The Business Research Company’s Military Gliders and Drones Global Market Report 2021: COVID 19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, February 18, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
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Increasing funding on unmanned aerial vehicles or drones is projected to contribute to the growth of the military drones market. The growing requirement for intelligence, surveillance, and reconnaissance assets generated higher demand for military gliders and drones. Militaries are expected to spend around $98 billion in new intelligence gathering and strike capabilities. According to the Teal Group, global research and development and procurement spending on drones is estimated to rise from $11.1 in 2020 to $14.3 billion by the end of 2029. Research & development spending is expected to increase from $3.2 billion in 2020 to $4 billion by 2029 and procurement funding is likely to increase from $7.9 billion in 2020 to $10.3 billion by the end of 2029. Such investments in unmanned aerial vehicles or drones are expected to drive the military gliders market during the forecast period.
The military gliders and drones market consists of sales of military gliders & drones by entities (organizations, sole traders, and partnerships) that produce these. A glider is a fixed-wing aircraft that flies using naturally occurring air currents. A drone is an unmanned aerial vehicle that is guided remotely or autonomously. Only goods and services traded between entities or sold to end consumers are included.
The global military gliders and drones market is expected to grow from $27.23 billion in 2020 to $29.67 billion in 2021 at a compound annual growth rate (CAGR) of 9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The military drone market size is expected to reach $47.31 billion in 2025 at a CAGR of 12.4%.
The major players covered in the global military UAV market are Schempp-Hirth Flugzeugbau GmbH, China Aerospace Science and Industry Corporation, Lockheed Martin, Textron Systems, BAE Systems Inc., Jonker Sailplanes, Leonardo, Boeing, DG Flugzeugbau GmbH, Aerovironment Inc.
Military Gliders and Drones Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides military gliders and drones market overview, forecast military gliders and drones market size and growth for the whole market, military gliders and drones market segments, and geographies, military gliders and drones market trends, military gliders and drones market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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