[298 Pages] Military robots market to surpass $34,618.14 million by 2030; Land robots platform to grow at 8.8% CAGR; Autonomous mode to rise 8.8% CAGR.
PORTLAND, ORAGON, UNITED STATES, September 23, 2021 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “Military robots Market by Application, Mode of Operation, and Platform: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global military robots market was valued at $17.55 billion in 2020, and is projected to reach $34.61 billion by 2030, registering a CAGR of 7.4%.
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Asia-Pacific dominates the market, in terms of revenue, followed by North America, Europe, and LAMEA. The U.S. dominated the global military robots market share in North America region in 2020, owing to increase in R&D activities, technological developments by big players, rapid adoption of innovative technologies in making reliable, precise, and efficient autonomous systems. North America is expected to grow at a significant rate during the forecast period, owing to rise in adoption of military robots, along with its huge defense spending and the presence of major defense equipment manufacturers such as BAE Systems plc, Northrop Grumman Corporation, Raytheon Technologies Corporation, and others.
By application, the market is categorized into combat support, intelligence, surveillance and reconnaissance (ISR), mine clearance, explosive ordnance disposal (EOD), and others. The combat support segment accounted for the highest revenue in 2020, owing to high demand for a military robot by defense forces to assist in combat operations throughout the globe.
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By mode of operation, the military robots market is bifurcated into human operated and autonomous. The human operated segment accounted for the highest revenue in 2020, owing to the high demand for human operated robots as it involves the unmanned feature and human intelligence capabilities.
By platform, the military robots market is bifurcated into airborne robots, land robots, and marine robots. The land robots segment accounted for the highest revenue in 2020, as they offer high efficiency, lethality and reliability in a combat situation.
An increase in investments to develop autonomous systems throughout the world and a rise in demand for underwater drones for defense and security applications are expected to drive the military robots market during the forecast period. However, the high cost of military drones and communication problems associated with autonomous underwater vehicles (AUVs) are anticipated to hamper the growth of the market. Moreover, increasing investment for robotics technologies in unmanned ground vehicles and a rise in defense spending globally are expected to offer lucrative opportunities for the market in the future.
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COVID-19 Impact Analysis
The COVID-19 impact on the military robots market is unpredictable and is expected to remain in force till the fourth quarter of 2021.
The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned import-export of non-essential items for most of 2020. This led to sudden fall in the availability of important raw materials.
Moreover, nationwide lockdowns forced manufacturing facilities to partially or completely shut their operations.
Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of reliable and innovative military autonomous systems globally.
Key Findings Of The Study
By application, the combat support segment is expected to register a significant growth during the forecast period.
By mode of operation, the autonomous segment is anticipated to exhibit significant growth in future.
By platform, the land robots segment is projected to lead the global military robots market, owing to higher CAGR as compared to airborne and marine robots segment.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
Key players operating in the global military robots market include BAE Systems plc, Elbit Systems Ltd., General Dynamics Corporation, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Northrop Grumman Corporation, Rafael Advanced Defense Systems Ltd., Rheinmetall AG, SAAB AB, and Thales Group
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Source: EIN Presswire