Military Drone/UAV Market in Asia Pacific to observe 17% CAGR from 2018 to 2024

Asia Pacific military drone/UAV market is anticipated to grow at a CAGR of 17% during the forecast period. The growth of the market is attributed to the growing demand for the drones from the developing economies including India and China. China accounts for more than 50% share in the Asia Pacific market, driven by the increasing investments by the Chinese government for the procurement of the drones. The government is focusing on enhancing the domestic production of drones to reduce the imports from the U.S. For instance, in July 2017, China started the production of the CH5 Rainbow that will cost half as compared to the U.S. MQ-9 Reaper.

North America is the leading region in the military drone/UAV market with the revenue share of over 70% in the year 2016. The growth of the market is attributed to the increasing adoption of the drone in the U.S. for the military

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