Defense Robotics -Market Demand, Growth, Opportunities and Analysis Of Top Key Player Forecast To 20
Defense Robotics Industry
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The defense robotics market growth outlook is stable with significant growth potential for unmanned aerial vehicles. There is mounting pressure from military organizations globally, to reduce costs, improve features, efficiency and operability of unmanned systems. At the same time, increasing investment in modernization in emerging markets is contributing to the growth of the market.
The global market for defense robotics reached $9.6 billion in 2018 and should reach nearly $14.1 billion by 2023, at a compound annual growth rate (CAGR) of 8.2% for the period of 2018-2023.
The market for defense robotics is moderately concentrated. Major players in the market are Textron Inc, Northrop Grumman Corporation, Lockheed Martin Corporation, The Boeing Company and BAE Systems Plc.
The unmanned aerial vehicles segment accounted for the largest share of the defense robotics market in 2018 at REDACTED billion. The highest growth is projected to come from the unmanned aerial vehicles segment, which is forecast to grow at a CAGR of REDACTED. Major factors for this growth include rise in terrorism and political instability in the Middle East region.
North America was the largest region in the defense robotics market, accounting for REDACTED of the global market. It was followed by Western Europe and Asia Pacifi....