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Report
Asia Pacific Loitering Munition Market Forecast to 2028 -Regional Analysis - by Type (Fixed Wing and Rotary Wing) and Platform (Air, Naval, and Land)
Market Report I 2023-05-19 I 97 Pages I The Insight Partners
The loitering munition market in Asia Pacific is expected to grow from US$ 147.31 million in 2023 to US$ 238.55 million by 2028. It is estimated to grow at a CAGR of 10.1% from 2023 to 2028.
Rising Deployment of Smart Loitering Munition is Fueling Asia Pacific Loitering Munition Market
The utilization of artificial intelligence (AI) in the military produces new and smart systems that redefine how the combat force is projected on a battlefield. Weapon systems are increasingly getting smaller, more flexible, more precise, more intelligent, and more robust. Autonomous weapon systems have several operational advantages, including speed and agility. They can make decisions faster than human operators, and they do not need to constantly communicate with human operators to function. As smart loitering munition does not involve human operators' cognitive and physical limitations, it becomes more accurate and resilient than those operators. As a result, the defense industry is witnessing a rising trend of autonomous weapon systems. In order to adopt the growing trend of autonomous weapon systems, various market players are launching smart loitering munitions, a fully autonomous weapon system that can search, identify, decide, and engage targets independently without any human intervention. It is capable of operating day and night, and it will be effective against mobile or stationary targets, on land or at sea, radar and communication systems, light armored land and sea vehicles, critical facilities such as command centers, personnel, and targets of opportunity. It offers an operational radius of 60 kilometers, an endurance of more than 60 minutes, and can be used individually or in swarm configurations. Hence, the deployment of smart loitering munitions is expected to be a prominent market trend over the forecast period.
Asia Pacific Loitering Munition Market Overview
The Asia Pacific loitering munition market is sub-segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC. China and India are two of the top five military spending countries globally, wherein China ranks 2nd and India ranks 3rd. China and India accounted for more than 16% of the Asia Pacific military expenditure in 2022, mainly due to the demand for military power across these countries. The Indian Ministry of Defense has been collaborating with different international defense contractors to establish a strong manufacturing sector in the country, which is also expected to boost the country's GDP during the forecast period.
Asia Pacific Loitering Munition Market Overview Revenue and Forecast to 2028 (US$ Million)
Asia Pacific Loitering Munition Market Segmentation
The Asia Pacific loitering munition market is segmented into type, platform, and country.
Based on type, the Asia Pacific loitering munition market is segmented into fixed wing and rotary wing. The fixed wing segment held the larger Asia Pacific loitering munition market share in 2023.
Based on platform, the Asia Pacific loitering munition market is segmented into air, naval, and land. The land segment held the largest Asia Pacific loitering munition market share in 2023.
Based on country, the Asia Pacific loitering munition market is segmented into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific loitering munition market share in 2023.
AVision Systems Pvt Ltd, Elbit Systems Ltd, Innovaero Pty Ltd, Israel Aerospace Industries Ltd, Lockheed Martin Corp, Rafael Advanced Defense Systems Ltd, and the UVision Air Ltd. are the leading companies operating in the loitering munition market in the Asia Pacific.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Loitering Munition Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Asia Pacific Loitering Munition Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rise in Number of Contracts for Supply of Loitering Munition
5.1.2 Continuous Growth of Defense Sectors
5.2 Market Restraints
5.2.1 Threat of Jamming and Spoofing
5.3 Market Opportunities
5.3.1 Integration of Advanced Warfare Technologies in Defense Systems
5.4 Future Trends
5.4.1 Rising Deployment of Smart Loitering Munition
5.5 Impact Analysis of Drivers and Restraints
6. Loitering Munition Market - Asia Pacific Analysis
6.1 Asia Pacific Loitering Munition Market Overview
6.2 Asia Pacific Loitering Munition Market - Revenue and Forecast to 2028 (US$ Million)
7. Asia Pacific Loitering Munition Market Revenue and Forecast to 2028 - Type.
7.1 Overview
7.2 Asia Pacific Loitering Munition Market Breakdown, by Type, 2022 and 2028
7.3 Fixed Wing
7.3.1 Overview
7.3.2 Fixed Wing: Asia Pacific Loitering Munition Market- Revenue and Forecast to 2028 (US$ Million)
7.4 Rotary Wing
7.4.1 Overview
7.4.2 Rotary Wing: Asia Pacific Loitering Munition Market- Revenue and Forecast to 2028 (US$ Million)
8. Asia Pacific Loitering Munition Market Revenue and Forecast to 2028 - Platform.
8.1 Overview
8.2 Asia Pacific Loitering Munition Market Breakdown, by Platform, 2022 and 2028
8.3 Air
8.3.1 Overview
8.3.2 Air: Asia Pacific Loitering Munition Market- Revenue and Forecast to 2028 (US$ Million)
8.4 Naval
8.4.1 Overview
8.4.2 Naval: Asia Pacific Loitering Munition Market- Revenue and Forecast to 2028 (US$ Million)
8.5 Land
8.5.1 Overview
8.5.2 Land: Asia Pacific Loitering Munition Market- Revenue and Forecast to 2028 (US$ Million)
9. Asia Pacific Loitering Munition Market -Country Analysis
9.1 Asia Pacific: Loitering Munition Market
9.1.1 Asia Pacific: Loitering Munition Market, by Key Country
9.1.1.1 Australia: Asia Pacific Loitering Munition Market - Revenue, and Forecast to 2028 (US$ Million)
9.1.1.1.1 Australia: Loitering Munition Market, by Type
9.1.1.1.2 Australia: Loitering Munition Market, by Platform
9.1.1.2 China: Loitering Munition Market - Revenue, and Forecast to 2028 (US$ Million)
9.1.1.2.1 China: Loitering Munition Market, by Type
9.1.1.2.2 China: Loitering Munition Market, by Platform
9.1.1.3 India: Loitering Munition Market - Revenue, and Forecast to 2028 (US$ Million)
9.1.1.3.1 India: Loitering Munition Market, by Type
9.1.1.3.2 India: Loitering Munition Market, by Platform
9.1.1.4 Japan: Loitering Munition Market - Revenue, and Forecast to 2028 (US$ Million)
9.1.1.4.1 Japan: Loitering Munition Market, by Type
9.1.1.4.2 Japan: Loitering Munition Market, by Platform
9.1.1.5 South Korea: Loitering Munition Market - Revenue, and Forecast to 2028 (US$ Million)
9.1.1.5.1 South Korea: Loitering Munition Market, by Type
9.1.1.5.2 South Korea: Loitering Munition Market, by Platform
9.1.1.6 Rest of Asia Pacific: Loitering Munition Market - Revenue, and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of Asia Pacific: Loitering Munition Market, by Type
9.1.1.6.2 Rest of Asia Pacific: Loitering Munition Market, by Platform
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 Product Development
11. Company Profiles
11.1 Innovaero Pty Ltd
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 AVision Systems Pvt Ltd
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Rafael Advanced Defense Systems Ltd
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.5 Lockheed Martin Corp
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Israel Aerospace Industries Ltd
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 UVision Air Ltd
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Elbit Systems Ltd
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index y
LIST OF TABLES
Table 1. Asia Pacific Loitering Munition Market - Revenue and Forecast to 2028 (US$ Million)
Table 2. Further, below is the comparison of military expenditure across different countries in Asia Pacific (2019 Vs. 2022):
Table 3. Australia: Loitering Munition Market, by Type -Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia: Loitering Munition Market, by Platform -Revenue and Forecast to 2028 (US$ Million)
Table 5. China: Loitering Munition Market, by Type -Revenue and Forecast to 2028 (US$ Million)
Table 6. China: Loitering Munition Market, by Platform -Revenue and Forecast to 2028 (US$ Million)
Table 7. India: Loitering Munition Market, by Type -Revenue and Forecast to 2028 (US$ Million)
Table 8. India: Loitering Munition Market, by Platform -Revenue and Forecast to 2028 (US$ Million)
Table 9. Japan: Loitering Munition Market, by Type -Revenue and Forecast to 2028 (US$ Million)
Table 10. Japan: Loitering Munition Market, by Platform -Revenue and Forecast to 2028 (US$ Million)
Table 11. South Korea: Loitering Munition Market, by Type -Revenue and Forecast to 2028 (US$ Million)
Table 12. South Korea: Loitering Munition Market, by Platform -Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of Asia Pacific: Loitering Munition Market, by Type -Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of Asia Pacific: Loitering Munition Market, by Platform -Revenue and Forecast to 2028 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. Asia Pacific Loitering Munition Market Segmentation
Figure 2. Asia Pacific Loitering Munition Market Segmentation - By Country
Figure 3. Asia Pacific Loitering Munition Market Overview
Figure 4. Fixed Wing Contributed the Largest Market Share in 2022
Figure 5. India to Show Great Traction During Forecast Period of 2023 to 2028
Figure 6. Porter's Five Forces Analysis
Figure 7. Asia Pacific Loitering Munition Market- Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. Asia Pacific Loitering Munition Market Impact Analysis of Drivers and Restraints
Figure 10. Asia Pacific Loitering Munition Market - Revenue and Forecast to 2028 (US$ Million)
Figure 11. Asia Pacific Loitering Munition Market Revenue Share, by Type (2022 and 2028)
Figure 12. Fixed Wing: Asia Pacific Loitering Munition Market - Revenue and Forecast to 2028 (US$ Million)
Figure 13. Rotary Wing: Asia Pacific Loitering Munition Market - Revenue and Forecast to 2028 (US$ Million)
Figure 14. Asia Pacific Loitering Munition Market Revenue Share, by Platform (2022 and 2028)
Figure 15. Air: Asia Pacific Loitering Munition Market - Revenue and Forecast to 2028 (US$ Million)
Figure 16. Naval: Asia Pacific Loitering Munition Market - Revenue and Forecast to 2028 (US$ Million)
Figure 17. Land: Asia Pacific Loitering Munition Market - Revenue and Forecast to 2028 (US$ Million)
Figure 18. Asia Pacific: Loitering Munition Market, by Key Country - Revenue (2022) (US$ Million)
Figure 19. Asia Pacific: Loitering Munition Market Revenue Share, by Key Country (2022 and 2028)
Figure 20. Australia: Asia Pacific Loitering Munition Market - Revenue, and Forecast to 2028 (US$ Million)
Figure 21. China: Loitering Munition Market - Revenue, and Forecast to 2028 (US$ Million)
Figure 22. India: Loitering Munition Market - Revenue, and Forecast to 2028 (US$ Million)
Figure 23. Japan: Loitering Munition Market - Revenue, and Forecast to 2028 (US$ Million)
Figure 24. South Korea: Loitering Munition Market - Revenue, and Forecast to 2028 (US$ Million)
Figure 25. Rest of Asia Pacific: Loitering Munition Market - Revenue, and Forecast to 2028 (US$ Million)
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