Loitering munitions are well equipped and designed to break through into the target location despite being well-protected with armored vehicles and attacking tanks. These munitions are a mix of drones and cruise missiles. Loitering munitions can be launched through small infantry bodies, giving them their precision-guided indirect firepower. It is equipped with electro-optic sensors and a battery or fueled powered mini drone, which can loiter in the air relaying imagery to troops on the ground. Once the troops see an expected target, they can order the drone to detonate at the target location.
The growing demand for the usage of loitering munitions by different armed forces for their respective missions is one of the major factors supporting the procurement of loitering munitions worldwide. In November 2022, Russian forces used a Lancet loitering munition to strike a Ukrainian Gyruza-M-class patrol boat. Also, several other types of loitering munitions had been used during the Russia–Ukraine war in recent scenarios. In December 2022, the Ministry of Defense (MOD) of Lithuanian announced that it signed a contract with the US to procure American-made Switchblade 300 and Switchblade 600 loitering munitions designed and manufactured by AeroVironment. The contract value was ~US$ 47.90 million (€45 million). Such developments are catalyzing the growth of the loitering munition market.
Report: https://www.theinsightpartners.com/reports/loitering-munition-market