MILITARY ROBOTS MARKET TO REACH USD 50.2 BILLION BY 2027 | CAGR 11.8% — FORENCIS RESEARCH
Global Military Robots Market: Key Highlights
- According to the new market research report “Military Robots Market by Component (Hardware (Sensors, cameras, Motors, Weapons, Others), Software, Services), by Platform (Ground-Based, Airborne, Naval), by Operation Mode (Autonomous, Human-Operated), by Application (Military Transportation, Search and Rescue Operations, Fire Fighting, Mine Clearance, Surveillance and Reconnaissance, Combat Support, Others), By Region (North America, Asia-Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2019 to 2027)”, the global military robots market is estimated to reach USD 50.2 Billion by 2027 at a CAGR of around 11.8% during the review period.
- Military robots is expected to grow at a high growth rate during the forecast period. Military robots are often intended to enhance soldiers’ existing capabilities while keeping them out of harm way as much as possible.
- These robots are commonly used for rescuing wounded soldiers, operating in dangerous situations, and carry heavy military equipment
Global Military Robots Market: Key Market Dynamics
- Increasing popularity of artificial intelligence (AI) and robotics in military applications and growing demand for targeting and advance monitoring in military applications is expected to grow the market during the forecast period
- Moreover, advancement in robotics technology will become an opportunity for the military robots markets during the projected years
- However, the high cost of robots and stringent technology-sharing regulations are expected to restrain the market and low adoption rate in under developing economies can become a challenge for the military robots market during upcoming years
Global Military Robots Market: Regional Overview
- North America
North America is expected to dominate the military robots market during the forecast period, this can be attributed to advancements in robotics and early adoption of AI, machine learning, and other military-related technologies. US market is expected to drive the military robot market in the North America region due to large investment in research and development of robotics and high national security budget. In October 2019, United States Army Research Laboratory (ARL) is upgrading its legged locomotion and movement adaptation (LLAMA) robot to boost its mobility and speed through system weight reduction. The presence of global players such as Lockheed Marin Corporation, Northrup Grumman Corporation, Aerovironment, Inc.(US), and Boston Dynamics is expected to increase the market during the upcoming years.
Europe is expected to grow at a faster rate during the forecast period due to the rapid advancements and adoption of military technologies in this region. The UK, France, Germany, and Russia are expected to drive the market in the European region due to the presence of global players such as Qinetiq, Cobham PLC, and Saab AB among others. An increasing need for border security between European countries and homeland security are expected to drive the market in the European region during the forecast period.
Global Military Robots Market: Key Players Overview
- FLIR Systems, Inc.:
FLIR Systems develops, designs, manufactures and distributes various technologies that enhance awareness and perception. The company offers a diversified portfolio that serves a number of applications in industrial, and commercial applications, and government & defense. In 2019, FLIR Systems Inc. acquired Endeavor Robotic Holdings, Inc., a leading developer of battle-tested, tactical unmanned ground vehicles (UGVs) for the global military, public safety, and critical infrastructure markets. The company provides 7,000 robots to customers in over 55 countries. The company is partnered with the US and international defense forces, energy and industrial users, public safety, and law enforcement to design technologically advanced robots that support a wide range of missions.
- BAE Systems:
BAE Systems engages in the provision of products and services for land, air, and naval forces, security, information technology solutions & support services, and advanced electronics. The company operates through five electronic systems, cyber and intelligence, platforms and services, air, and maritime. In October 2019, BAE Systems launched Robotic Technology Demonstrator (RTD) to represent leap-ahead advancements for unmanned combat vehicles. This technology includes sensors with true 360-degree situational awareness to include long-wave infrared imaging, signal processing, and video distribution.
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