The Loitering Munitions Market size is projected to reach US$ 2.02 billion by 2031 from US$ 1.01 billion in 2023. The market is expected to register a CAGR of 9.0% in 2023–2031. In 2023, fixed wing segment dominated the loitering munition market. Fixed-wing loitering munition can be used for longer range applications than rotary-wing loitering munition as it has greater endurance, higher speed, and larger payload capacity. Fixed- and rotary-wing loitering munitions can be equipped with missiles or bombs to strike targets from a safe distance to reduce the risk of collateral damage. It provides a high degree of accuracy with the ability to precisely engage the target.
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Top Key Major Players:-
- STM AS
- Innovaero Pty Ltd
- AVision Sytems Pvt Ltd
- Rafael Advanced Defense Systems Ltd
- AeroVironment Inc
- Lockheed Martin Corp
- WB Electronics SA
- Israel Aerospace Industries Ltd
- UVision Air Ltd
- Elbit Systems Ltd