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Military Drone Market Size to Reach USD 21.76 Billion by 2026

The global Military Drone Market size is set to gain traction from their increasing demand from the defense sector as they possess high surveillance capability.

Besides, these drones are nowadays equipped with several state-of-the-art technologies, namely, cloud computing-based services, multi-sensor data fusion for UAV navigation, and artificial intelligence (AI). It would affect the market positively in the coming years.

 As per the report, the Military Drone Market size is projected to reach USD 21.76 billion by 2026, at a CAGR of 12.4% during the forecast period. However, it stood at USD 7.93 billion in 2018.

Increasing Border Disputes in Developing Nations to Propel Growth

Armed forces worldwide are mainly focusing on bolstering their defense domain owing to increasing transnational security threats, as well as border security issues. This, in turn, is upsurging the expenditure on defense in the developing economies. The countries in Asia Pacific, for instance, are at present going through several border disputes. China is focusing on enhancing its defense sector with the help of government support.

The government of China spent USD 177.61 billion on improving combat capabilities and developing infrastructure for the armed forces. These factors are anticipated to propel the military UAV market growth in the coming years.

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Nitisha Dubey

I am a Journalist with a post graduate degree in Journalism & Mass Communication. I love reading non-fiction books, exploring different destinations and varieties of cuisines. Biographies and historical movies are few favourites.

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