It offers a range of advantages for defense technology systems in terms of price and performance. It performs effective and dissuasive actions against undersea adversary elements. These are the major factors that are contributing to revenue growth of this segment.

• The North America market accounted for a significantly large revenue share in 2022. The loitering munition market is growing in this region, growing number of strategic initiatives and funding in the field of loitering munitions, as well as rising demand and adoption of loitering munitions platforms for military activities and defense purposes, especially in the U.S., which has resulted in continued revenue growth of the market. For instance, on 12 June 2023, UVision USA, the U.S. subsidiary of UVision Air, a global leader in aerial loitering systems, announced the successful launch of its Hero 120 loitering munition systems from an airborne helicopter in partnership with Axxeum, a full-service aviation integration facility. UVision USA and Axxeum working together allowed for the launch to be successful. Axxeum carried out all structural and load analyses, created safe flying envelopes, and operated Axxeum's Bell 412 helicopter in addition to designing a fully mechanical docking mechanism for the single canister launcher. Without integrating with the electrical systems or flight controls of the helicopter, electrically-triggered launches are now possible thanks to accurate modeling and integration, which has resulted in continued revenue growth of the market.

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Emergen Research has segmented global loitering munition market on the basis of type, type of encryption algorithm, platform, end-use, and region:

• Type Outlook (Revenue, USD Billion; 2019-2032)
  • Autonomous Identification and Positioning Loitering Munition System
  • Manual Positioning Loitering Munition System
• Range Outlook (Revenue, USD Billion; 2019-2032)
  • Short-Range
  • Medium-Range
  • Long-Range
• Platform Outlook (Revenue, USD Billion; 2019-2032)
  • Land/Ground
  • Air
  • Naval
• Regional Outlook (Revenue, USD Billion; 2019-2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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