In a recent published report, Kenneth Research has updated the market report for Military Robots Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Military Robots Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Global military robots market reached more than USD 1 Billion in terms of value in 2016 and is expected to grow significantly the end of 2024, expanding at a CAGR of 9.0% over the forecast period i.e. 2017-2024. Moreover, the growth of military robots market is attributed to the increased terrorism attacks and growing tension between neighboring countries across the globe especially in Iraq, Afghanistan, Pakistan, Syria, India, and other countries. North America is slated to account for a leading share of 38% in the terms of revenue by 2024 in the military robots market.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”
The growth in the region is anticipated to be fostered by the increasing military expenditure to strengthen the army. Besides, positive GDP growth coupled with advancement in military robots is also expected to impel the growth of military robots market in the North America region. Likely, U.S. and Canada are the prominent market in the region.
Global military robots market is segmented on the basis of Platform into airborne, land-based and naval. Airborne (45% share in 2016) occupies the largest market of military robots across the globe. Further, global airborne military robots market is anticipated to reach USD 1,136.7 Million by the end of 2024 from more than USD 5 Million in 2016.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”
In addition to this, global military robots market is segmented into payload and application. The payload segment is further segmented into sensors, weapon, radar, camera, video screens and others, out of which, sensors segment with 35% market share is anticipated to have largest share by the end of 2024.
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Further, global sensors military robots market is anticipated to reach more than USD 900 Million by the end of 2024 In addition to this, global sensors military robots market is expected to achieve Y-o-Y growth rate of 10% in 2024 as compared to previous year.
Business Questions answer by the report
- How will the market drivers, restraints and opportunities affect the market dynamics?
- What will be the market size in terms of value and volume and market statistics with detailed classification?
- Which segment dominates the market or region and one will be the fastest growing and why?
- A comprehensive survey of the competitive landscape and the market participant players
- Analysis of strategy adopted by the key player and their impact on other players.
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Additional Company Information
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“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”
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