The global military UAV market is expected to grow at a CAGR of 4.32% over the forecast period. The market consists of six categories: UCAV, HALE, MALE, TUAV, VTOL-UAV, and MUAV. It is expected to be dominated by the UCAV, followed by HALE UAV and MALE UAV. The North American region is forecasted to dominate the sector with a share of 34.4%, and the Asia-Pacific market is dominated by China, India, and Australia. Russia and the UK occupies a major market share in the European region.
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The global military UAV market will be driven by internal and external security threats, territorial disputes, and modernization initiatives undertaken by armed forces across the world. Significant UAV customers include countries in the North American and Asia Pacific region, and the global UAV market will be dominated by the US throughout the forecast period. Asia Pacific’s share of the global UAV market is also projected to increase, largely due to a number of international territorial conflicts and insurgency issues.
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