Autonomous Military Weapons Global Market Report 2024

The autonomous military weapons market size has grown rapidly in recent years. It will grow from $14.68 billion in 2023 to $16.21 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth observed in the historical period can be attributed to various factors, including the influence of past conflicts and military strategies, continuous research and development (R&D) investments over time, regulatory milestones shaping the development and deployment of autonomous military weapons, historical budget allocations dedicated to these technologies, as well as the successes and failures in implementing and refining such systems. These elements have collectively contributed to the evolution and advancement of autonomous military weapons during the historical period.

The autonomous military weapons market size is expected to see rapid growth in the next few years. It will grow to $24.07 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The anticipated growth in the forecast period can be attributed to various factors, including the adoption of autonomous military weapons by non-state actors, the dynamics of supply chains supporting these technologies, shifts in public opinion and advocacy, geopolitical changes influencing military strategies, and the competitive landscape and innovation within the industry. Major trends expected in the forecast period include the influence of public perception and acceptance, collaboration and alliances between entities, heightened geopolitical tensions affecting the deployment and usage of autonomous military weapons, growing ethical concerns surrounding their use, and an increased focus on cost efficiency in the development and implementation of these technologies.

The growth of the autonomous military weapons market is fueled by the ability to execute hazardous tasks with precision, eliminating the need for human involvement in perilous situations. Autonomy in weapons enhances decision-making speed and target accuracy while reducing the risk to human life. Countries such as the USA, China, and Russia are making significant investments in artificial intelligence (AI) for military applications, striving for dominance in this sector. For instance, Russia allocated $719 million for AI research and development in weapons until 2021. The demand for autonomous military weapons is rising due to the capability to hit targets without human intervention, minimizing risks to human life.

Anticipated growth in defense expenditure is set to drive the autonomous military weapons market. Defense expenditure encompasses spending on armed forces, including peacekeeping troops and paramilitary forces. Higher defense budgets allow military organizations to allocate more resources to research, development, and acquisition of autonomous military weapons. In the fiscal year 2021-2022, the UK's Ministry of Defense reporteda total increase in military expenditures of £45.9 billion ($58.35 billion), contributing to an increase in total equipment spending to £20.9 billion ($26.57 billion). The surge in defense expenditure will be a driving factor for the autonomous military weapons market.

Concerns regarding the risks associated with autonomous weapons have led researchers and designers to opt against their development, acting as a hindrance to market growth. Approximately 240 AI organizations and 3,100 individuals worldwide have pledged not to participate in the creation of autonomous weapon systems. The global resistance to manufacturing autonomous military weapons poses a significant obstacle to the market's expansion.

Leading companies in the autonomous military weapons market are concentrating on creating innovative products, including unmanned ground vehicles (UGV), to offer dependable services. UGVs are ground vehicles that operate without human operators. For example, MSI Defence Systems Ltd. collaborated with Milrem Robotics to introduce THeMIS, an unmanned kinetic Counter-Unmanned Aerial Vehicle (C-UAV). The partnership provides a revolutionary solution for countering mini-UAVs, loitering munitions, and other challenging aerial targets.

Elbit's acquisition of IMI Systems, a state-owned Israeli weapons manufacturer, for $522 million is a strategic move to create a research-intensive company. The deal includes IMI's product range, such as shoulder-launched missiles and precision-guided mortar munitions, merging it with Elbit's portfolio of avionic systems, drones, and intelligence and cybertechnology. The relocation of IMI facilities from central Israel to the Negev area is also part of the acquisition.

Major companies operating in the autonomous military weapons market report are China North Industries Group Corporation Limited, Aviation Industry Corporation of China, Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Airbus Group Inc., Kalashnikov Concern LLC, China Aerospace Science and Technology Corporation, General Dynamics Corporation, Northrop Grumman Corporation, Mitsubishi Heavy Industries Ltd., Rostec State Corporation, BAE Systems PLC, L3Harris Technologies Inc., Thales Group, Textron Inc., Kawasaki Heavy Industries Ltd., Rheinmetall AG, Elbit Systems Ltd., Israel Aerospace Industries Ltd., Saab AB, Kongsberg Gruppen ASA, Rafael Advanced Defense Systems Ltd., Bharat Electronics Limited, Palantir Technologies Inc., Kratos Defense & Security Solutions Inc., Denel SOC Ltd., Anduril Industries Inc., Savunma Teknolojileri Mühendislik ve Ticaret A.Ş., Matra BAe Dynamics.

Asia-Pacific was the largest region in the autonomous military weapons market in 2023. Western Europe is expected to be the fastest-growing region in the autonomous military weapons market share during the forecast period. The regions covered in the autonomous military weapons market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the autonomous military weapons market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of autonomous military weapons are autonomous and semi-autonomous. Autonomous weapons can independently choose and engage targets without requiring human involvement. Products falling under this category include missiles, rockets, guided bombs, target pods, and others, and they are utilized across various platforms, including land-based, airborne, and naval systems.

The autonomous military weapons market research report is one of a series of new reports that provides autonomous military weapons market statistics, including global market size, regional shares, competitors with an autonomous military weapons market share, detailed autonomous military weapons market segments, market trends and opportunities, and any further data you may need to thrive in the autonomous military weapons industry. This autonomous military weapons market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The autonomous military weapons market consists of sales of auto-operated weapons such as autonomous explosives, and missiles. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.