Global Defense Drone Market Report 2024: Growth Rate, Major Segments And RegionsPosted by Ramakrishna TBRC on March 7th, 2024 The Defense Drone Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033). Learn More On The Defense Drone Market: According to The Business Research Company’s Defense Drone Global Market Report 2024, The defense drone market size has grown strongly in recent years. It will grow from .24 billion in 2023 to .15 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to rising security concerns, military modernization programs, border security and surveillance, counterterrorism operations, advancements in unmanned systems. The defense drone market size is expected to see strong growth in the next few years. It will grow to .33 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to geopolitical tensions and threats, focus on maritime domain awareness, counter-drone technology development, military procurement programs, integration with command and control systems. Major trends in the forecast period include counter-drone technologies, dual-use applications, collaborations and alliances, regulatory framework development, environmental sustainability. The increasing defense expenditure is expected to propel the growth of the defense drone market going forward. Defense expenditure includes all current and capital expenditures on the armed forces, including peacekeeping troops of defense ministries and other government organizations involved in defense initiatives, paramilitary forces, and military activities. Defense drones are widely used in military operations due to their flexibility, minimal crew engagement, and lower manufacturing and maintenance costs. For instance, in April 2022, according to a report published by the Stockholm International Peace Research Institute (SIPRI), a Sweden-based independent international organization that conducts research into conflict, armaments, and disarmament, the global defense expenditure increased by 0.7% in 2021, to ,113 billion. Therefore, the rise in defense expenditure is driving the demand for the defense drone market. Get A Free Sample Of The Report (Includes Graphs And Tables): The defense drone market covered in this report is segmented – Major companies operating in the defense drone market are undergoing strategic collaborations for developing innovative solutions to strengthen their position in the market. Strategic collaborations in the defense drone market accelerate innovation, optimize resources, mitigate risks, and enhance capabilities, fostering industry growth and competitiveness. For instance, in November 2022, Dedrone, a US-based manufacturer of counter-drone and counter-unmanned aerial system technology, and Johnson Controls PLC, an Ireland-based multinational conglomerate, Collaborate to Deliver AI/ML-Powered Airspace Security Worldwide. The partnership involves incorporating Dedrone's software and sensors into Johnson Controls' security offerings, creating a comprehensive airspace security solution. Johnson Controls' products will integrate Dedrone's AI/ML counter-drone technology, delivering cloud-based airspace security as a service globally. This collaboration empowers security industry leaders to safeguard diverse environments, from critical infrastructure to sports stadiums and events. The defense drone market report table of contents includes: Contact Us: Like it? Share it! More by this author |