Autonomous Military Weapons Global Market Report 2021: Major Players are Lockheed Martin, Boeing, Raytheon, AVIC, CASC, Rostec, Israel Aerospace Industries, Elbit Systems, Rafael and STM - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Autonomous Military Weapons Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.

The global autonomous military weapons market is expected to grow from $12.21 billion in 2020 to $13.3 billion in 2021 at a compound annual growth rate (CAGR) of 8.9%.

The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.

The market is expected to reach $20.31 billion in 2025 at a CAGR of 11%.

Major players in the autonomous military weapons market are Lockheed Martin, Boeing, Raytheon, AVIC, CASC, Rostec, Israel Aerospace Industries, Elbit Systems, Rafael and STM.

The autonomous military weapons market consists of sales of autonomous military weapons, which when activated, search, detect, evaluate the threat, track and attack enemy targets and work based on sophisticated algorithms without further intervention by a human operator.

It requires the integration of several core elements like a mobile combat platform such as drone aircraft, ship, or ground vehicle, various types of sensors to scrutinize the surroundings, processing systems to classify objects discovered by the sensors, and algorithms directing the platform to initiate attack when an allowable target is detected. The market consists of revenue generated by the companies manufacturing autonomous military weapons by the sales of these products.

The ability to perform dangerous tasks with precision contributed to the growth of autonomous military weapons market. Autonomy in weapons enables to keep army personnel away from dangerous tasks or any imminent risk to human life. Besides this, increased reaction speed in decision making and eyes on the target will potentially increase accuracy. It has access to larger amount of information, greater accuracy and greater predictability for certain functions freeing humans from dull or repetitive tasks along with permitting access to environments that are inaccessible to remote control technologies.

Major countries such as the USA, China and Russia are significantly investing in artificial intelligence (AI) for weapons and are competing for superiority in this segment. For instance, Russia is investing $719 million until 2021 in the AI research and development for weapons. The ability to hit the target without human involvement along with minimizing risk to human life increased the demand for the autonomous military weapons market.

The risk posed by autonomous weapons compelled the researchers and designers to decide against manufacturing them, hampering the growth of the market. For instance, in 2018, around 240 organizations involved in artificial intelligence and nearly 3,100 individuals vowed not to be involved in development of autonomous weapon systems.

Key Topics Covered:

1. Executive Summary

2. Autonomous Military Weapons Market Characteristics

3. Autonomous Military Weapons Market Trends and Strategies

4. Impact of COVID-19 on Autonomous Military Weapons

5. Autonomous Military Weapons Market Size and Growth

5.1. Global Autonomous Military Weapons Historic Market, 2015-2020, $ Billion

5.1.1. Drivers of the Market

5.1.2. Restraints on The Market

5.2. Global Autonomous Military Weapons Forecast Market, 2020-2025F, 2030F, $ Billion

5.2.1. Drivers of the Market

5.2.2. Restraints on the Market

6. Autonomous Military Weapons Market Segmentation

6.1. Global Autonomous Military Weapons Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

• Autonomous
• Semi-autonomous

6.2. Global Autonomous Military Weapons Market, Segmentation By Product, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

• Missiles
• Rockets
• Guided Bombs
• Target Pods
• Others

6.3. Global Autonomous Military Weapons Market, Segmentation By Platform, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

• Land
• Airborne
• Naval

7. Autonomous Military Weapons Market Regional and Country Analysis

7.1. Global Autonomous Military Weapons Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

7.2. Global Autonomous Military Weapons Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

Companies Mentioned

• Lockheed Martin
• Boeing
• Raytheon
• AVIC
• CASC
• Rostec
• Israel Aerospace Industries
• Elbit Systems
• Rafael
• STM
• BAE Systems plc
• MBDA
• General Dynamics Corporation
• Textron Inc.
• Northrop Grumman
• Rheinmetall AG
• KBP Instrument Design Bureau
• Kongsberg Gruppen
• NORINCO
• Denel SOC Ltd.
• Kalashnikov Concern

For more information about this report visit https://www.researchandmarkets.com/r/tqkvqb