Military robots are autonomous robots or remote control mobile robots especially designed for military applications, search operation, rescue operation and even for attack. These robots are operated by soldiers and are programmed to perform according to the given instruction. They have been proved as an essential tool for military operations. Military robots can perform those operations which are impossible for a soldier. These robots are highly advanced and are able to transform, receive and forward information. Some military robots are equipped with arms and weapons for attack application.
Market Size & Forecast
Global military robots market is anticipated to flourish at a robust compound annual growth rate (CAGR) of 9.0% over the forecast period 2017-2024. The global military robot market stood at valuation of around USD 1,300.4 Million in 2016 and is expected to reach at a valuation of about USD 2,571.8 Million by the end of 2024. Increasing terrorist activities across the globe and increasing investment in defense sector are some major factors which are expected to foster the growth of global military robots market. In terms of region, North America is slated to account for a leading share of 38.1% in the terms of revenue by 2024 in the military robots market. The growth in the region is anticipated to be fostered by the increasing military expenditure to strengthen the army. Besides, positive GDP growth coupled with advancement in military robots is also expected to impel the growth of military robots market in the North America region. Likely, U.S. and Canada are the prominent market in the region.
On the other hand, Europe is the second leading market for military robots and is expected to witness a robust growth during the forecast period. The market of military robots in Europe region is anticipated to flourish at highest compound annual growth rate (CAGR) over the forecast period. This growth of Europe region can be attributed to various factors such as rising adoption of robots and humanoids in defense sector and presence of robot industries in the region. Additionally, Asia-Pacific is expected to showcase lucrative growth over the forecast period i.e. 2017-2024. Further, the market is expected to garner USD 601.8 Million by 2024.CLICK TO DOWNLOAD FREE SAMPLE
Our-in depth analysis of the global military robots market includes the following segments:
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Growth Drivers & Challenges
Global military robots market is driven by some of the major factors such as increasing investment in defense & military sectors and technological advancement of military robots. Increasing terrorism activities all over the globe is one of the major factors which has forced all nations to strengthen their military and defense sector which is further anticipated to impel the demand for military robots in defense sector. In addition to this, military robots have numerous advantages such as lifesaving, firefighting ability and various other advantages.
Innovation and technology is expected to be unleashed in upcoming years. The adoption of automation technologies and robotics in defense sector is rising to perform various tasks. Further, growing adoption of robotics and automation technology in defense applications is expected to drive the growth of global military robots market in future. Governments of many countries are highly investing in development of advanced technologies such as artificial intelligence (AI) and Nano robotics to increase their promising applications for defense sector. Further, increasing investments by governments to adopt advanced military robots is also anticipated to foster the growth of global military robots market during the forecast period. Although, robots are lifesaving machines in warzone and in other defense applications, but here are chances of capturing and hacking of these military robots. Further, the military robots are yet not that effective and reliable in warzone. Moreover, limitations such as lack of ability to choose target between enemy and civilians is obstructing the use of combat military robots.
Direct access to analyst to help you understand the market in a better way to handle your critical question
Citing your business specific requirement our consultant would assist you ensuring targeted goal is achieved
Get 10% free customization