The Military Robotics Market is expected to reach US$245.1 Billion by 2026
LONDON, June 14, 2017 /PRNewswire/ -- Highlights
· The Military Robotics Market - Key Drivers, Trends and New Developments
· Global Military Robots market is dominated by North America, with the US being the largest defense spender in the sector.
· North American countries are to allocate US$244.4 Billion on capital expenditure in 2016.
· Over the period 2016-2026, capital expenditure is expected to slightly increase, at a CAGR of 0.06%, to reach US$245.1 Billion by 2026.
· Europe trails North America as the second-largest market, offering a potentially attractive investment opportunity for western firms.
· The Middle East is a promising market for military Robotics, propelled by the growing demand for Unmanned Ground Vehicles (UGV) and Unmanned Aerial Vehicles (UAV) to counter security threats such as terrorism, illegal infiltration, drug trafficking, and border encroachments.
· Countries in the Latin American and African regions are slowly realizing the advantages of robots as force multipliers and are initiating procurement programs, which are expected to be in full force over the future.
· The global economic slowdown has reduced military expenditure worldwide; as a consequence, a significant number of countries are establishing joint projects in order to share R&D costs.
· Partnerships between defense firms have also increased, as a significant number of countries are investing in the development of their domestic robotics industries by establishing strategic alliances and technology-transfer agreements with global manufacturers.
· The cumulative expenditure of global combined military UAV and UGV market is US$120.4 Billion during the period 2016-2026. The demand for UAVs is expected to be driven by internal and external security threats, territorial disputes, and modernization initiatives undertaken by Armed Forces across the world.
The Military Robotics Market - Key Drivers, Trends and New Developments
Summary
Global Military Robots market is dominated by North America, with the US being the largest defense spender in the sector. North American countries are to allocate US$244.4 Billion on capital expenditure in 2016. Over the period 2016-2026, capital expenditure is expected to slightly increase, at a CAGR of 0.06%, to reach US$245.1 Billion by 2026. Europe trails North America as the second-largest market, offering a potentially attractive investment opportunity for western firms.
The Middle East is a promising market for military Robotics, propelled by the growing demand for Unmanned Ground Vehicles (UGV) and Unmanned Aerial Vehicles (UAV) to counter security threats such as terrorism, illegal infiltration, drug trafficking, and border encroachments. Countries in the Latin American and African regions are slowly realizing the advantages of robots as force multipliers and are initiating procurement programs, which are expected to be in full force over the future.
The global economic slowdown has reduced military expenditure worldwide; as a consequence, a significant number of countries are establishing joint projects in order to share R&D costs. Partnerships between defense firms have also increased, as a significant number of countries are investing in the development of their domestic robotics industries by establishing strategic alliances and technology-transfer agreements with global manufacturers.
The cumulative expenditure of global combined military UAV and UGV market is US$120.4 Billion during the period 2016-2026. The demand for UAVs is expected to be driven by internal and external security threats, territorial disputes, and modernization initiatives undertaken by Armed Forces across the world.
Military robots have proved to be exceedingly useful during peacekeeping missions and the ongoing global war on terror, finding applications across ISR and combat roles. Furthermore, enhanced capabilities in areas such as endurance, data processing, and communications have broadened role of unmanned systems in both defense and intelligence roles. Security threats posed by cross-border insurgents, illegal immigrants, pirates, hostile nations and terrorist organizations such as Al-Qaeda and Jemaah Islamiah (JI) have created a need for defense systems capable of carrying out surveillance and intelligence gathering missions.
The report "The Military Robotics Market - Key Drivers, Trends and New Developments" offers analysis of the global Military Robotics market and covers key technological and market trends in the industry, and analyzes drivers/factors influencing demand for Military Robotics.
In particular, it provides an in-depth analysis of the following -
- End-user Analysis: Insight into the key users of Military Robotics within the military as well as homeland departments.
- Drivers: Detailed analysis of factors driving the global market for Military Robotics.
- Trends: Insights on the prevalent trends in the sector.
- Technology Trends and New Developments: Insights into current technological trends and new developments that will shape the market in the future.
- Key Military Robotics In Use: Highlights of five popular Military Robotics that are being currently used be defense forces across the world.
- Country Analysis: Analysis of the five spenders that are anticipated to invest heavily in the domain, and recent programs executed by these nations.
- Supplier Analysis: Analysis of the five major companies that are catering to Military Robotics requirements in the domain.
Companies mentioned in this report: Boeing, General Atomics Aeronautical Systems Inc, iRobot Corporation, QinetiQ Group Plc, Roboteam Ltd.
Scope
- The global military robots market is dominated by North America, with the US being the largest defense spender in the sector. North American countries are to allocate US$244.4 billion on capital expenditure in 2016. Over the period 2016-2026, capital expenditure is expected to slightly increase, at a CAGR of 0.06%, to reach US$245.1 billion by 2026. Europe trails North America as the second-largest market, offering a potentially attractive investment opportunity for western firms.
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