Unmanned Aerial Vehicles (UAVs) are used for combat operations, remote sensing, battle damage management, and search and rescue, among others. The U.S., China, India, and Turkey, among others, are significantly developing UAS technology to enhance their warfare capabilities as UAVs provide better efficiency, long endurance, remote operations without endangering human life, and precision targeting, among others. The various applications of UAVs in the defense industry such as gathering intelligence, surveillance of hostile environments, and reconnaissance have made them a huge asset in the battlefield. Various companies are continuously researching and developing next-generation UAV technology to make them more efficient, reliable, and autonomous for military applications.

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UAVs are being used globally by the military forces across the world. UAVs have become pivotal forms of arsenal in all military forces due to their enhanced capabilities. It is being observed that military budgets for UAVs is growing due to advancement in UAV technologies. The various applications of UAVs in the defense industry like gathering intelligence, surveillance of hostile environments, and reconnaissance have made them a huge asset in the battlefield. Various countries are continuously researching and developing UAVs to make them more efficient, reliable, and autonomous for military applications. Hence, the R&D budget for UAV programs of top countries is increasing significantly. The need to attain a global dominance is one of the driving forces for the countries which in turn is increasing the defense budgets resulting in the growth military UAV market.

Military UAS are primarily classified as three types: fixed-wing, rotary-wing and Vertical Take-Off and Landing (VTOL). Fixed wing UAVs acquire highest market with a value of $7.91 billion with a CAGR of 25.18% during the forecasted. The following figure illustrates the growth of fixed wing UAVs during the forecast period.

In 2019, volume fixed-wing UAVs are estimated to be 1,703 units and it is expected to rise to 4,457 units by 2024 with a CAGR of 18.69% during the forecasted period.

Military UAS are also classified based on applications. Certain UAVs are designed to carry out specific mission such as small drones for ISR and battlefield damage management. However, few UAVs can be used for multiple applications.

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Moreover, based on range, UAVs are classified as Visual Line of Sight (VLOS), Extended Visual Line of Sight (EVLOS), and Beyond Visual Line of Sight (BVLOS). During the forecast period, BVLOS acquires the highest market share with a value of $5.34 billion and growing with a CAGR of 29.05% during the forecasted period.

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