The war in Ukraine has highlighted the value of loitering munitions, which in spite of their existence and use for several years are now coming to the surface. The market is projected to grow to U.S.$6.85 billion by 2031, at a CAGR of 12.6 percent in the 2023-2031 period. The market is still at its early stages and can offer several opportunities for manufacturers and suppliers who consider entering or expanding in it. With unmanned aerial vehicles (UAVs) being essentially the platform, the technological risk is constrained and most of the risks currently come from the limited capacity of the industries and the obstacles in the supply chain. As they are expected to be resolved in the next one to two years, the market will increase at a higher pace. There are several trends and drives supporting the market's growth. In the current great power politics and military force structures, long-range fires are key in modern operations. Until now that has only been feasible with the use of artillery systems and other precision-guided weapons. However, these have not always been organic to the frontline units but were assigned in support or operational command on an ad-hoc basis.
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