Military Drone Market Expected To Expand Through 2028 on Heels of Technological Advancements

PALM BEACH, Fla. , March 16, 2023 /PRNewswire/ — FinancialNewsMedia.com News Commentary – The worldwide Military Drone market has been rapidly expanding for the past several years and is expected to continue to show significant growth in the several years to come. North America has held a significant share in the military drone market, led by countries such as the United States, which have large defense budgets as sizable military budgets support the incorporation of cutting-edge technological advancements. The growing need to strengthen national security by acquiring technologically cutting-edge equipment like military drones for surveillance, monitoring, transportation, and combat operations, is driving the market for military drones in North America. Additionally, the market will likely expand further due to favorable rules by governments in the region and the increase in production of military drones internationally and domestically.  Other regions are also growing. A report from Expert Market Research said that: “Asia Pacific is projected to experience significant expansion and a fast CAGR in the military drone market over the forecast period. This can be attributed to the increased spending by several countries on their militaries to strengthen their defensive capacities. The demand for military drones is expected to increase as border conflicts become more prevalent and countries invest in real-time surveillance drones in order to enhance border patrolling and situational awareness.”  Active companies in the markets this week include: AeroVironment, Inc. (NASDAQ: AVAV), Epazz, Inc. (OTCPK: EPAZ), Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD), Drone Delivery Canada Corp. (OTCQX: TAKOF) (TSXV: FLT), Red Cat Holdings, Inc. (NASDAQ: RCAT).

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