Tactical UAV market is projected to grow at a CAGR of 10.9% by 2034: Visiongain (2024)

Tactical UAV market is projected to grow at a CAGR of 10.9% by 2034: Visiongain (1)Tactical UAV market is projected to grow at a CAGR of 10.9% by 2034: Visiongain (2)

Visiongain has published a new report entitled Tactical UAV Market Report 2024-2034: Forecasts by System (Communication, Surveillance, Propulsion, Others), by UAV Type (Fixed-Wing, Rotary Wing), by Application (ISR, Target Acquisition, Combat Operations, Electronic Warfare) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.

The tactical UAV market was valued at US$5,542.3 million in 2023 and is projected to grow at a CAGR of 10.9% during the forecast period 2024-2034.

Increasing Military Modernization Initiatives Fuel Demand for Tactical UAVs in Developing Countries

Rising military modernization in developing nations drives demand for tactical UAVs. As countries prioritize defence upgrades, the market for advanced UAV systems expands. With their cost-effectiveness and versatility, tactical UAVs are sought for surveillance, reconnaissance, and precision strikes. This trend creates lucrative opportunities for UAV manufacturers and technology firms. Strategic partnerships and tailored solutions are key to meeting the evolving needs of developing countries. As demand grows, the tactical UAV market thrives, poised for significant expansion in the global defence industry. Countries like China, India and Brazil are investing heavily in enhancing their surveillance, reconnaissance, and combat capabilities through advanced UAV technology. For instance, in March 2024, China unveiled new aerial cluster drone for swarm attacks. This new drone, similar to the consumer-grade DJI multirotor, can split into multiple smaller drones during flight, allowing for tactical flexibility and overwhelming potential adversaries. This innovation represents a strategic advantage in modern warfare, showcasing China's growing capabilities in UAV technology.

For instance, in December 2023, DRDO achieved a milestone by conducting a successful flight test of the indigenous High-Speed Flying Wing UAV, showcasing India's prowess in developing advanced unmanned aerial vehicles. This achievement signifies India's capability to land high-speed UAVs autonomously, without reliance on ground radar or human pilots. The test, conducted at the Aeronautical Test Range in Chitradurga, Karnataka, highlights India's emergence as a key player in advanced defence technology, fostering self-reliance and innovation in critical defence sectors. Also, in August 2023, Brazil military authorities announced plans to invest US$11.3 billion on modernization of Brazil armed forces by procuring advanced weapons and equipment. These investments in military modernization not only enhance defence capabilities but also provide lucrative opportunities for UAV manufacturers and technology providers, driving robust market growth in developing countries.

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How has COVID-19 had a Significant Negative Impact on the Tactical UAV Market?

The COVID-19 pandemic initially disrupted Tactical UAV manufacturing, supply chains, and training activities, causing delays and affecting deployment readiness. However, the crisis increased demand for UAVs in pandemic response efforts, such as surveillance, enforcing lockdowns, and delivering medical supplies. This highlighted the UAVs' value in crisis management and disaster relief. The pandemic accelerated the adoption of autonomous technologies, driving innovation in UAV systems with enhanced autonomy and AI capabilities. This trend addresses challenges like social distancing and aligns with the growing emphasis on unmanned systems in modern warfare. Despite challenges, the Tactical UAV market is expected to grow as defence budgets rebound, prioritizing investments in unmanned capabilities for national security. Lessons learned from the pandemic emphasize the crucial role of Tactical UAVs in future crises and evolving security needs, sustaining demand for these assets.

How will this Report Benefit you?

Visiongain’s 280-page report provides 106 tables, 163 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the tactical UAV market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for tactical UAV market. Get financial analysis of the overall market and different segments including system, UAV type, application and capture higher market share. We believe that there are strong opportunities in this fast-growing tactical UAV market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.

What are the Current Market Drivers?

Growing Demand for High-Altitude Long-Endurance (HALE) UAVs

The demand for High-Altitude Long-Endurance (HALE) UAVs is surging due to their unmatched endurance and versatile applications. These unmanned aircraft offer persistent surveillance, communication relay, and reconnaissance capabilities essential for border security, disaster management, and military operations. Technological advancements have made HALE UAVs more reliable, cost-effective, and compact, driving their adoption in both military and commercial sectors. Nations rely on them for intelligence gathering and real-time data, while industries utilize them for tasks like telecommunications and agriculture. As demand grows, further innovations are expected, promising to reshape industries and redefine operational capabilities.

The growing demand for high-altitude long-endurance (HALE) UAVs and extensive research and development (R&D) activities are expected to propel the market forward. For example, in February 2024, the United States approved the sale of 31 MQ-9B armed drones to India, estimated at USD 3.99 billion. This acquisition will enhance India's capability to address present and future threats by enabling unmanned surveillance and reconnaissance patrols in sea lanes of operation. Under the agreement, India will receive 31 High Altitude Long Endurance (HALE) UAVs, with the Navy acquiring 15 SeaGuardian drones and the Army and Indian Air Force each obtaining eight of the land versions – SkyGuardian.

The Development of Advanced Electronic Warfare Capabilities

The rapid evolution of modern warfare has necessitated the development of advanced electronic warfare (EW) capabilities, owing to increasing complexity and digitization of military systems have made them vulnerable to electronic attacks. Adversaries seek to exploit these vulnerabilities to disrupt communications, jam radar systems, and interfere with command-and-control networks. As a result, nations are investing heavily in EW technologies to protect their assets and gain a strategic advantage on the battlefield.

Furthermore, the proliferation of unmanned aerial vehicles (UAVs), particularly tactical UAVs, has intensified the need for advanced EW capabilities. Tactical UAVs play a crucial role in modern military operations, providing intelligence, surveillance, reconnaissance, and even strike capabilities. The development of advanced electronic warfare capabilities, including radio, radar, and infrared signals, also contributes positively to the market. For instance, in 2023, the first test flight of the U.S. Marine Corps XQ-58A Valkyrie alongside a U.S. Air Force F-16 Fighting Falcon indicates the increasing integration of highly autonomous and cost-effective unmanned air vehicles with traditional aircraft. This trend is particularly evident in Ukraine, where air superiority remains elusive even after prolonged conflict. Both sides heavily rely on unmanned systems, artillery, trenches, and electronic warfare to gain an edge. As a result, there is continuous development of new drones and electronic warfare systems, often in response to advancements by the opposing side.

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Where are the Market Opportunities?

Strategic Collaborations Drive Innovation and Growth in the Tactical UAV Market

Partnerships between governments, defence contractors, and technology firms in the tactical UAV sector present an opportunity for substantial innovation and development. Government involvement brings funding, regulatory support, and strategic direction, stimulating demand for advanced UAV technologies. Defence contractors, drawing on their expertise in design and manufacturing, ensure that UAVs meet military standards while integrating cutting-edge technologies. Additionally, their established relationships with government agencies facilitate the adoption of UAV solutions. For example, in March 2024, India made a substantial stride in enhancing its defence capabilities by acquiring 31 MQ-9B Predator drones from the United States. This acquisition marks a significant milestone in India-US defence relations, facilitated through a government-to-government transaction, with the Indian Defence Ministry overseeing the nearly $4 billion deal.

Competitive Landscape

AeroVironment, Inc., Airbus SE, Antonov, BlueBird Aerosystems LTD., Elbit Systems Ltd., General Atomics, Israel Aerospace Industries (IAI), Leonardo SpA, Lockheed Martin Corporation, Northrop Grumman Corporation, Saab AB, Safran S.A., Textron, Inc., Thales Group, and The Boeing Company. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, agreement, regional business expansion, and new product launch.

Recent Developments

  • On 19th may 2024, Thales Group collaborated with Skyfire Consulting, a prominent public safety UAS consulting group, to integrate the Skyfire SF2 into Vantis, North Dakota's system for facilitating advanced UAS operations. Thales selected the Skyfire SF2 due to its adaptability and payload-agnostic design, allowing thorough testing of advanced airspace management tools and air traffic systems.

  • On 16th April 2024, BlueBird Aerosystems LTD.'s announced it planned to establish a drone production facility in Morocco is significant and aligns with the military cooperation agreement between Morocco and Israel signed in 2021. This agreement includes provisions for leveraging Israeli expertise to develop Morocco's military industry.

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Tactical UAV market is projected to grow at a CAGR of 10.9% by 2034: Visiongain (3)

Tactical UAV market is projected to grow at a CAGR of 10.9% by 2034: Visiongain (2024)

FAQs

Tactical UAV market is projected to grow at a CAGR of 10.9% by 2034: Visiongain? ›

The tactical UAV market was valued at US$5,542.3 million in 2023 and is projected to grow at a CAGR of 10.9% during the forecast period 2024-2034. Rising military modernization in developing nations drives demand for tactical UAVs. As countries prioritize defence upgrades, the market for advanced UAV systems expands.

What is the market potential for UAV? ›

According to a study, the global unmanned aerial vehicle (UAV) market size was worth around USD 15.21 billion in 2023 and is predicted to grow to around USD 47.67 billion by 2032.

What is the UAV market trends? ›

The Unmanned Aerial Vehicles Market size is estimated at USD 17.31 billion in 2024, and is expected to reach USD 32.95 billion by 2029, growing at a CAGR of 13.74% during the forecast period (2024-2029). UAVs have come into existence mainly to reach and traverse areas that are arduous for humans to maneuver.

What is the Teal Group UAV market forecast? ›

Teal Group's 2022/2023 market study estimates that UAS procurement spending will increase from the current worldwide level of almost $12.1 billion annually in 2023 to $16.4 billion in 2032, totaling $162.2 billion over the next ten years.

What is the volume of the UAV market? ›

Report MetricDetails
Market size value in 2022USD 22.4 Billion
Market size value in 2031USD 166.70 Billion
Growth Rate25%
Base year2023
6 more rows

Who is the largest manufacturer of UAV? ›

DJI, also known as Da Jiang Innovations, has become the world's largest drone maker, having achieved global dominance in less than 20 years. The company now supplies 70% of the world's consumer drones and nearly 80% of U.S. consumer drones.

How big is the drone market in 2030? ›

The global drone market is expected to reach USD 260 billion by 2030, at a CAGR of 27% during the forecast period 2022 to 2030, according to a report published by Spherical Insights. The report finds the drone market was worth USD28. 5 billion in 2021, rising to USD260 billion in 2030 at 27% CAGR.

What is the future of UAV? ›

In the future, UAV commercial passenger flights or large material transport using entirely autonomous flights still have some design challenges to overcome. Regulations, however, are more likely to hinder their long-term progress.

Why is the drone market growing? ›

Market Drivers: Factors propelling the Drone Market include the surging demand for various applications globally. Market Insights: The Drone Market is poised for significant growth, with an impressive CAGR projected from 2024 to 2031. With strategic moves by industry leaders, the market is set to expand further.

What is the UAS market forecast? ›

Market Analysis and Insights: Global Unmanned Aircraft Systems (UAS) Market Due to the COVID-19 pandemic, the global Unmanned Aircraft Systems (UAS) market size is estimated to be worth US$ 4979.2 million in 2022 and is forecast to a readjusted size of US$ 6944 million by 2028 with a CAGR of 5.7% during the forecast ...

What is the outlook for the drone market? ›

Drone Market Outlook (2024 to 2034)

Worldwide sales of drones are evaluated to climb to US$ 223.66 billion by the end of 2034, up from US$ 29.96 billion in 2024. The global drone market is projected to expand at a remarkable CAGR of 22.3% from 2024 to 2034.

Why is UAVs stock going down? ›

Speculation that AgEagle was working with Amazon last year sent investor perception about AgEagle, and therefore its stock price, shooting through the roof. With that company now out of AgEagle's growth band, it's no wonder the stock is falling.

What is the stock price forecast for UAVs in 2030? ›

AgEagle Aerial Systems Stock Prediction 2030

In 2030, the AgEagle Aerial Systems stock will reach $ 54.54 if it maintains its current 10-year average growth rate. If this AgEagle Aerial Systems stock prediction for 2030 materializes, UAVS stock will grow 8,684.62% from its current price.

What is the market for UAVs? ›

Fortune Business Insights (a market research company) says that the worldwide military UAV market was $12.55 billion in 2022, growing to $35.6 billion by 2030 (a compound annual growth rate of 14.1%).

How big is the commercial UAV market? ›

The global commercial UAV market size was valued at USD 9,393.0 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 19.5% from 2023 to 2030.

How will the UAV affect the economy? ›

AUVSI's findings show that in the first three years of integration more than 70,000 jobs will be created in the United States with an economic impact of more than $13.6 billion. This benefit will grow through 2025 when we foresee more than 100,000 jobs created and economic impact of $82 billion.

What is the business potential of drones? ›

The drone industry is rapidly growing, with the market expected to reach $42.8 billion globally by 2025. This presents a lucrative opportunity for entrepreneurs looking to start their own business.

What is the forecast for UAVs stock? ›

Based on the average yearly growth of the AgEagle Aerial Systems stock in the last 10 years, the UAVS stock forecast for the beginning of next year is $ 1.47525.

What is the market demand for drones? ›

Worldwide sales of drones are evaluated to climb to US$ 223.66 billion by the end of 2034, up from US$ 29.96 billion in 2024. The global drone market size is projected to expand at a remarkable CAGR of 22.3% from 2024 to 2034. Drones find a wide range of applications across various sectors.

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