The government of various nations is continuously investing in automation technology for surveillance services by adopting military robots to strengthen their defense power as they play a very important role in strengthening the security at national borders, surveillance in sky, water and on ground along with performing dangerous military tasks which are very difficult for a human soldier to perform. To secure the life of human soldiers, military is replacing them with military robots which are believed to expand the global military robots market by reaching USD 2,571.8 Million by the end of 2024, soaring its way up from USD 1,300.4 Million in 2016. Further, the market of military robots is predicted to witness CAGR of 9.0% between the years 2017-2024.
The global military robots market is divided by payload into sensor, weapon, radar, camera, video screens and others. Among these segments, the highest revenue generating segment was airborne which is believed to behold its dominance over the forecast period while achieving Y-o-Y growth rate of 10.4% in 2024. Further, the sensor segment, weapon, radar and camera segment are predicted to grow significantly over the next 6-7 years, out of which, the weapon segment is predicted to expand with highest CAGR of 11.5% during the forecast period. Besides, the video screen segment is projected to capture 5.5% market share in 2024.
Growing Acceptance of Advanced Technology in Defense Sectorto Escalate the Demand for Military Robots in Future
The global military robots market is driven by the increasing terrorism attacks all over the globe.
Growing Adoption of Innovative and Advanced Robotics–Governments of many countries are highly investing in development of advanced technologies such as artificial intelligence (AI) and Nano robotics to increase their applications for the defense sector.
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Rising Terrorism Activities– Increasing terrorism attacks is driving the governments from all across the globe to invest high capital to adopt advanced military robots to enhance their defense power at international borders.
Growing Number of Death in Warfield–The replacement of human soldiers with military robots is predicted to fuel the growth of the global military robots market in upcoming years.
Industry Players’ are Progressing towards Minimizing the Barriers faced by the Global Military RobotsMarket
According to Research Nester, lack of ability to choose target between enemy and civilians is limiting the use of combat military robots.
Threat of Hacking of Robots – There is a threat associated with the hacking and capturing of military robots that could be misused by the hackers.
Lack of Technological Maturity–The lack of technological maturity, limited ability of decision making and high investment cost required for the manufacturing of military robots are expected to negatively impact the growth of global military robots market.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players ofthe global military robots market which includes company profiling ofNorthrop Grumman Corp., Thales Group, AeroVironment Inc., Boeing, ReconRobotics Inc., General Dynamics Corp., Lockheed Martin Corp., Boston Dynamics and Clearpath Robotics Inc.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global military robots market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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