The global militaryrobots market size is expected to reach USD 25.66 billion by 2027,exhibiting a CAGR of 10.15% during the forecast period. The growing adoption ofadvanced aerial robots in military operations, including attacking, rescueactivities, surveillance, and others will have a tremendous impact on theglobal market, states Fortune Business Insights, in a report, titled “MilitaryRobots Market Size, Share & COVID-19 Impact Analysis, By Platform(Airborne, Land, Naval), By Mode of Operation (Semi-Autonomous and Autonomous),By Mode of Propulsion (Manual, Electric, and Hybrid), By Application(Intelligence, Surveillance, and Reconnaissance, Search and Rescue, CombatSupport, Transportation, and Others), and Regional Forecast, 2020-2027.” Themarket size stood at USD 13.87 billion.
The entire world is fighting with the COVID-19 pandemic, which has severelydisrupted trades across the globe. The authorities of several countries haveinitiated lockdown to prevent the spread of this deadly virus. Such plans havecaused disturbances in the production and supply chain. But, with time andresolution, we will be able to combat this stern time and get back tonormality. Our well-revised reports will help companies to receive in-depthinformation about the present scenario of every market so that you can adoptthe necessary strategies accordingly.
Key Market Driver:
Combination of Cutting-edge Technologies in Military Robots to AidGrowth
The amalgamation of technologies such as artificial intelligence, real-timedata monitoring, and the Internet of Things (IoT) has accelerated the demandfor these robots in modern warfare, thus aiding the market. These robots cantrack, record, and perform required counter-attacks on the targets located faraway from the soldiers, hence easily identifying enemies on the ground, sea, orair. The increasing utilization of robots for intelligence, surveillance, andreconnaissance (ISR) activities will bolster the healthy growth of the market.Furthermore, the growing focus of companies towards designing and developingsmall robots capable of transmitting images and videos to the ground-basedstation for assisting soldiers to make real-time decisions on battlefields willsubsequently augur well for the global military robots market during theforecast period.
COVID-19 Pandemic: Suspended Deliveries of Military Robots toRestrict Market Growth
The pandemic has considerably affected the production and delivery ofmilitary robots, which, in turn, will diminish the growth of the market.Stringent government norms have disrupted the import and export of robots,resulting in delayed deliveries. The halt on operations has critically thwartedthe production in manufacturing processes. The prominent companies situated inthe U.S., the U.K., Germany, and France have experienced enormous loss due tothe outbreak. However, companies are implementing strategies to recover thefinancial damage caused by the coronavirus, which, in turn, can improve themarket scenario.
Regional Analysis:
Presence of Major Manufacturing Companies to Boost Development inEurope
Europe is expected to experience a rapid growth rate during the forecastperiod owing to the presence of prominent manufacturers in the region.According to The World Robotics 2019, 700 service robot manufacturing companiesare identified across the globe, out of which 307 companies are operating inEurope. The increasing trend for advanced robots with features such as speechand haptics-based human-machine interface, navigation and collision avoidance,motion, and task planning will further propel the growth of the market inEurope. The increasing military expenditure coupled with robust homelandsecurity will have an excellent impact on the military robots market growth inthe region.
Key Industry Development:
October 2019: BAE Systems, a British multinational defense,security, and aerospace company developed Robotic Technology Demonstrator (RTD)as a program to showcase the latest in robotic combat systems.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/military-robots-market-104663
