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The defense drone market size has grown strongly in recent years. It will grow from $11.24 billion in 2023 to $12.15 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%.  The growth in the historic period can be attributed to rising security concerns, military modernization programs, border security and surveillance, counterterrorism operations, advancements in unmanned systems. The defense drone market size is expected to see strong growth in the next few years. It will grow to $16.33 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.  The growth in the forecast period can be attributed to geopolitical tensions and threats, focus on maritime domain awareness, counter-drone technology development, military procurement programs, integration with command and control systems. Major trends in the forecast period include counter-drone technologies, dual-use applications, collaborations and alliances, regulatory framework development, environmental sustainability.

The defense drone market is anticipated to witness substantial growth due to an increase in defense expenditure globally. Defense expenditure covers both current and capital investments in armed forces, including paramilitary forces and defense-related initiatives. The flexibility, minimal crew engagement, and cost-effectiveness of defense drones have led to their widespread adoption in military operations. In April 2022, the Stockholm International Peace Research Institute reported a 0.7% increase in global defense expenditure, reaching $2,113 billion in 2021. This rise in defense spending is a driving force behind the growing demand for defense drones. The market sizes for 2023, 2024, and 2028 are expected to reflect the impact of increasing defense expenditure on the defense drone market.

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What Are The Key Trends That Influence Defense drone market Share Analysis?

Companies in the defense drone market are developing innovative technologies to enhance their market position. Innovations in this sector significantly boost drone capabilities and efficiency. For example, in December 2023, AquaAirX, an India-based drone manufacturer, launched the country’s first AI-enabled amphibious drone for underwater visual inspection in naval, oil, and gas sectors. Developed by Nmit and NSRCEL-incubated startup, this drone is expected to have various defense and commercial uses. Concurrently, the Indian Navy is working on an Extra Large Unmanned Underwater Vehicle (XLUUV) for intelligence, surveillance, reconnaissance, and mine warfare.

Which Market Players Are Driving Growth In The Defense drone market?

Major companies operating in the defense drone market report are Raytheon Company, The Boeing Company, Lockheed Martin Corporation, Airbus SE, General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems Plc., Thales Group, L3Harris Technologies, Inc., Leonardo S.p.A., Elbit System Ltd., Israel Aerospace Industries Ltd., Teledyne FLIR LLC, Saab Group, Hindustan Aeronautics Ltd., General Atomics Aeronautical Systems Inc., QinetiQ Group plc, FLIR Systems, Inc., Turkish Aerospace Industries Inc., Textron Systems, Kratos Defense & Security Solutions, Inc., Insitu Inc., Yuneec International Co. Ltd., SZ DJI Technology Co., Ltd., Wisk Aero LLC, AeroVironment Inc., Parrot Drones SAS, Autel Robotics Co., Ltd., PrecisionHawk Inc., Ehang Holdings Limited

How Is The Global Defense drone market Segmented?

The defense drone market covered in this report is segmented –

1) By Product: Fixed-Wing Systems, Multirotor Systems, Other Products
2) By Range: Short Range, Medium Range, High Range
3) By Payload: Small Drones, Medium Drones, Large Drones
4) By Application: Intelligence, Surveillance Reconnaissance And Targeting (ISRT), Combat Operations, Other Applications

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The Decorative Lighting Global Market Report 2024 provides an overview of the decorative lightingmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The defense drone market forecast analyzes defense drone market size, defense drone market share, leading competitor and their market positions.

The Table Of Content For The Defense drone market Include

1. Defense drone market Executive Summary
2. Defense drone market Segments
3. Defense drone market Size And Template Market Growth Rate
4.  Key Defense drone market Trends
5. Major Defense drone market Drivers
……
25. Key Mergers And Acquisitions In The Defense drone market
26. Top Decorative Lighting Companies
27. Defense drone market Opportunities And Strategies
28. Defense drone market, Conclusions And Recommendations
29. Appendix

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