The military robotic and autonomous systems market is in a growing phase, with the leading players actively competing against each other to gain a greater share in the industry.
The key players that are actively participating in the military robotic and autonomous systems market include BAE Systems, Boeing, Elbit Systems, FLIR System, General Dynamics Corporation, L3 Harris Technologies Inc., Israel Aerospace Industries Ltd., Leonardo S.p.A, Lockheed Martin Corporation, Northrop Grumman Corporation, Clearpath Robotics Inc., ECA Group, Hanwha Defense, RedSquared (RE2) Robotics, Dok-Ing, Howe and Howe Technologies.
The prominent players in the military robotic and autonomous systems market adopted strategies of product launches, mergers and acquisitions, partnerships and collaborations, contracts, and other strategies to expand their business. The companies are also involved in some of the other developments that include demonstrations, integrations, and business expansions. Due to the intensive competition, the military robotic and autonomous systems industry requires manufacturers to constantly innovate and develop cost-effective products.
In terms of the military budget, the U.S. has been dominating over other countries for over a decade, with a military budget of $718 billion for FY2020. The U.S Department of Defense allocated $7.52 billion for research, development, and procurement of robotic and autonomous systems in 2019, an increase of 22.64% from the year 2018. The global military robotic and autonomous systems market was valued at $8.76 billion in 2019 and is expected to reach $26.13 billion in 2025 at a CAGR of 20.75% during the forecast period 2020-2025. The growth of the military robotic and autonomous systems market is majorly due to the impending need for modernization of defense forces with advanced unmanned systems and replacement of robotic platforms with humans to carry dull, dirty, and dangerous tasks. Moreover, rising defense budgets for conducting research and development is driving the demand for robotic and autonomous platforms.
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The unmanned aircraft systems segment is expected to remain dominant during the forecast period due to the numerous high budget programs such as Global Hawk, Triton System, NATO AGS (Alliance Ground Surveillance) program and other ongoing programs related to unmanned aircraft system running across different countries. Moreover, the demand for medium altitude long endurance UAVs and unmanned combat vehicles is expected to witness the significant growth during the forecast period 2020-2025 owing to the rising need for intelligence, surveillance, target acquisition, and reconnaissance (ISTAR) capabilities in defense forces. Additionally, the adoption of cutting-edge technologies, such as artificial intelligence, machine learning, and the Internet of Battle Things (IoBT) are changing the landscape of warfare and increasing demand for different platforms.
The market research study offers a wide perspective around different types of unmanned platforms pertaining to the military robotic and autonomous market and analyzes its impact on different regions by providing critical insights into the direction of its future expansion. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.
