Drone market to grow USD 10.8 billion by 2028

The combat drone market is projected to grow from USD 7.2 billion in 2023 to USD 10.8 billion by 2028, at a CAGR of 8.6% from 2023 to 2028, according to Research and Markets.

The global combat drone market is experiencing significant growth driven by the surging demand for unmanned systems within the defense sector. The integration of disruptive technologies into modern warfare has fueled the need for specialized and strategic drones in military operations.

Countries across the world are actively engaging in research and development initiatives to explore and expand the applications of combat drones. With a focus on efficiency and versatility, combat drones are proving their worth in low-altitude flights, finding utility in various military tasks even in hostile environments.

Serving both in times of conflict and peace, these drones are adept at reducing pilot risks and enhancing aeronautical capabilities for defense forces. Embraced by defense sectors globally, combat drones present advantages such as lower operational costs compared to manned aircraft, making them a preferred choice for defense applications.

The increasing budgetary constraints, coupled with a decline in the recruitment of defense personnel and equipment by the US and European countries, have led to the requirement for developing cost-effective defense equipment to carry out several military missions.

Continuously changing modern warfare techniques require conducting critical missions in populated areas using combat drones. Moreover, the availability of advanced navigation as well as satellite communication technologies has led to highly viable remote operations being conducted by these drones.

Combat drones can reduce collateral damage while hovering, searching, and identifying targets, which makes them an invaluable asset to the military sector. Besides, companies operating in the combat drone market are focusing on improving the technological capabilities of these drones.

Based on the platform, the strategic segment is to grow at a higher market share during the forecast period.
Based on the platform, the combat drone market has been classified into small, tactical, and strategic drones. The strategic drone segment is to grow at a higher CAGR during the forecast period. The strategic segment held the majority share of the market in 2022 and is estimated to hold its dominance during the forecast period owing to the high price of HALE and MALE drone platforms.

Based on application, the lethal segment is to grow at the highest market share during the forecast period.
Based on the application segment, the combat drone market has been classified into lethal, stealth, loitering munition, and target drone. The loitering segment is to grow at the highest CAGR during the forecast period. Lethal drones or lethal autonomous weapons are autonomous military systems that can individually search for targets and destroy them based on programmed limitations and descriptions.

A loitering munition drone can be described as an advanced, autonomous drone equipped with explosive payloads designed to loiter or hover over a designated area for an extended period. The loitering munition segment is further sub-segmented into recoverable and expendables.

North America is expected to hold the highest market share.
North America is projected to lead the combat drone market in 2023. The US is the largest market for combat drone market in North America. North America is a politically stable region owing to the stable governments of countries in the region. The US and Canada have good business relations and are home to some key players operating in the combat drone market.

North America has been at the forefront of the technological revolution taking place globally. Canada and the US are pioneers in science and technology. Drones have been used for a long time in defense and commercial sectors worldwide. Since the beginning, the region has been a leader in technological advancements.

Though North America faced competition from some other developed and developing regions, it continues to retain its supremacy in the technological field. Research and Markets