Global Military Robots Market Outlook: Ken Research

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Major players in the military robots’ market are Lockheed Marin Corporation, Northrup Grumman Corporation, General Dynamics Corporation, BAE Systems, Aerovironment, Inc, Irobot, Boston Dynamics, Thales Group, Elbit Systems Ltd, and Turkish Aerospace Industries Inc.

The global military robots the market is expected to decline from USD 19.19 billion in 2019 and to USD 18.68 billion in 2020 at a compound annual growth rate (CAGR) of -2.66%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach USD 25.28 billion in 2023 at a CAGR of 10.61%.

The global military robots market consists of sales of robots designed for military applications. The market consists of revenue generated by the establishments by the sales of remotely controlled military robots that are designed for tasks such as transport, search, rescue, gunfire/attack, airborne and for underwater surveillance, image capturing, bomb disposal, carry wounded military personnel and detect mines.

North America was the largest region in the military robot market in 2019. Europe is expected to be the fastest-growing region in the forecast period, followed by the Asia Pacific.

Multi-mission robots are designed to carry out multi-domain operations in the military. Unlike humans, robots do not suffer from physical and mental exhaustion. With continuous advances in electronic component technology and miniaturization, the operational flexibility of robots increased tremendously. They exhibit greater endurance from the impact of bombs and weapons ensuring greater security. Today’s robots are equipped with mission-specific tasks and individual munitions. The payloads that these robots carry may be integrated into line with the mission requirements. For instance, 710 Kobra is a heavy-duty, multi-mission robot designed by American robot maker iRobot Defense & Security (now Endeavor Robotics Holdings) to provide increased safety and mission effectiveness for soldiers, first responders, and security personnel.

The military robots market covered in this report is segmented by the platform into the land; marine; airborne. It is also segmented by application into ISR; search and rescue; combat support; transportation; EOD; mine clearance; firefighting, by payload into sensors; cameras; LCD screens; weapons; radar; others and by end-user into armed forces; homeland securities.

The decline in the defense budget in developed economies across the globe acts as restraints for the industry. World military expenditure is an estimated USD 1822 billion in 2018. The global military expenditure as a share of GDP fell to 2.1 percent in 2018. According to International Monetary Funds (IMF) report, there has been a significant drop in global military spending as a percent of GDP from 3.6% during the Cold War era (1970-90) to 1.9% in the current decade (2010-18). Military spending decreased in Eastern Europe, North Africa, Oceania, South East Asia, sub-Saharan Africa, and the Middle East. For instance, military expenditure in Africa fell by 8.4 percent in 2018, by 6.5 percent in Saudi Arabia, by 1.4 percent in France, and in Russia by 3.5 percent in 2018. The decline in the defense budget in some developed economies across the globe is expected to hamper the military robot market.

In February 2019, FLIR Systems is a world-leading maker of sensor systems acquired Endeavor Robotics for USD 385M amount. With the addition of Endeavor, FLIR becomes a leading provider of unmanned aerial and ground solutions to support the needs of warfighters, and public safety and critical infrastructure professionals. Endeavor Robotics is a robotics company focused on the defense, public safety, and industrial markets.

The market growth can be attributed to the increasing adoption of land-based military robots by various countries for border security. Border security robots that are based on hybrid wireless sensor networks were introduced to address concerns about national security. The primary objective of the border patrol robots is to save the lives of security personnel deployed for border surveillance. Border patrol systems that utilize the PIR sensor for human detection and a metal detector for explosive detection, can accurately detect the border intrusion with minimum human involvements. The system also uses a wireless camera to continuously monitor the border. Based on the fact that autonomous military systems can cut down cost, improve effectiveness, enable more broad military operations, and importantly help keep security personnel out of harm, various countries are adopting military robots for border security. The increasing adoption of military robots by various countries, therefore, is expected to drive the military robot market growth.

For More Information on the Research Report, refer to below links: –

Global Military Robots Market Outlook

Related Report: –

Global Military Robots and Unmanned Vehicles Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024

Contact Us: –

Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249

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