Impact of COVID-19: Military Robots Market is Projected to Reach a Value of Over USD 50.2 Billion by 2027
The Global Military Robots Market is projected to reach a value of over USD 50.2 billion by 2027 at a CAGR of around 11.8%.
The robotic revolution is more evident in defense and the public safety industry. Military robots are designed perform into dirty, dangerous, and repetitive workplace where humans cannot give up on the mark results. These robots are designed for search & rescue operations, transportation, fire fighting, mine clearance, and surveillance applications. The military robots are technologically advanced and consist of various wireless technologies such as global positioning system (GPS), hardware components such as sensors, cameras, weapons, and software to operate the robot. Northrup Grumman Corporation, QinetiQ, AeroVironment, Inc., Lockheed Martin Corporation, BAE Systems, and FLIR Systems, Inc are some of the key players in the military robot market.
Military Robots Market: Driver & Restraints
Market Driver:
Increasing Popularity of Artificial Intelligence (AI) and Robotics in Military Applications
Artificial Intelligence (AI) is a rapidly growing field of technology and significantly important for national security. Currently, many nations are developing AI applications for a wide range of military applications. Moreover, AI technology improves self-regulation, self-control, and self-actuation of combat systems. In past years, the use of robots for military applications are increasing. These robots enhance the soldiers existing capabilities while keeping them out of danger as much as possible. The operations such as carry heavy equipment, operating in dangerous situations, and rescuing wounded soldiers in combat zones are expected to increase the robotics market in military applications. Hence, increasing the need for AI and robotics in military applications is expected to drive the market during the projected years.
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Market Restraints:
High Cost of the Robots
With the implementation of new technologies such as AI, machine learning, and GPS in robotics, hardware components such as sensors, cameras connected with the software will increase the cost of the robots which is expected to hinder the growth of the market during the forecast period. Hence, underdeveloped countries or economies cannot afford the cost of the robots and robotics end-use products due to a low national security budget which is expected to hamper the growth of the market during the forecast period.
Military Robots Market: Key Segments
- Based on component: Hardware, Software, and Services
- Based on platform: Ground-Based, Airborne, and Naval
- Based on operation mode: Autonomous and Human-Operated
- Based on application: Military Transportation, Search and Rescue Operations, Fire Fighting, Mine Clearance, Surveillance and Reconnaissance, Combat Support, and Others
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.
Military Robots Market: Report Scope
The report on the military robots market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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List of the leading companies operating in the Military Robots Market include:
- AeroVironment, Inc. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Boston Dynamics
- BAE Systems
- Cobham Limited
- Elbit Systems Ltd.
- FLIR Systems, Inc.
- Northrop Grumman Corporation.
- Lockheed Martin Corporation
- QinetiQ
- Saab AB
- Other Key Companies
Military Robots Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Military Robots Market, by Component
- Hardware
- Sensors
- Cameras
- Motors
- Weapons
- Others
- Software
- Services
Military Robots Market, by Platform
- Ground-Based
- Airborne
- Naval
Military Robots Market, by Operation Mode
- Autonomous
- Human-Operated
Military Robots Market, by Application
- Military Transportation
- Search and Rescue Operations
- Fire Fighting
- Mine Clearance
- Surveillance and Reconnaissance
- Combat Support
- Others
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Military Robots Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
KEY QUESTIONS ANSWERED BY THE REPORT
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
Table of Content
- INTRODUCTION
- RESEARCH DESIGN & SCOPE
- EXECUTIVE SUMMARY
- MARKET DYNAMICS
- INDUSTRY TRENDS — PORTERS FIVE FORCES ANALYSIS
- GLOBAL MILITARY ROBOTS BY COMPONENT, Market Size in USD Million (2019–2027)
- GLOBAL MILITARY ROBOTS BY PLATFORM, Market Size in USD Million (2019–2027)
- GLOBAL MILITARY ROBOTS BY OPERATION MODE, Market Size in USD Million (2019–2027)
- GLOBAL MILITARY ROBOTS BY APPLICATION, Market Size in USD Million (2019–2027)
- GLOBAL MILITARY ROBOTS BY REGION, Market Size in USD Million (2019–2027)
- COMPETITIVE LANDSCAPE
- COMPANY PROFILES
- APPENDIX
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