Rockville, MD , Jan. 22, 2025 (GLOBE NEWSWIRE) — According to Fact.MR, a market research and competitive intelligence provider, the Unmanned Combat Aerial Vehicle (UCAV) market is estimated to reach a valuation of US$ 12,504.7 million in 2024 and is expected to grow at a CAGR of 9.9% during the forecast period of (2024 to 2034).
The market for UCAV is rising because of the demand for autonomous warfare systems that enhance precision, surveillance, and minimize human risk in combat. Stealth, speed, and payload technology makes UCAVs a must-have for modern warfare. As geopolitical tensions are increasing, countries like Thailand are investing more in UCAVs to modernize their defense and address current security threats. The national defense strategy by the government has used UCAVs for critical missions, which include border surveillance, counter insurgency, and maritime security. Some of the technologies in place that are changing the face of the UCAV sector are AI, stealth, and the enhanced payload.
During the SAHA 2024 exhibition that took place in Istanbul, Baykar and the Croatian company ORQA, an exclusive manufacturer of FPV drones, signed a deal concerning the partnership. The ability to fly within a contested environment to then deploy FPV’s at close proximity to the enemy will again present the team with that great tactical advantage when one employs the Bayraktar TB2 as its aerial platform.
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Key Takeaways from Market Study:
- The Unmanned Combat Aerial Vehicle (UCAV) market is projected to grow at 9.9% CAGR and reach US$ 32,140.3 million by 2034
- The market created an absolute $ opportunity of US$ 19,635.6 million growing at a CAGR of 9.9% between 2024 to 2034
- North America is a prominent region that is estimated to hold a market share of 35.4% in 2034
- Predominating market players include BAE Systems, BAYKAR TECH, Boeing, China Aerospace Science and Technology Corporation, Elbit Systems, General Atomics, IAI, Kratos Defense & Security Solutions, Inc., Kronstadt Company, Leonardo S.p.A., Lockheed Martin Corporation, Northrop Grumman, and Türk Havacılık ve Uzay Sanayii A.Ş (Turkish Aerospace Industries) among other.
- North America, Middleast And Africa are expected to create an absolute $ opportunity of US$ 12,097.3 million collectively
“Rising demand for autonomous warfare systems, enhancing precision, surveillance, and reducing human risk in combat will drive the market” says a Fact.MR analyst.
Unmanned Combat Aerial Vehicle (UCAV) Market:
Key players in the Unmanned Combat Aerial Vehicles (UCAVs) market are BAE Systems, BAYKAR TECH, Boeing, China Aerospace Science and Technology Corporation, Elbit Systems, General Atomics, IAI, Kratos Defense & Security Solutions Inc., Kronstadt Company, Leonardo S.p.A., Lockheed Martin Corporation, Northrop Grumman, Türk Havacılık ve Uzay Sanayii A.Ş (Turkish Aerospace Industries).
Market Development:
The Unmanned Combat Aerial Vehicle (UCAV) market key players are focusing on expansion activities, technological advancement, product innovations, strategic partnerships and collaborations, and regulatory compliances to acquire significant share in the industry.
For instance, on December 2024, Elbit Systems has inked several agreements totaling approximately US$ 40 million to provide the Israel Defense Forces (IDF) with cutting-edge drones and autonomous systems. The IDF wants to improve its operational capabilities by obtaining intelligence-gathering drones that are “capable of operating within Seek & Strike swarms and intelligence platoons,” according to the Israeli Ministry of Defense, which has not revealed the precise models.
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Unmanned Combat Aerial Vehicle (UCAV) Industry News:
- Drone Destination and India’s National Small Industries Corporation (NSIC) signed a Memorandum of Understanding in July 2024 to develop a drone training centre at NSIC in New Delhi. This effort will provide comprehensive training in drone technology, repair, maintenance, and remote piloting, with the goal of increasing skill development and employment in the drone sector. The programs will gradually roll out across all NSIC Technical Skill Centres, increasing access to advanced drone education and helping India’s developing drone ecosystem. This collaboration is expected to improve workforce capabilities while driving economic growth through innovation.
- DARTdrones stated in April 2024 that they would be expanding their course on specialized training for drone use in public safety. Through this project, they collaborated with numerous police officers and fire departments around the United States to provide a tailored training program for emergency responders.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the The Unmanned Combat Aerial Vehicle (UCAV) market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights on the basis of the types (Fixed-Wing System, Rotary-Wing System), Altitude (Medium-Altitude (<30000ft.), High-Altitude UCAV(>30000ft.)), Autonomy (Remote-controlled, semi-Controlled, Fully Autonomous), across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and Middle East & Africa).
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