Angeline Leishman
Research and Markets has released a new forecast report on the global military robots market that predicts the industry to expand from $16.08 billion in 2020 to $33.65 billion in 2026.
The report lists down the drivers for market growth including expanded battlefield deployment of robots and increased funding for robotics research and development, the market research company said Wednesday.
Military robots having an active role in ensuring border security and being specialized to address hazardous and extreme environments are considered as the other drivers of the anticipated industry expansion.
Despite projecting a compound annual growth rate of 13.09 percent in six years, the report noted that the concentration of demand for robotic systems in Europe and North America and increasing skepticism for automated and weaponized robots.
Aside from predictions, the new research covers various details of the market including relevant technology trends and regulatory frameworks, as well as the effect of the COVID-19 pandemic.
An analysis of the market share of top robotics vendors such as BAE Systems, Lockheed Martin and Northrop Grumman is also included in the report.
