Autonomous military weapons market to reach $19.75 billion in 2026, study saysNews
August 03, 2022
DUBLIN. The global market for autonomous military weapons is projected to grow from $13.30 billion in 2022 to $19.75 billion in 2026, at a combined annual growth rate (CAGR) of 10.4%, according to a report from Research and Markets, "The Autonomous Military Weapons Global Market Report 2022, By Type, Product, Platform."
The study authors found that growth in this market -- defined as weapons that choose and engage targets without the need for human involvemen, including missiles, rockets, guided bombs, target pods, and others -- will come mainly due to companies resuming and adapting their operations while recovering from the impact of COVID-19, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
In terms of region, Asia-Pacific was the largest region in the autonomous military weapons market in 2021, with Western Europe expected to be the fastest-growing region during the forecast period. Additionally, the study reveals that major players such as the U.S., China, and Russia are making significant investment in artificial intelligence (AI) for weapons and are competing for superiority in this segment.
For additional information visit the Research and Markets website.