Military drone market will reach $26 billion by 2028: report
NewsFebruary 23, 2023
PALM BEACH, Florida. The global military drone market will reach $26 billion by 2028 for a compound annual growth rate of 11.7%, a new report predicts.
The report, from FinancialNewsMedia.com, states that military drones have seen growing usage worldwide for surveillance, communications, high-definition video, combat, electronic attack, intelligence, search and rescue, and other uses, and a rise in military budgets around the globe is likely to fuel continued growth in this market.
Major players in this market include Boeing, Raytheon, Northrop Grumman, Draganfly, and Kratos, the report adds.
The report also noted that the fixed-wing segment is the most dominant portion of the market, since rotor-wing drones have limitations as far as range. The visual line-of-sight (VLOS) segment in terms of range is likely to grow the fastest.
