Loitering Munition Market worth $815.3 million by 2029 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Jan. 6, 2025 /PRNewswire/ -- The Loitering munition market is valued at USD 529.9 million in 2024 and is projected to reach USD 815.3 million by 2029, at a CAGR of 9.0% from 2024 to 2029. The volume loitering munition market is projected to grow from 3,942 (units) in 2024 to 5,917 (units) in 2029 according to a new report by MarketsandMarkets™. The need for precision strike capabilities in military operations is therefore the primary driving factor in the loitering munition market. Armed forces around the world have also been increasingly concerned with collateral damage reduction through effective fleeting and high-value target engagements, hence making loitering munitions an important solution. These systems allow operators to loiter over a target area, gather real-time intelligence, and execute strikes with incredible accuracy. It is most useful in asymmetric warfare environments, wherein conventional war methods are likely to provide fewer gains. Defence organizations are increasingly investing in loitering munitions with more focus on the operational effectiveness and higher demands for quick responses in dynamic battlefields, thus promoting the growth of the market.

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Loitering Munition Market Report Scope:

The other critical factor propelling this market has been rapid advancement in technology on unmanned systems. There is an improvement in artificial intelligence, sensor integration, and autonomous navigation, which greatly increases capabilities on loitering munitions that the military forces consider them as more desirable. All these improvement technologies allow them to better identify a target and engage it, hence becoming safer with lesser risks for people. In addition, the heightened geopolitical tensions and increased military expenditure in most countries are pushing countries to modernize their defense systems, which is further propelling the demand for sophisticated loitering munitions. Countries will continue to integrate such systems into their military strategies in pursuit of tactical superiority on the battlefield, thereby sustaining the growth in the market for loitering munitions.

Based on Type, the Expendable is estimated to account for the fastest growth in the market from 2024 to 2029.

The loitering munition market, in the expendable segment, is highly in demand because they are cheap and operationally efficient. The expendable loitering munitions, known as "kamikaze drones," is a single-use system allowing military forces to engage high-value targets without the recovery or reuse of the said systems. It is made especially appealing where quick deployment and accurate strikes are of utmost importance. As the military organizations are now looking for the solutions which provide a tactical advantage at budget prices, then the demand for these systems is rising with every passing day. The rising concern towards asymmetric warfare and the need for real-time intelligence will spur adoption in various defense industries. Surveillance and strike missions require long range as well as more endurance, so market will move towards the fixed wing category. Forces will look for a lot of reliance on expendable loitering munitions as modernization in arsenals allows it to be adapted to battle dynamics that keep evolving. Beyond these deals for loitering munitions, contracts and procurement exercises have, successively looked to enhance the levels of readiness through high-tech capabilities offered by loitering systems.

Based on End User, the Army segment is estimated to account for the largest share of the loitering munition market from 2024 to 2029.

The Army segment is one of the prominent end-user categories for the loitering munition market, which indicates rising interest in improving the operational capabilities of ground forces. With changes and complex battlefields, highly demanded by armies, Loitering munitions are at the forefront. This technology provides improved situational awareness with ground troops. They collect intelligence and engage targets based on precise information while damaging limited collateral. Therefore, adding these systems to military designs enables the units to go on reconnaissance missions successfully with due response to emergent dangers that lurk within the battlefield horizon.

In the future, this Army segment will be fueled even further by procurement initiatives which are focused on modernizing ground forces. The best example in this case is that the recent US Army contracts are also being awarded to the Switchblade 300 system and similar systems to be deployed by soldiers as they get the best equipment to maximize their fighting effectiveness. As armies make their efforts at modernizing and to keep abreast with changing paradigms of war, loitering munitions demand is going to soar significantly in this segment. This is part of a larger thrust toward the incorporation of unmanned systems into ground operations because army units will be compelled to maintain agility and remain capable for dynamic combat scenarios.

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The North American market is projected to contribute the largest share from 2024 to 2029 in the loitering munition market.

North America is one of the most prominent regions of loitering munition industry growth. The market will be growing with a CAGR of 10.4% during this period. The United States is the leading player in the market, for it has maintained a solid defense budget and modernizes its military capabilities, meaning it is of great repute. Flow of escalating funds into advanced technologies allows the deployment of loitering munitions to flow into the pockets of US forces that intend to improve their operational efficiency in different combat scenarios. For instance, contracts between companies such as AeroVironment's Switchblade and the government reflect immense interest in the region toward the deployment of novel solutions in military action. The second reason for the growth of the market of loitering munition in North America is changing geopolitical considerations and warfare strategies. With warfare becoming increasingly asymmetric, complicated, and complex, such weapons and systems are very much needed with real-time intelligence capability along with precision strike capacities. This has been increasing military expenditure in North America and the countries have been investing much on the latest defense technologies. Modernization of the forces is still on in the US Army and other such forces enhance the significance of the loitering munitions in the current war and therefore, North America assumes the position in the emerging market.

Loitering Munition Companies key players are AeroVironment, inc (US), Elbit Systems LTD (Israel), Rheinmetall AG (Germany), Uvision (Israel), and Israel Aerospace Industries (Israel).

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