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Military Robots Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
LONDON, GREATER LONDON, UNITED KINGDOM, October 30, 2024 /EINPresswire.com/ -- The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—limited time only!
The military robots market has experienced robust growth in recent years. It is projected to increase from $20.39 billion in 2023 to $22.11 billion in 2024, with a compound annual growth rate (CAGR) of 8.4%. This growth during the historical period can be linked to factors such as military modernization, counter-terrorism efforts, asymmetric warfare, the safety of human troops, and ongoing global conflicts.
What Is the Future Market Size of the Global Military Robots Market and Its Yearly Growth Rate?
The military robots market is projected to experience significant growth in the coming years, with expectations of reaching $30.84 billion by 2028 and a compound annual growth rate (CAGR) of 8.7%. This growth during the forecast period can be attributed to advancements in autonomous systems, the development of swarm robotics, urban warfare strategies, and cross-domain integration.
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What Are the Main Factors Driving Military Robots Market Expansion?
The rise in terrorist attacks is anticipated to propel the growth of the military robot market in the future. A terrorist attack is defined as any violent act or threat of violence aimed at instilling fear and intimidation to achieve political, religious, or ideological objectives. Such attacks can be executed by individuals or groups, targeting people, property, or infrastructure. Military robots play a vital role in both preventing and responding to these attacks, helping to reduce casualties and damage. They are utilized in various functions, including surveillance and reconnaissance, search and rescue operations, communication relay, remote engagement, and information gathering, which drives the demand for military robot adoption.
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Who Are the Main Competitors Driving the Military Robots Market Forward?
Key players in the military robots market include Lockheed Marin Corporation, Northrup Grumman Corporation, General Dynamics Corporation, BAE Systems, Aerovironment Inc, Irobot, Boston Dynamics, Thales Group, Turkish Aerospace Industries Inc., QinetiQ, Cobham PLC, Saab AB, Endeavor Robotics, Clearpath Robotics, Boeing, Energid Technologies, Recon Robotics, FLIR Systems Inc., Elbit Systems Ltd., Israel Aerospace Industries Ltd., Baykar, Textron Inc., ECA Group, IAI, Milrem Robotics, Nexter Robotics, Oshkosh Corporation, Rheinmetall AG, Roboteam, RUAG Group, Sarcos Robotics, Shark Robotics, ST Engineering, Telerob, Turkish Aerospace Industries
How Are New Trends Transforming the Military Robots Market Size?
Key players in the military robots market are increasingly pursuing strategic partnerships to merge expertise and resources, share risks and costs, and access new markets. Strategic partnerships involve companies utilizing each other’s strengths and resources to attain mutual benefits and success.
What Are the Key Segments Within the Global Military Robots Market?
1) By Platform: Land, Marine, Airborne
2) By Payload: Sensors, Cameras, LCD Screens, Weapons, Radar, Others
3) By Application: ISR, Search and Rescue, Combat Support, Transportation, EOD, Mine Clearance, Firefighting
4) By End User: Armed Forces, Homeland Securities
North America’s Role as the Foremost Player in the Military Robots Market
North America was the largest region in market in 2023. North America is expected to be the fastest growing region in the market during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Military Robots Market Definition?
Military robots are specifically designed for military purposes. These remotely operated robots perform various tasks, including transport, search and rescue, gunfire or attack operations, airborne and underwater surveillance, image capturing, bomb disposal, carrying injured military personnel, and mine detection.
The Military Robots Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Military Robots Market Report: Trends, Opportunities, Strategies, and More
The Military Robots Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into military robots market size, military robots market drivers and trends, military robots competitors' revenues, and military robots market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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