With the emergence and long-term Impact of COVID-19, Global Loitering Munition System Market to reach USD 3.04 Billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Loitering Munition System Market points towards a potential rise to USD 3.04 Billion by 2030. A Loitering Munition System is an Unmanned Aerial Vehicle (UAV) designed for a unique and versatile role in military applications. They are also known as suicide drones or kamikaze drones, characterized by their ability to loiter in a specified area for an extended period. These systems combine features of UAVs and guided missiles, providing a lethal capability to engage and attack targets with precision. The loitering capability allows for real-time intelligence gathering and the flexibility to assess and engage targets selectively.
These systems are equipped with sensors, cameras, and sometimes warheads, enabling them to carry out a variety of missions, including reconnaissance, surveillance, and the ability to strike ground targets with precision. The operator can remotely control the loitering munition or set it to an autonomous mode, where it can operate independently based on pre-programmed parameters. The Loitering Munition System Market is expanding because of factors such as rising deployment of advanced military technologies, rising government investment in research and development of loitering munition systems, and increasing focus on precision strike capabilities.
Geographically, the global Loitering Munition System market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022. The increasing focus on researching, developing, and implementing loitering munition in diverse battlefield scenarios is evident.
To minimize erroneous hits, there is a preference for manual positioning due to the requirement for Remote Operators. As an illustration, in September 2021, the United States Special Operations Command (USSOCOM) granted AeroVironment Inc. a firm-fixed-price contract amounting to USD 20.3 million for the procurement of the Switchblade 600 Tactical Missile System. The anticipated delivery of this system in 2023 would enhance operational flexibility, allowing deployment from both fixed and mobile platforms across sea, land, and air domains.
Asia Pacific is expected to grow at the fastest rate during the forecast period. Countries such as India, China, Japan, and others are significantly ramping up their investments in suicide drone projects. Furthermore, the regional market is poised to experience heightened activity due to the increased demand for manual positioning systems. Many nations have entered contracts to address border tensions and optimize operational costs. As an example, in September 2021, the Indian Army granted a contract worth USD 13.7 million to a joint venture between Israel’s Elbit Systems and the local company Alpha Design Technologies Ltd for the supply of 100 SkyStriker loitering systems.
The global Loitering Munition System market is highly competitive owing to the presence of several key players such as Israel Aerospace Industries Ltd. AeroVironment Inc. UVision Air Ltd. Paramount Group WB Group STM Defense Technologies Engineering and Trade Inc ZALA Aero Group Rheinmetall AG Elbit Systems Ltd. Embention, and others.
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Key findings of the study suggest:
- Global Loitering Munition System Market is anticipated to grow with a healthy growth rate of more than 14.2% over the forecast period 2023-2030.
- In the Type segment, Autonomous Identification and Positioning Loitering Munition System emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to the increasing focus on researching, developing, and implementing loitering munition in diverse battlefield scenarios is evident. To minimize erroneous hits, there is a preference for manual positioning due to the requirement for Remote Operators.
- Asia Pacific is expected to grow at higher rate followed by Europe during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
By Type:
- Autonomous Identification and Positioning Loitering Munition System
- Manual Positioning Loitering Munition System
By Application:
- Navy Force
- Land Force
- Air Force
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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