The global   Unmanned Aerial Vehicle (UAV) market   size was valued at USD 36.41 billion in 2024. The market is projected to grow from USD 41.26 billion in 2025 to USD 125.91 billion by 2032, exhibiting a CAGR of 17.3% during the forecast period.

Unmanned aerial vehicles, or drones, are mainly controlled by ground-based controllers. The drones have aerodynamic structures that utilize various functions with appropriate navigation systems. Unmanned aerial vehicles are mainly used in the military sector to carry out several military missions.

Fortune Business Insights™   mentioned this in a report titled " Unmanned Aerial Vehicle (UAV) Market, 2025-2032 ."

List of Key Players Present in the Report :

• AeroVironment, Inc. (U.S.)
• Autel Robotics (U.S.)
• Parrot Drone S.A.S. (Switzerland)
• Yuneec (China)
• BAE Systems PLC (U.K.)
• Boeing (U.S.)
• Elbit Systems Ltd. (Israel)
• General Atomics Aeronautical Systems (U.S.)
• Hexagon AB (Sweden)
• Israel Aerospace Industries (Israel)
• Lockheed Martin Corporation (U.S.)
• Northrop Grumman Corporation (U.S.)
• SZ DJI Technology Co. Ltd. (China)
• Teledyne Technologies Inc. (U.S.)
• Textron Systems Corporation (U.S.)

Source:

https://www.fortunebusinessinsights.com/industry-reports/unmanned-aerial-vehicle-uav-market-101603

Segments:

Increasing Demand from Major Countries Drives Tactical UAVs Segment

By UAV class, the unmanned aerial vehicle market is segmented into micro UAVs (Below 2 Kg), mini UAVs (2-20 Kg), small UAVs (20-50 Kg), and tactical UAVs (MALE & HALE). The tactical UAVs (MALE & HALE) segment is expected to witness fastest growth during the forecast period owing to the rising demand for tactical UAVs by India, Japan, China, and Australia.

Presence of FPS and CDS in Fully Autonomous UAVs Segment’s Growth

By operational mode, the market is classified into fully autonomous, semi-autonomous, and remotely-operated. The fully autonomous segment will witness the fastest growth during the forecast period. The segment's growth is attributed to the increased presence of the flight planning system (FPS) and command delivery system (CDS) in fully autonomous drones or UAVs.

Drone-in-a-Box (DiaB) Segment to Garner Major Share Due to Increasing Demand

Based on fully autonomous, the market is divided into individual autonomous systems and Drone-in-a-Box (DiaB). The Drone-in-a-Box segment is estimated to have the fastest growth during the forecast period owing to the increasing use of Drone-in-a-Box (DiaB) in various plant operations by capturing aerial video and transferring real-time data to the operators.

Rising Securing System Demand Worldwide to Propel Segment Growth

By solutions, the market is classified into aerostructures & mechanisms, securing system, operating software, tethering cord, power sources & management system, and others. The securing system segment will be the fastest-growing segment during the forecast period. The demand for securing systems worldwide is increasing due to the increase in cyber-attacks on UAVs.

Increased Usage of Medical Drones During Pandemic Propelled Emergency Medical Logistics Segment

By application, the market is segmented into perimeter security & border management, combat, and combat support missions, situational awareness, disaster management & first responders, surveying, mapping, & monitoring, precision agricultural management, power station management, asset & operations management, emergency medical logistics, and others. Emergency medical logistics will register the fastest growth during the forecast period. The increasing popularity of medical drones during the pandemic to supply medical equipment has driven the emergency medical logistics segment.

Rising UAV Flight Experiments Worldwide to Bolster Hospitals & Emergency Medical Services

By end-user, the market is segmented into government & defense, energy, power, oil & gas, construction & mining, agriculture, forestry & wild life conservation, public infrastructure & homeland security, hospitals & emergency medical services, transportation & logistics, event management, and others. The hospitals & emergency medical services segment will have the fastest growth rate during the forecast period due to the increasing adoption of Unmanned Aerial Vehicle (UAV) experiments and tests for various medical applications worldwide.

Geographically, the market is studied across North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America.

Report Coverage-

The report offers:

• Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
• Comprehensive insights into regional developments.
• List of major industry players.
• Key strategies adopted by the market players.
• The latest industry developments include product launches, partnerships, mergers, and acquisitions.

Drivers & Restraints-

Rising Demand for Commercial Applications to Propel Market Growth

Unmanned Aerial Vehicle (UAV) or drones are being rapidly deployed for commercial applications, further propelling market growth during the forecast period. Several companies observe UAVs as more efficient and economical options for product delivery as they can avoid traffic and provide faster delivery.

However, strict rules and regulations for drone usage in certain countries may hamper market growth.

Regional Insights

Increased Airforce Defense Budget to Boost Market Growth in North America

North America holds the largest Unmanned Aerial Vehicle (UAV) market share. The region’s dominance is attributed to the increased Airforce defense budget, which raised the fixed-wing UAV demand in the U.S.

Asia Pacific is expected to experience fast growth during the forecast period owing to the high adoption rate of heavy-duty unmanned aerial vehicles (UAVs) in China's commercial and defense sectors.

Competitive Landscape

Growing Key Players Focus on Development of Advanced Technology to Drive Market Growth

The Unmanned Aerial Vehicle (UAV) market consists of major players, including DJI, Yuneec, and Parrot. These companies accounted for the largest market share in 2022. The companies are shifting their focus to developing advanced UAV technologies to strengthen their position in the market.

Notable Industry Development

• January 2025   –   Tata Elxsi   and   CSIR–National Aerospace Laboratories (CSIR-NAL)   signed a Memorandum of Understanding (MoU) to form a strategic collaboration aimed at advancing   Advanced Air Mobility (AAM)   technologies in India.

• January 2025   – Japan’s   Acquisition, Technology & Logistics Agency (ATLA)   entered into a contract with   Boeing Japan Co., Ltd.   to conduct   research and development of Unmanned Aerial Vehicles (UAVs)   intended for   combat operations alongside manned aircraft .

• July 2024   –   Thales   and   Garuda Aerospace   signed a Memorandum of Understanding (MoU) to drive   innovation in India’s drone industry . Under the agreement, Thales will contribute its expertise in   Unmanned Traffic Management (UTM) ,   UAV detection , and   system integration , while Garuda Aerospace will leverage its capabilities in   UAV manufacturing, deployment , and   local market knowledge . The partnership aims to build a strategic foundation for strengthening the UAV ecosystem in India.

The global   UAV simulator market   size is projected to reach USD 5670.42 million by 2032, exhibiting a CAGR of   18.00% during the forecast period. Deployment of drones to combat the COVID-19 pandemic has brightened the prospects of this market, finds Fortune Business Insights™ in its report, titled “ UAV Simulator Market Size, Share & Industry Analysis, By Product Type (Fixed Wing, Quad-copter, Helicopter), By Components (Hardware, Software) By Platform (Military & Defense and Commercial) and Regional Forecast, 2020-2027 ”. Unmanned aerial vehicles (UAVs) have been playing a critical role in aiding countries navigate their economies through the coronavirus crisis. For example, in Switzerland, Swiss Post and Matternet teamed up to utilize drones to transport lab samples between hospitals in three Swiss cities. Wing, a company owned by Alphabet (Google’s parent company), has been actively partnering with local shops in Australia, Finland, and Virginia (USA) to deliver consumer goods to customers. The unusual circumstances created by COVID-19 have, thus, presented UAV with a unique opportunity to visualize different crisis scenarios and develop UAV simulators embedded with such backdrops to train pilots and operators and prepare them in a more efficient manner.

As per the report, in 2019, the market’s value stood at USD 659.4 million. The report also features the following highlights:

• Comprehensive examination of the prime market drivers, trends, and restraints;
• Intelligent projections about the upcoming opportunities in the market;
• Holistic analysis of the different market segments; and
• Thorough research into the regional dynamics & competitive landscape of the market.

List of Key Companies Profiled in the UAV Simulator Market Report:

• Leonardo S.P.A (Italy)
• SILKAN (France)
• Zen Technologies Ltd. (India)
• Textron Inc.
• L3 Harris Technology Inc.
• General Atomics Aeronautical Systems Inc. (U.S)
• Singapore Technologies Electronics Limited (Singapore)
• Northrop Grumman Corporation (U.S.)
• Israel Aerospace Industries Ltd. (IAI)
• CAE Inc. (Canada)

Source:

https://www.fortunebusinessinsights.com/uav-simulator-market-104081

Driving Factor

Incorporation of Virtual & Augmented Reality in Drone Simulations to Fuel the Market

The UAV simulator market growth is getting positively influenced by the integration of virtual reality (VR) and augmented reality (AR) in drone simulation systems by companies. For example, DronOSS, a German UAV startup, has adopted AR tools to simulate obstacles and lifelike structures to train drone pilots. The sensors and cameras attached to the drone allow the operator to pilot the device, with the aim to minimize the probability of crashing the drone in a real-world situation. Similarly, in 2018, engineers at the Massachusetts Institute of Technology (MIT) created a novel VR-based training system for UAVs that allow these vehicles to see a virtual environment while flying through empty space. The system has been conceived to reduce the number of drone crashes during actual training sessions. Recognizing the potential of drones in carrying out different functions, several industry verticals have been deploying these devices to conduct critical operations. Xcel Energy, for instance, became the first utility in the US to use a beyond the visual line of sight (BVLOS) drone for inspection activities. Increasing usage of VR and AR to make UAVs smarter is fostering the long-term growth prospects of this market.

Regional Insights

Investments by Private Players in Drone Technology to Stimulate Market Growth in North America

North America dominated the UAV simulator market share in 2019, boasting a market size of USD 250.6 million. The primary reason for the region’s leading market position is the huge investments made by private drone companies and defense entities towards advancing drone technologies. Further, these companies are aggressively strengthening their partnerships with the region’s armed forces, thereby promoting the adoption of UAVs for military operations.

The market in Asia Pacific is poised to make prolific progress as countries in the region are steadily increasing their defense budgets and actively teaming up with private drone contractors. In Europe, policies framed by the European Commission to support the future growth of the region’s aviation industry are expected to generate numerous opportunities for drone makers in the next few years.

Competitive Landscape

Proactive Government Initiatives to Create Healthy Competitive Climate

Active participation of governments to acquire modern drone technologies is prompting key players in this market to raise their investments in innovation and R&D. Aside from this several governments are also engaged in providing high-quality training to pilots and operators using UAV simulators to bring new efficiencies in their military surveillance systems.

Industry Developments:

• November 2020:   India’s Ministry of Civil Aviation launched a program to recruit and train UAV pilots as part of its ambition to make the commercial deployment of drones a reality in the country. The Indira Gandhi Rashtriya Udaan Academy, a flight training owned by the government, will be expanding its facilities to train drone pilots.
• November 2020:   Beihang UAS Technology, a Chinese UAV specialist, secured a contract worth 95.5 million baht from the Royal Thai Army (RTA) to develop and deliver a UAV flight simulator to the Artillery Division of the RTA.

The global   military vetronics market   size is projected to reach USD 11.48   billion by 2032, exhibiting a CAGR of   4.50% during the forecast period. Development of autonomous combat systems for military vehicles will ensure multi-dimensional growth of this market, observes Fortune Business Insights™ in its report, titled “ Military Vetronics Market Size, Share and Global Trend by Product Type (Communication & Navigation Systems, Power System, Display System, C4 Systems, and Others) By Platform (Unmanned Ground Vehicles, Armored Amphibious Vehicles, Light Protected Vehicles, Special Purpose Vehicles, and Others) By Application (OEM and Aftermarket), and Regional Forecast, 2020-2027 ”. Battlefield environments are rapidly changing and modern warfare strategies require a heavy infusion of smart technologies to enhance alertness and augment the capabilities of the armed forces. In view of these evolving dynamics, defense agencies are conducting intense research to develop new technologies and equip combat vehicles with smart tools. For example, the Army Research Laboratory Artificial Intelligence for Maneuver and Mobility (AIMM) program under the U.S. Army Combat Capabilities Development Command aims to create AI-enabled vehicles that can serve robotic partners to ground troops, boosting their strength and combat capacities. The incorporation of next-generation technologies such as AI in defense systems will open new doors of innovation in the military vetronics domain.

The report states that the market value stood at USD 6.48 billion in 2019 and offers the following:

• Careful segmentation of the market and detailed analysis of each segment;
• Unparalleled insights into the market drivers, trends, and challenges;
• Comprehensive evaluation of the regional dynamics of the market; and
• In-depth research into the key players’ profiles and their preferred strategies.

List of Key Companies Profiled in the Military Vetronics Market Report:

• Curtis Wright Corporation (The U.S.)
• Thales Group (France)
• Rheinmetall AG (Germany)
• Lockheed Martin Corporation (The U.S.)
• L3Harris Technologies, Inc. (The U.S.)
• BAE Systems (The U.K)
• Oshkosh Corporation (The U.S.)
• Saab AB (Sweden)
• Raytheon Technologies Corporation (The U.S.)
• Leonardo S.p.A (Italy)
• General Dynamics Corporation (The U.S.)

Source:   https://www.fortunebusinessinsights.com/military-vetronics-market-104062

Restraining Factor

Economic Fallout of COVID-19 to Lead to Defense Cuts in Several Countries

The global economic crisis precipitated by the COVID-19 pandemic has forced countries to reprioritize their spending. According to the World Bank, the world economy could shrink by 8% in 2020, if financial crises in major economies continue to intensify. The International Monetary Fund (IMF) projects that output from the Eurozone could decline by 10.2% in 2020, with recovery expected to begin towards the end of 2022. These projections have spelled serious for defense sectors in most of the major economies. In India, for example, the Indian Finance Ministry instructed ministries to cut their expenditures and experts believe that defense cuts could go as low as 40% in 2020. Moreover, the nationwide lockdown between March and May 2020 led to an estimated loss of USD 3 billion for Indian defense companies. In the UK, the government has suspended budget announcement for 2021 and has undertaken an Integrated Security and Defense Review to rethink spending priorities, which are likely to lead to defense budget cuts. The military vetronics market growth is likely to suffer in this scenario.

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Regional Insights

North America Market to Gain Momentum Powered by High Defense Spending by the US

In 2019, North America led the military vetronics market share with a market size of USD 2.22 billion and is expected to continue its impressive performance during the forecast period. This is primarily attributable to the massive military expenditure of the US. The country is also making heavy investments in developing and procuring advanced military technologies, which will further drive the regional market.

In Asia Pacific, China and India are shaping the market dynamics as both countries have steadily expanded their military budgets over the past few decades. Furthermore, the constant threat of terrorist activities and increasing cross-border animosity among countries is also supporting the adoption of advanced defense technologies in the region.

Competitive Landscape

Key Players to Focus on Engaging with Government Defense Agencies

Competition in this market is characterized by the deepening engagement between government defense agencies and private defense companies. The main reason behind these public-private collaborations is that private companies provide the necessary technologies, while government agencies provide the required financial support, creating an exciting dynamic in the defense sector.

Industry Developments:

• In July 2021 , the U.S. Army awarded a   USD 72.5 million contract   to   BAE Systems   to equip its   M109A7 armored combat vehicles   with advanced   digital vetronics   and an upgraded   modern power system . This upgrade aims to enhance the vehicle’s battlefield performance and operational efficiency.

• In June 2021 ,   BAE Systems   selected   Elbit Systems   to supply   vetronics sensors and active protection systems   for the   CV90 , a Swedish tracked armored combat vehicle. Originally developed in the   mid-1980s , the CV90 entered operational service in   Sweden in the mid-1990s   and continues to evolve with modern electronic systems.

The global   automatic weapons market   size was valued at USD 8.09 billion in 2022 and is expected to be worth USD 8.62 billion in 2023. The market is projected to reach USD 13.83 billion by 2030, recording a CAGR of 7% during the forecast period.

Automatic weapons refer to a combination of semi-automatic and fully automatic firearms that can be fired continuously once the trigger is pulled hard or when there is ample ammunition in their chamber. Rising cross-border tensions among countries across the world has greatly increased the demand for innovative weapons. Many economies are boosting their investments in the development of advanced weapons due to war-like scenarios, thereby enhancing the global automatic weapons market growth.

LIST OF KEY COMPANIES PROFILED IN THE REPORT

• BAE Systems (U.K.)
• Denel Land Systems (South Africa)
• FN Herstal (U.K.)
• General Dynamics Corporation (U.S.)
• Kalashnikov Concern (Russia)
• KBP Instrument Design Bureau (Russia)
• Northrop Grumman Corporation. (U.S.)
• Rheinmetall AG (Germany)
• ST Engineering (Singapore)
• Israel Weapon Industries (IWI) (Israel)

Source:  

https://www.fortunebusinessinsights.com/automatic-weapons-market-103524

Segmentation:

Growing Need for Automatic Rifles from Many Armed Forces to Expand Market Size

Based on product, the market is segmented into automatic rifles, machine guns, automatic launchers, automatic cannons, and Gatling guns. The automatic rifle segment is set to capture a dominant automatic weapons market share during the forecast period as the demand for these weapons is rising at a robust pace among several armed forces.

Rising Demand for Semi-Automatic Weapons in Different Countries to Boost Market Growth

Based on type, the market is bifurcated into fully automatic and semi-automatic. The semi-automatic segment may account for the largest market share as the demand for semi-automatic weapon systems is growing at a notable rate in countries, such as India, Ukraine, Pakistan, and Syria to keep border tensions under control.

Small-Caliber Assault Rifles to be Widely Used for Their Better Performance

Based on caliber, the market is segmented into small caliber, medium caliber, and large caliber. The small caliber segment is expected to have a leading share in the market during the forecast period as small-caliber assault rifles are offer better performance, higher penetration range, and are quite lethal while carrying out battlefield operations.

Rising Instances of Ground Warfare to Boost Product Use in Land-based Operations

Based on end-user, the market is segmented into land, naval, airborne, and handheld & stationery. The land segment is expected to hold the largest market share due to the rising use of battle tanks, Light-Protected Vehicles (LPVs), Armored Fighting Vehicles (AFVs), and battle tanks.

With respect to region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Report Coverage:

The research report analyzes the market in detail and focuses on critical aspects, such as market scenario analysis, significant trends, top-impacting factors, impact analysis, drivers, caliber, types, and key technological trends. In addition, it offers an overview of the market’s growth and trends, and highlights top developments in the industry. The report also introduces many factors that have influenced the market’s growth in recent years.

Drivers and Restraints:

Rising Cross-Border Conflicts to Accelerate Market Growth

The market is predicted to witness strong growth in the coming years as the number of internal conflicts are increasing in various nations across the world. Governments are also raising their spending on national defense mechanisms to fortify their military power. The growing need to protect the military personnel will also drive the market’s growth.

However, high initial cost of developing precision firearms can restrain the market’s expansion.

Regional Insights:

North America Market to Grow Steadily With Rising Presence of Top Market Players

North America is predicted to capture the biggest share in the global market as the region has a vast presence of top manufacturers, such as Northrop Grumman Corporation, General Dynamics Corporation, and Colt’s Manufacturing Company LLC. The American government is also trying to fortify its vast portfolio of Armored Fighting Vehicles (AFVs), battles, automatic weapons, and Light-Protected Vehicles (LPVs).

The European market is also anticipated to grow at a considerable rate due to rising investments from key market players.

Competitive Landscape:

Key Players to Focus on Technological Innovations to Boost Market Position

Market trends, such as the design of laser weapons, modular advanced armed robot system, Personnel Interception and Stimulus-Response Rifle (PHASR), and XM25 Anti-defilade Target Counter are the future of this industry. Moreover, other factors, such as diverse product range, R&D activities by key market players, and introduction of futuristic technologies will shape the market landscape.

Notable Industry Development:

• March 2023 –   Sako, a Finnish ammunition producer, announced that it will deliver new individual firearms to the Finnish and Swedish armies. The joint framework agreement between the defense forces and Sweden made Sako the sole supplier of firearms to both the armies. The contract, valued at USD 83.1 million, includes 5.56x45mm and 7.62x51mm caliber automatic weapons, 7.62x51mm precision weapons, and .338 Lapua Magnum rifles.

According to Fortune Business Insights , the global   small drone market   size   was valued at   USD 14.04 billion in 2022   and is projected to grow from   USD 16.90 billion in 2023   to   USD 77.00 billion by 2030 , exhibiting a robust   CAGR of 24.2%   during the forecast period. This remarkable growth is driven by the expanding use of small drones across   defense, consumer, commercial, and civil sectors   for applications such as surveillance, aerial mapping, delivery, and reconnaissance.

The report, titled   “Small Drone Market Size, Share, Russia-Ukraine War Impact & COVID-19 Impact Analysis, By Type (Fixed Wing, Rotary Wing, and Hybrid Wing), By Maximum Take-off Weight (Less than 5 Kg, 5–25 Kg, and Above 25–150 Kg), By Power Source (Fuel Powered and Battery Powered), By End-use (Defense, Consumer, Commercial, and Civil), and Regional Forecast, 2023–2030,”   provides a comprehensive overview of the industry’s evolving dynamics.

In 2022,   North America held the largest share of the global small drone market , accounting for   32.91% , driven by strong defense spending, widespread adoption of unmanned aerial systems (UAS), and the presence of   key   drone technology providers in the region.

Small drones are used in applications across diverse industry verticals. The ability of a small drone to examine and monitor activities in a short span of time will fuel the demand for the product across the world. Accounting to the widespread applications of the product, several companies are looking to invest more in the research and development of newer and advanced products. Increasing investments in product R&D will create several opportunities for market growth. The growing number of start-ups will bode well for the growth of the market in the coming years.

The report provides an in-depth analysis of the global small drones market. Forecast values have been provided for the market for the period of   2025-2030. The factual figures have been obtained through trusted sources. Moreover, these predictions are made on the basis of extensive research analysis methods, coupled with the opinions of experienced market research professionals. It highlights the latest product launches and recent innovations in the market and states their impact on the growth of the market. The competitive landscape has been discussed in detail and predictions are made with respect to leading companies and products in the coming years.

Key Market Players:

Some of the leading companies that are operating in the global small drones market are:

• 3D Robotics
• DJI
• Parrot Drones SAS
• AeroVironment, Inc.
• 3DR
• YUNEEC
• EHANG
• Kespry
• INSITU
• Delair
• AguaDrone.com
• Textron
• Autel Robotics USA

Source :

https://www.fortunebusinessinsights.com/small-drones-market-102227

Segmentation:

By Type:   The market is segmented into fixed wing, rotary wing, and hybrid wing. The   rotary wing segment   dominated in 2022 due to its lightweight design and flight stability, making it suitable for surveillance and inspection.   Fixed wing drones   are expected to grow due to their ability to cover long distances, ideal for delivery and transportation.

By Maximum Take-off Weight:   The   5–25 kg segment   leads the market and is projected to grow rapidly due to rising demand in defense, rescue, and industrial inspections. The   less than 5 kg segment , including nano and mini drones, also holds a substantial share, driven by commercial applications like aerial photography and monitoring.

By Power Source:   The market is divided into fuel powered and battery powered drones.   Fuel powered drones   dominated in 2022 due to higher payload capacity needs. However,   battery powered drones   are gaining traction for being eco-friendly, efficient, and quieter, making them suitable for commercial and civil use.

By End-use:   The   defense segment   held the largest market share in the base year due to increasing military surveillance needs. The   commercial segment   is also growing steadily, driven by applications in photography, renewable energy, and oil & gas sectors.

Increasing Number of Military Defence Contract to Aid Growth:

The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of military contracts for small drones will have a positive impact on the growth of the market. The increasing investment in R&D of the product will yield better products. In a bid to establishing a stronghold in the market, several companies are looking to acquire long term military contracts to enhance their market share in the small drone market. In August 2019, Aerovironment signed a contract with the United States Army for the supply of new drones. The contract is said to be worth USD 45 million, wherein Aerovironment will supply RQ-11B Raven drones to the US Army. US Army’s collaboration with Aerovironment will not only help the company grow but will have a direct impact on the growth of the global market in the coming years.

North America Leads the Global Market; Increasing Investments in Product R&D to Aid Growth:

The market is segmented on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in North America is projected to witness considerable growth in the coming years, driven by the high investments in the R&D of newer products. As of 2018, the market in North America was worth USD 3.16 billion and this value is projected to increase further in the coming years. Besides North America, Asia Pacific is projected to witness considerable growth, accounting to the high demand for small drones in emerging countries such as India and China.

Industry Developments:

March 2023   – The   Federal Aviation Administration (FAA)   authorized the   Pearland Police Department   in Texas to operate drones   Beyond Visual Line of Sight (BVLOS)   without requiring visual observers. This approval supports the department’s   Drone as First Responder (DFR)   program, aimed at improving emergency response efficiency and situational awareness during critical incidents.

February 2023   – A scientific team successfully deployed the   Autel EVO Lite+ drone   into the active main crater of   Costa Rica’s Irazú volcano . Equipped with a   6K camera , the drone captured high-resolution imagery to monitor lake water levels, mineral formations, and volcanic gas vents, contributing valuable data for geological research and hazard assessment.

According to Fortune Business Insights , the global   military communications market  was valued at   USD 33.12 billion in 2023   and is projected to grow from   USD 34.74 billion in 2024   to   USD 60.40 billion by 2032 , exhibiting a   compound annual growth rate (CAGR) of 7.2%   during the forecast period. This significant growth is primarily driven by the rapid integration of   wireless communication systems ,   secure satellite networks , and   modern battlefield management tools   across defense forces worldwide.

Fortune Business Insights highlights that the   growing importance of real-time, secure, and multi-domain communication infrastructure   is a key force behind this market expansion. In 2023,   North America dominated the global military communications market , accounting for a   market share of 31.49% , attributed to robust defense spending, advanced technological infrastructure, and the presence of major defense contractors.

Key Market Players

The market is highly consolidated, with key players focusing on   R&D ,   strategic collaborations , and   government defense contracts   to expand their portfolio. Leading companies include:

• 
  

  ASELSAN AS (Turkey)

• 
  

  Cobham PLC (UK)

• 
  

  General Dynamics Corporation (USA)

• 
  

  Honeywell International Inc. (USA)

• 
  

  Iridium Communications Inc. (USA)

• 
  

  L3Harris Technologies Inc. (USA)

• 
  

  Lockheed Martin Corporation (USA)

• 
  

  Northrop Grumman Corporation (USA)

• 
  

  Raytheon Technologies Inc. (USA)

• 
  

  Rohde & Schwarz (Germany)

• 
  

  Thales Group (France)

• 
  

  Viasat Inc. (USA)

• 
  

  BAE Systems PLC (UK)

These firms are adopting a mix of   organic growth strategies   (such as new product development) and   inorganic strategies   (including mergers and acquisitions) to strengthen their global footprint.

Source:  https://www.fortunebusinessinsights.com/military-communications-market-102696

Market Segmentation

• 
  

  By Component:
  The market is segmented into   Hardware   and   Software . Hardware dominates the segment due to the high demand for radios, antennas, and rugged communication systems in defense operations, while software is gaining traction for enabling encryption, network management, and signal processing.

• 
  

  By Technology:
  Technologies include   HF Communication ,   VHF/UHF/L-Band ,   Data Link , and   SATCOM . SATCOM is emerging as the fastest-growing segment, driven by its ability to provide secure long-range communication. VHF/UHF systems are widely used in tactical field communication, while data links ensure real-time data exchange between platforms.

• 
  

  By Platform:
  Based on platform, the market is categorized into   Ground ,   Airborne ,   Naval , and   Space . Ground-based communication holds the largest share due to widespread land force deployments, followed by airborne and naval systems. Space-based platforms are gaining prominence with increasing satellite communication programs.

• 
  

  By Application:
  The key application areas are   Intelligence, Surveillance & Reconnaissance (ISR) ,   Command & Control ,   Situational Awareness ,   Routine Operations , and   Others . ISR leads the segment as defense agencies prioritize data-driven decision-making, while command & control systems are essential for mission coordination.

Key Growth Drivers

According to the report, the   increasing reliance on wireless and satellite-based communication technologies   is transforming the defense sector. Armed forces are prioritizing   interoperability, mobility, and encryption , with a strong shift from traditional wired systems to   UHF ,   VHF/UHF/L-Band , and   SATCOM   platforms.

Key drivers include:

• 
  

  Rising global   defense spending   and cross-border tensions prompting rapid modernization.

• 
  

  Growing need for   real-time intelligence sharing ,   ISR (Intelligence, Surveillance, and Reconnaissance)   capabilities, and   situational awareness   in active combat zones.

• 
  

  Rising demand for   command and control (C2)   systems to support joint operations across ground, air, sea, and space.

• 
  

  Integration of   AI, software-defined radios (SDRs) , and   secure IP-based tactical networks .

However, the report also notes that   high initial development and deployment costs , particularly for advanced SATCOM infrastructure, may pose a restraint on market growth—especially for lower-income defense markets.

Rising Trend: SATCOM Drives Strategic Transformation

One of the most prominent trends, as highlighted by   Fortune Business Insights , is the   growing use of SATCOM (Satellite Communication)   technology to support encrypted, long-range, and real-time communications in remote or contested environments. SATCOM systems are increasingly being adopted to facilitate:

• 
  

  Global military coordination

• 
  

  Unmanned aerial vehicle (UAV)   operations

• 
  

  Secure naval fleet communications

• 
  

  Cross-theater tactical coordination

Regional Analysis

North America: Market Leader

North America is expected to dominate the global market due to the presence of major defense contractors and communication technology providers such as:

• 
  

  Raytheon Technologies

• 
  

  Honeywell International

• 
  

  Northrop Grumman

• 
  

  L3Harris Technologies

• 
  

  Collins Aerospace

The United States, in particular, is heavily investing in   multi-domain operations   (MDO),   network-centric warfare , and space-based communications to maintain strategic superiority.

Europe: Strong Growth via Modernization

Europe is projected to hold the second-largest market share, driven by rising defense budgets in   Germany ,   France , and the   United Kingdom . The presence of established players like   Thales Group   and   Cobham PLC , who offer advanced naval and airborne communication solutions, further supports market growth.

Asia-Pacific: Fastest Growing Region

The Asia-Pacific region is witnessing the   fastest market growth , driven by increasing military expenditures and aircraft procurements in   India ,   China , and   South Korea . The region is focusing on   network-enabled capabilities   and expanding indigenous defense production to support long-term strategic autonomy.

Recent Developments

According to Fortune Business Insights , one of the most significant developments in the market occurred in   March 2024 , when the   U.S. Space Force awarded Boeing a USD 439.6 million contract   to manufacture the   WGS-12 military communication satellite .

WGS-12 is the twelfth satellite in the   Wideband Global SATCOM constellation , delivering critical high-capacity communication services to U.S. forces and allies. The satellite is designed to support   high-throughput, resilient communication links , including   anti-jam capabilities , across multiple domains.

Additionally, in   January 2021 , the   Thales Group   introduced the   Javelin Combat Net Radio , enhancing tactical C2 (command and control) communications in digitally enabled military formations.

According to the report, countries such as   Israel ,   Saudi Arabia ,   Brazil , and   UAE   are increasing their investments in military modernization, satellite communications, and border surveillance systems, presenting notable growth opportunities.

According to Fortune Business Insights , the global   smart weapons market   size was valued at   USD 18.99 billion in 2023   and is projected to grow from   USD 20.20 billion in 2024   to   USD 45.24 billion by 2032 , exhibiting a   CAGR of 10.61%   during the forecast period. This robust growth is attributed to rising global defense expenditure, which is driving countries to modernize their military capabilities through the adoption of next-generation precision weapon systems.

With increasing geopolitical tensions and evolving battlefield requirements, there is a growing focus on integrating smart, accurate, and technologically advanced weapons into military inventories.   North America dominated the market in 2023 , capturing   33.86%   of the global market share, largely due to high defense budgets and the presence of top-tier defense manufacturers in the region.

Example Development

February 2021   –   Rafael Advanced Defense Systems Ltd. , an Israeli defense technology leader, unveiled the   SPICE 250ER , a new member of its air-to-surface munition family featuring an integrated turbojet engine. The product was showcased at the   Aero India exhibition   in Bengaluru, India, representing advancements in long-range precision strike capabilities.

Key Companies Profiled in the Smart Weapons Market

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  BAE Systems (U.K.)

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  Lockheed Martin Corporation (U.S.)

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  Thales Group (France)

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  Northrop Grumman Corporation (U.S.)

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  General Dynamics Corporation (U.S.)

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  Raytheon Company (U.S., a Raytheon Technologies Company)

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  MBDA (France)

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  Boeing (U.S.)

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  Textron Inc. (U.S.)

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  Rheinmetall AG (Germany)

Source:  https://www.fortunebusinessinsights.com/smart-weapons-market-104058

Market Segmentation

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  By Product:   The market is segmented into   missiles ,   munitions ,   guided projectiles ,   guided rockets , and   directed energy weapons . These smart weapons are increasingly adopted for their high precision, range, and effectiveness in reducing collateral damage.

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  By Platform:   Classified into   air ,   land , and   naval   segments. The   land segment   is expected to experience notable growth due to increasing investments by governments to enhance ground-based defense operations and border security systems.

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  By Technology:   Divided into   laser guidance ,   infrared guidance ,   radar guidance ,   satellite guidance , and   others . These technologies are central to enhancing target accuracy and operational effectiveness under various combat scenarios.

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  By Region:   Segmented into   North America ,   Europe ,   Asia-Pacific , and   Rest of the World , with each region displaying unique growth trends based on defense strategies, budgets, and modernization efforts.

What Does the Report Include?

The report provides:

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  A comprehensive analysis of smart weapons by product, platform, technology, and region

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  Insights into the competitive landscape and strategies of key players

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  Trends in product development, pricing, and innovation

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  Recent industry partnerships, mergers, and acquisitions

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  Key growth drivers, challenges, and market opportunities

Driving Factors

Increasing Global Defense Budget to Fuel Market Expansion

Global defense spending continues to climb as nations prioritize security and technological superiority. The   U.S. allocated USD 732 billion   in its 2020 defense budget, focusing on modernizing military systems, including smart weapons. Similarly, European and Asian countries are heavily investing in precision-guided munitions to strengthen deterrence capabilities and adapt to evolving threats.

Regional Insights

North America

North America led the global market in 2023, supported by its advanced military infrastructure and strong presence of industry leaders like   Lockheed Martin ,   Boeing ,   Raytheon Technologies , and   Northrop Grumman . The region accounted for   USD 5.79 billion   in 2020 and is projected to maintain its dominance through 2032.

Asia-Pacific

The Asia-Pacific region is set to experience significant growth, driven by escalating regional tensions, increasing defense allocations, and rising adoption of smart munitions by countries like   India ,   China , and   South Korea .

Competitive Landscape

The smart weapons market is characterized by intense competition among major defense OEMs. These companies are:

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  Investing in R&D to develop next-gen smart weapons

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  Forming strategic alliances and defense contracts

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  Expanding their global footprint through mergers and acquisitions

These strategic efforts aim to meet evolving battlefield demands and secure long-term government contracts.

Industry Developments

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  January 2021   – India’s   Defense Research and Development Organization (DRDO)   successfully conducted a test of its   Smart Anti-Airfield Weapon (SAAW)   using the   Hawk-I jet   developed by   Hindustan Aeronautics Limited (HAL) . This marked a major step forward in India’s indigenous smart weapons development initiative.

According to Fortune Business Insights , the global   process spectroscopy market  was valued at   USD 15.93 billion in 2023   and is projected to grow from   USD 20.41 billion in 2024   to   USD 116.49 billion by 2032 , exhibiting a   CAGR of 24.3%   during the forecast period. The rapid adoption of spectroscopy technologies for real-time analysis, product quality assurance, and cost efficiency is driving market expansion across industries.

What is Process Spectroscopy?

Process spectroscopy is an analytical technique used to examine end products in various industries, enabling companies to maintain quality standards, reduce operational time, and lower surveillance costs. Its growing adoption in pharmaceutical safety testing and food inspection applications is significantly boosting the global market.

Key Players in the Process Spectroscopy Market

Fortune Business Insights   lists several major players actively shaping the market landscape:

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  Agilent Technologies Inc. (U.S.)

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  ABB (Switzerland)

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  BUCHI Labortechnik AG (Switzerland)

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  Bruker Corporation (U.S.)

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  Danaher Corporation (U.S.)

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  Foss A/S (Denmark)

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  HORIBA, Ltd. (Japan)

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  Kett Electric Laboratory (Japan)

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  Shimadzu Corporation (Japan)

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  Sartorius AG (Germany)

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  Thermo Fisher Scientific Inc. (U.S.)

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  Yokogawa Electric Corporation (Japan)

Source:   https://www.fortunebusinessinsights.com/process-spectroscopy-market-105549

Market Segmentation

By Type

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  Nuclear Magnetic Resonance (NMR) Spectroscopy   held the largest market share in 2022.
  According to   Fortune Business Insights , this growth is attributed to NMR’s ability to assess the chemical, biological, and physical properties of matter, especially in healthcare and chemical industries.

By Technology

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  Atomic Absorption Spectroscopy (AAS)   led the technology segment in 2022.
  Its cost-effectiveness and ease of operation make AAS ideal for a wide range of applications, boosting its market share.

By End-User

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  Food & Beverage   emerged as the dominant end-user in 2022.
  The use of spectroscopy to analyze nutritional value, food quality, and micronutrient composition is accelerating adoption in this sector.

By Component

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  The   hardware segment   accounted for the largest share in 2022, driven by extensive R&D investments and technological advancements in spectroscopy instrumentation.

Market Drivers and Challenges

Growth Drivers

According to   Fortune Business Insights , the demand for   specialized and high-quality products   has significantly increased across sectors such as pharmaceuticals, food & beverages, and materials science. Process spectroscopy is crucial in qualifying and identifying chemical compounds in real time, enabling industries to maintain rigorous quality standards.

Challenges

Despite the growing demand,   high initial setup and maintenance costs   of spectroscopes are expected to pose a challenge for market adoption, especially for small and mid-sized enterprises.

Regional Insights

North America

North America held a major market share in 2022. According to   Fortune Business Insights , factors such as favorable government initiatives, rapid technological advancements, and the strong presence of major players like Danaher Corporation, Bruker Corporation, and Thermo Fisher Scientific are driving growth in the region.

Europe

The European market is expected to witness robust growth over the forecast period. Supportive government regulations, funding programs, and continuous innovation by companies will contribute to regional market expansion.

Asia Pacific, South America, Middle East & Africa

These regions are also expected to show significant growth due to increased industrialization, growing demand for quality assurance solutions, and expansion of pharmaceutical and manufacturing sectors.

Competitive Landscape

Fortune Business Insights   notes that leading market players are heavily investing in   research & development   to enhance product capabilities and meet sector-specific demands. Companies are also focusing on facility expansion, strategic partnerships, and new product launches to strengthen their global footprint.

Recent Industry Development

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  May 2024   – A number of leading spectrometer manufacturers and suppliers showcased their latest innovations at   Analytica 2024   in Munich, Germany. Participating companies included   Analytik Jena ,   WITec ,   Agilent ,   Bruker ,   Hamamatsu ,   Horiba , and   Tosoh Bioscience , all unveiling new instruments and technologies designed to enhance spectroscopy applications across various industries.

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  January 2024   –   Bruker Corporation (BRKR)   acquired   Tornado Spectral Systems Inc. , a Canadian firm specializing in the development of advanced   process Raman spectroscopy instruments . The acquisition strengthens Bruker's capabilities in providing cutting-edge solutions for   pharmaceutical and biotechnology quality control .