The military robots market is expected to grow over the CAGR of around 9.5% during the period 2017 to 2023.
Military robots are designed for the defense purpose and are controlled by remote. They have the capability to perform dangerous tasks, which makes it more advantageous than other instruments. Advancements in technology and upgrades have made military robots more reliable and efficient. They have the ability to rescue from enemy attack so as to protect the nation from cross border attacks. The factors that are responsible for the growth of this market are rise in growth for efficient border investigation and common ISR functions. Other factors that are responsible for the growth are advancement in technology and minimization of terrorism.
Market Research Analysis
Europe is expected to dominate the military robots market during the forecast period because manufacturers in Europe are equipped with the knowledge of robotics and developing robots with human interface. Europe has developed various research institutes that provide education in robotics. Innovation in technology in robots has also led the market of Europe to growth during the forecast period. In North America, there is higher government spending in defense sector, which has led the military robots market to be the second largest region. The global military robots market is expected to grow at a CAGR of 9.5 % during the forecast period.
Scope of the Report
This study provides an overview of the global military robots market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share forNorth America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global military robots market by its platform, by application, by payload, and by region
The key players in military robots market are Lockheed Martin Corporation (U.S.), Northrop Grumman System Corp. (U.S.), General Dynamics Corporation (U.S.), BAE Systems, Inc. (U.K.), AeroVironment Inc. (U.S.), and iRobot (U.S.), Boston Dynamics (U.S.), Thales Group (France), Elbit Systems Ltd (Israel), and Turkish Aerospace Industries, Inc. (Turkey).