The loitering munitions market is expected to benefit from increased modularity, increased use of artificial intelligence (AI) and swarm technology, mission modules, and increased sensor capabilities over the forecast period. The rising adoption of unmanned systems is projected to offer various growth opportunities for the loitering munition market. Loitering munitions are engineered with seamless, persistent, and robust sensor-to-shooter links, ensuring the shortest loop between acquisition and targeting. Furthermore, integrating mission modules enables greater flexibility and a lower cost of operations, as intelligence, surveillance, and reconnaissance (ISR) roles can be fulfilled before a munition. Loitering munitions are anticipated to become a game-changer in artillery and fill the existing voids in surveillance-precision engagement capability between 40 and 200 km. Various countries are investing in enhancing their defense systems with advanced warfare technologies such as autonomous weapon systems. The purchase of an undisclosed number of loitering munitions is expected to be concluded in the first quarter of 2023. Such growing demand for advanced warfare technologies is projected to witness an upward trend over the forecast period.
The MEA loitering munition market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. Several countries are procuring loitering munitions manufactured by key market players in the region. For instance, Russia is widely deploying loitering munitions manufactured by Iran to combat Ukraine. Russia was initially deploying its domestically made loitering munitions in the war and faced shortages due to supply issues and licensing issue; as a result, the critical components of loitering munitions experienced a decline in production. Due to the shortages of loitering munitions, Russia started procuring and using Iranian-made loitering munition “Shahed” in the war, which is propelling the loitering munition market in the region. In addition, during the Second Nagorno-Karabakh War in 2020, Azerbaijan procured Harop loitering munitions manufactured by Israel Aerospace Industries, which increased the demand for Harop drones in the market. In February 2021, Israel Aerospace Industries signed three deals worth approximately US$ 100 million to supply its Harop loitering munitions in its land and naval version to Asian countries. Furthermore, governments of several countries across the globe increased their military expenditure to strengthen their defense industries. For instance, according to SIPRI, Serbia increased its military expenditure to US$ 1,426.4 million in 2022 from US$ 1,270.8 million in 2021. This increased the country’s capabilities to establish a robust defense sector by procuring missiles and loitering munitions. In March 2023, the Serbian Armed Forces (SAF) ordered loitering munitions developed by Edge Group, a UAE-based advanced defense technology company, in an effort to fortify its defense sector. Thus, such contracts with other nations for the procurement of loitering munitions developed by key players such as Shahed Aviation Industries and Israel Aerospace Industries in the MEA are propelling the loitering munition market in the region.
The Middle East & Africa loitering munition market is segmented into type, platform, and country.
Based on type, the loitering munition market is segmented into fixed wing and rotary wing. The fixed wing segment held the larger Middle East & Africa loitering munition market share in 2023.
Based on platform, the loitering munition market is segmented into air, naval, and land. The land segment held the largest Middle East & Africa loitering munition market share in 2023.
Based on country, the loitering munition market is segmented into the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the Middle East & Africa loitering munition market share in 2023.
AeroVironment Inc; Elbit Systems Ltd; Israel Aerospace Industries Ltd; Lockheed Martin Corp; Rafael Advanced Defense Systems Ltd; STM AS; and the UVision Air Ltd. are the leading companies operating in the loitering munition market in the Middle East & Africa.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 445.54 Million |
| Market Size by 2028 | US$ 678.71 Million |
| CAGR (2023 - 2028) | 8.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East & Africa Loitering Munition Market is valued at US$ 445.54 Million in 2023, it is projected to reach US$ 678.71 Million by 2028.
As per our report Middle East & Africa Loitering Munition Market, the market size is valued at US$ 445.54 Million in 2023, projecting it to reach US$ 678.71 Million by 2028. This translates to a CAGR of approximately 8.8% during the forecast period.
The Middle East & Africa Loitering Munition Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Loitering Munition Market report:
The Middle East & Africa Loitering Munition Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Loitering Munition Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Loitering Munition Market value chain can benefit from the information contained in a comprehensive market report.
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