Analysis of Covid-19 Impact on Defense Drone Market
The Covid-19 impact on defense drone market demand has been negative. The restrain in the global industrial production due to imposed lockdowns across the globe has disturbed supply chain defense equipment manufacturing industry hindering the growth of defense drone market. Major companies in this sector such as Northrop Grumman Corporation, Lockheed Martin Corporation, and others have experienced a reduction in demand in the defense drone market. These factors are expected to negatively impact the market growth.
The coronavirus epidemic has enforced the companies in the defense drone industry for the adoption of new methods of operation such as implementation of predictive analytics to forecast losses accurately and virtual monitoring of the production. These developments are anticipated to aid in mitigating the impact of COVID-19 pandemic the segment of the global defense drone market growth.
Connect with our Expert Analyst to get more Insights of Defense Drone Market@ https://www.researchdive.com/connect-to-analyst/8512
Global Defense Drone Market Analysis
The increasing threat of terrorist activities is expected to aid the growth of global defense drone market share in the forecast period. As per the “Global Terrorism Index” report, 2020 published by the "Institute for Economics and Peace”, a global think tank headquartered in Sydney, Australia, the total number of deaths from terrorism in 2019, were around 13,826 globally and the global economic impact of terrorism was estimated to be US $26.4 billion in 2019. The data mentioned above reflects the adverse impact of terrorism on the global population and the economy, aiding the need for implementation of security measures across the world. The utilization of defense drones for intelligence, surveillance, reconnaissance, and combat operations can reduce the loss of human lives in armed forces which is anticipated to aid the growth of the market.
However, the complex nature of technology involved in the defense drones, which requires highly skilled workforce with majority of its manufacturers in the developed countries can act as a barrier in the transfer of technology in the developing and underdeveloped regions. These factors are expected to hamper the growth of this market.
The defense drone trends such as new innovations in the field of defense avionics are expected to expand the defense drone market size. For instance, in in July 2021, US based major drone manufacturer, General Atomics Aeronautical Systems (GA-ASI), launched a missile-armed new unmanned combat drone. The drone is being developed as part of a Defense Advanced Research Projects Agency (DARPA) programme called LongShot. It includes major defense companies like Lockheed Martin and Northrop Grumman as industry partners as well. These new developments are anticipated to open new scope of opportunities for the global defense drone market in unmanned warfare domain.
Global Defense Drone Market, Segmentation
The global defense drone market is segmented based on product type, payload, application, range, and region.
Product Type:
The product type segment is further classified into fixed-wing systems, multirotor systems, and others. Among these, the multirotor systems sub-segment is expected to be the fastest and surpass $6,869.4 million by 2028, with an increase from $3,722.4 million in 2020.
The increased emphasis on research and development has led to major developments in the field of defense drones. For instance, in February 2021, the European Commission selected the European Detect and Avoid System (EUDAAS) consortium, with Swedish aerospace and defense company “Saab” as leading partner. The development and detection capability of large military remotely-piloted aircraft systems (RPAS) will be carried out within the “European Defense Industrial Development Programme”. Developments like these are expected to positively impact the growth of this sub-segment
Request FREE PDF Sample of Defense Drone Market@ https://www.researchdive.com/download-sample/8512
Payload:
The payload segment is further classified into small drones, medium drones, and large drones. Among these, small drones sub-segment is anticipated to dominate in the forecast period and surpass $7,901.2 million by 2028, with an increase from $4,376.1 million in 2020.
The effectiveness in surveillance and combat operations at a small scale is expected to aid the growth of small drone’s sub-segment. In recent developments, for instance, in September 2021, the Indian army, signed a pact of over 100 ‘Explosive-Laden Drones’, that will be manufactured by Bengaluru-based firm, Alpha Design-led joint venture (JV) along with Israel’s Elbit Security Systems (ELSEC). The ‘SkyStriker’ drones have a range of about 100km and they are built to operate beyond the line-of-sight ground targets. The contract is estimated to be around Rs 100 crore. These factors are expected to contribute to the growth of this sub-segment in the forecast period.
Application:
Based on application, the market has been sub-segmented into intelligence, surveillance reconnaissance, & target acquisition (ISRT), combat operations, and others. The combat operations sub-segment is projected to be the fastest growing in the global market and register a revenue of $6,556.2 million during the forecast timeframe of 2021-2028.
The increasing utilization of defense drones combat drones for the target identification and threat elimination is expected to aid the growth of this market. in May 2020, American defense manufacturing company, Boeing, launched “Loyal Wingman” combat drone for the Royal Australian Air Force for improvement in the combat capabilities. The drone is semi-autonomous, which means that fighter pilots will not have to remotely control the maneuvers of the drone. These aspects are expected to aid in the growth of the combat drones sub-segment during the forecast period.
Range:
Based on range, the market has been sub-segmented into short range, medium range, and high range. The medium range sub-segment is projected to be the fastest growing in the global market and register a revenue of $6,039.6 million during the forecast timeframe of 2021-2028.
The ability to operate longer range surveillance and combat operations is expected to aid the growth of medium range sub-segment in the forecast period. In new developments, for instance, in February 2021, U. S based, AeroVironment, Inc unmanned aircraft systems, announced it had completed its acquisition of Arcturus UAV, Inc., a leading designer and manufacturer of high-performance unmanned aircraft systems (UAS). The size of the transaction is approximately $405 million. The acquisition has aided the expansion of medium range defense drones to AeroVironment’s portfolio. These aspects are expected to aid in the growth of the medium range sub-segment during the forecast period.
Region:
The defense drone market forecast for the North America region generated a revenue of $3,319.8 million in 2020 and is further projected to reach up to $5,890.3 million by 2028. The North America region is expected to be the dominating region for the defense drone market in the forecast period.
The North American region is the hub of most developed and established framework of national security in the world. The major countries in the North America region such as the USA and Canada are having a high expenditure for the internal security of their countries. For instance, the US security expenditure reached to an estimated $778 billion in 2020, highest in the world as per the "Stockholm International Peace Research Institute (SIPRI). These factors are expected to aid the growth of the defense drone market in the North America region.
Avail 10%OFF on Report Customization of Defense Drone Market@ https://www.researchdive.com/connect-to-analyst/8512
Top 10 Major Key Players in the Global Defense Drone Market are -
- General Atomics Aeronautical Systems, Inc.
- Northrop Grumman Corporation,
- Lockheed Martin Corporation
- Elbit Systems Ltd.,
- Textron Systems,
- AeroVironment, Inc.
- Thales Group
- Boeing
- Israel aerospace industries ltd
- SAAB Group
Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.
About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
Contact:
Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York NY 10005
(P) +91-(788)-802-9103 (India)
+1-(917)-444-1262 (US)
Toll Free: 1-888-961-4454
E-mail: support@researchdive.com
Website: https://www.researchdive.com
Blog: https://www.researchdive.com/blog/
LinkedIn: https://www.linkedin.com/company/research-dive/
Twitter: https://twitter.com/ResearchDive
Facebook: https://www.facebook.com/Research-Dive-1385542314927521
Comments
Post a Comment