At 9.1% CAGR, the Europe Military Drones Market is projected to be worth US$ 5,931.60 million by 2028, says Business Market Insights

According to Business Market Insights research, the Europe military drones market was valued at US$ 3,834.49 million in 2023 and is expected to reach US$ 5,931.60 million by 2028, registering a CAGR of 9.1% from 2023 to 2028. Increasing Number of contracts for military drones and surge in global defense sector are the critical factors attributed to the Europe military drones market expansion.        

A cargo air vehicle (CAV), used to carry different materials, is one of the latest drone technologies. Transportation of goods through drones has proven benefits compared to traditional ways of transportation, such as helicopters and airplanes. Cargo drones are cheaper and more versatile than the abovementioned air carriers, and they require less maintenance. They have elevated carrying power and need no direct human involvement. Cargo drones are used to carry lifesaving supplies at dangerous locations reducing risk to human life. Owing to such benefits, governments have started considering the procurement of such drones in several operations.

Many market players are engaged in providing drones that can lift heavy payloads and ease delivery services. Thus, with the increasing demand for drones for cargo operations, the availability of such drones is on the rise in the military cargo market, which indicates significant opportunities for the market players.

On the contrary, concern over battery endurance of military drones hampers the Europe military drones market.

Based on type, the Europe military drones market is segmented into group 1, group 2, group 3, group 4, and group 5. The group 5 segment held 32.7% share of Europe Military Drones Market in 2023, amassing US$ 1,253.18 million. It is projected to garner US$ 1,888.87 million by 2028 to expand at 8.6% CAGR during 2023–2028. 

Based on application, the Europe military drones market is segmented into ISR, warfare, and others. The ISR segment held 61.9% share of Europe Military Drones Market in 2023, amassing US$ 2,372.08 million. It is projected to garner US$ 3,739.64 million by 2028 to expand at 9.5% CAGR during 2023–2028.

Based on range, the Europe military drones market is segmented into short range, medium range, and long range. The medium range segment held 48.8% share of Europe Military Drones Market in 2023, amassing US$ 1,872.35 million. It is projected to garner US$ 2,979.59 million by 2028 to expand at 9.7% CAGR during 2023–2028.

Based on technology, the Europe military drones market is segmented into fixed wing and rotary wing. The fixed wing segment held 72.0% share of Europe Military Drones Market in 2023, amassing US$ 2,761.88 million. It is projected to garner US$ 4,207.89 million by 2028 to expand at 8.8% CAGR during 2023–2028.

Based on country, the Europe military drones market has been categorized into France, Germany, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that the Russia captured 30.9% share of Europe Military Drones Market in 2023. It was assessed at US$ 1,184.98 million in 2023 and is likely to hit US$ 1,748.04 million by 2028, exhibiting a CAGR of 8.1% during the forecast period.      

Key players dominating the Europe military drones market are AeroVironment Inc, BAE Systems Plc, Elbit Systems Ltd, General Atomics, Lockheed Martin Corp, Northrop Grumman Corp, Textron Systems Corp, Thales SA, The Boeing Co, and Israel Aerospace Industries Ltd., among others.

• In 2022, Thales and CS GROUP has been notified by the French defense procurement agency (DGA) to develop and deliver the PARADE drone countermeasures program capability, with firm commitments for €33 million out of a total program budget of €350 million over 11 years.

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