DSEI 2023: Paramount showcases its N-Raven loitering munition.

At the DSEI 2023 expo, Paramount is highlighting its own loitering munition: the N-Raven. A recent report reveals a substantial increase in the loitering munitions market, showing a projected growth rate of 525% between 2020 and 2024. This surge is attributed to various global conflicts, notably the ongoing Russo-Ukrainian conflict. The report estimates that annual spending on loitering munitions will exceed $600 million in the coming years.
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Paramount's N-Raven loitering munition (Picture source: Paramount )

The report emphasizes the strategic advantages of loitering munitions, including their versatility and cost-effectiveness. These attributes have been particularly evident in the Russo-Ukrainian conflict, where both sides have utilized these systems for targeted strikes. The loitering munitions market is expected to maintain an 8% share of the entire Unmanned Aerial Vehicle (UAV) market until 2025. In 2021 and 2022, loitering munitions ranked as the third-largest segment within the UAV market.

North America is anticipated to be the largest contributor to the loitering munitions market over the next decade. However, Europe is showing a dramatic increase in spending, projected to rise by over 2000% from 1.39% to 36% between 2021 and 2023. This surge is largely attributed to the Russo-Ukrainian conflict, prompting European nations to invest in both short-term and long-term defense capabilities.

In the context of this market growth, Paramount's N-Raven is being showcased at the DSEI 2023 expo in London. Designed for both asymmetrical and symmetrical warfare scenarios, the N-Raven aims to facilitate technology transfer, enabling domestic production within customer countries. Steve Griessel, CEO of Paramount Group, stated, "The N-Raven aligns well with current market trends, offering not only advanced capabilities but also economic advantages. It serves as a testament to our commitment to providing adaptable defense solutions for today's rapidly evolving global scenarios."

While it is clear that loitering munitions will occupy a significant place in future equipment purchases, it remains to be seen what role the N-Raven will play and how its capabilities will compare to other competitors in the market.