LOS ANGELES, March 15, 2021 (GLOBE NEWSWIRE) -- The Global Military Robots Market is expected to grow at a CAGR of around 7.5% from 2020 to 2027 and reach the market value of over US$ 28.1 Bn by 2027.
The global military robots market is segmented on the basis of platform, mode of operation, propulsion, application, and geography. Based on the platform, military robots are functional on land, marine, and airborne platform. By mode of operation, military robots are divided into human-operated, fully autonomous, and semi-autonomous. On the basis of propulsion, the market is bifurcated into electric, mechanical, and hybrid. Additionally, military robots have applications across search & rescue, firefighting, explosive ordnance disposal (EOD), intelligence, surveillance, and reconnaissance (ISR), mine clearance, transportation, combat support, and others.
Airborne military robots are leading the market with a major revenue share (%) owing to their vast usage in the military across the major economies for intelligence, surveillance and reconnaissance (ISR), search and rescue, and combat support. These airborne military robots are available in various ranges like a visual line of sight (VLOS), extended visual line of sight (EVLOS), and beyond line of sight (BLOS). The development of UAVs with advanced payloads particularly for higher durability, improved accuracy, and extended range particularly to detect and track the targets for ground troops is additionally bolstering the regional market value.
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North America accounted for the maximum revenue share in 2019 and the region is also projected to maintain its dominance over the forecast period from 2020 to 2027. The US contributed to the maximum revenue share to the regional market value. The early development and adoption of advanced technology in the regional military are supporting the regional market value.
Asia Pacific is anticipated to experience the fastest growth in the military robots market with a major CAGR (%) over the forecast period from 2020 to 2027. The increasing military budget of the rapidly developing economies of the region is primarily supporting the regional market value. The increasing investments by the governments for the development of advance and more effective robots are additionally bolstering the regional market growth over the forecast timeframe from 2020 to 2027.
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Some of the leading competitors are AeroVironment Inc., BAE Systems PLC, Cobham PLC, Elbit Systems Ltd, FLIR Systems Inc., General Dynamics Corporation, Israel Aerospace Industries Ltd, Lockheed Martin Corporation, Northrop Grumman Corporation, QinetiQ Group PLC, Saab AB, and Thales Group. The major players are also increasing their spending on research and development activities for the development of advanced robots that can meet future requirements.
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Some of the key observations regarding the military robots industry include:
- FLIR Systems, Inc. has received the order for more than 160 Centaur UGVs, as well as related spares and accessories in June 2020, from the US Army and Navy. The company has also received an order of around US$ 40 million from the US Marine Corps for the supply of more than 300 Centaur UGVs and approximately 200 UGVs from US Air Force in March 2020.
- Northrop Grumman Corporation has secured a US$ 333 million contract in June 2020 from the United States Department of Defense (USDOD, DoD, or DOD) for the development, maintenance, and supply of three low-rate initial productions of the MQ-4C Triton unmanned aircraft.
- AeroVironment Inc. has received a US$ 45 million contract in August 2019 from the US Army Security Force Assistance Brigades for the supply of Raven B Unmanned Aircraft Systems. AeroVironment Inc. has also received a US$ 5.25 million contract in 2019, from the US Border Patrol, a part of the US Customs and Border Protection (CBP) forces, for Puma 3 AE (a third-generation UAV).
- Elbit Systems Ltd. was awarded a US$ 153 million contract in October 2019 for an undisclosed customer to provide a networked multi-layered UAS (Unmanned Aerial System) array customer in Southeast Asia, through 2021. The contract is likely to include the supply of over 1,000 THOR Multi-Rotor Vertical Takeoff and Landing (VTOL) mini-UAS, Skylark 3, Skylark LEX, and Hermes 450 tactical UAS, among others.
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