Global Target Drone Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
Target Drone Market Report offers in-depth insights, revenue details, and other vital information regarding the global target drone market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2031.
The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.
The target drone market report has been segmented on the basis of engine type, target type, fit, platform, end-user, and region.
This Target Drone Market report is based on the synthesis, analysis, and interpretation of information gathered regarding the target market from various sources.
Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.
In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in the future.
Target Drone Market Overview:
“The Target Drone Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Target drones are remote-controlled unmanned aerial vehicles (UAVs) used for training individuals in anti-aircraft crews.
They are used in military training and tests for anti-aircraft warfare. They are used as ground targets, aerial targets, underwater targets, and sea surface targets. Target drones are also used to test weapon calibration, and anti-missile and anti-submarine training sessions.
Target Drone Market Dynamics:
Increasing defense budget, especially in developing countries and the growing importance of enhanced military training are major factors driving the growth of the global target drone market.
The availability of technologically advanced weaponry systems and the increasing use of drones are resulting in growing security concerns in many countries.
Moreover, increasing preference for drone targets over manned target vehicles in war-like countries is another factor fueling the growth of the target market.
The use of target drones for research and development activities is a factor anticipated to propel the growth of the target market.
Furthermore, increasing adoption of target drones in law enforcement and the homeland security sector are other factors expected to boost the growth of the global target drone market in the near future.
However, the lack of a skilled workforce to operate and control target drones is a factor that may hamper the growth of the global target drone market.
Nevertheless, the use of target drones for stimulation of real war scenarios can result in high revenue opportunities for players operating in the target drone market.
Target Drone Market Segment Analysis:
On the basis of engine type, the jet engine segment is expected to register high growth in terms of revenue in the near future. Increasing use of jet engines owing to their high reliability and power output are factors supporting the growth of this segment in the global target drone market.
On the basis of end-user segmentation, the defense sector is expected to account for a major share in terms of revenue and is expected to register lucrative growth over the forecast period.
Target Drone Market Regional Analysis:
The market in North America is expected to dominate the global market in terms of revenue and is expected to maintain its position over the forecast period.
A high military budget and increasing investments in R&D activities are factors propelling the growth of the target market in this region. In addition, increasing the budget for training programs is another factor fueling the growth of the target market.
Asia Pacific market is anticipated to register lucrative growth in terms of revenue in the near future, followed by markets in the Middle East & Africa, and Latin America.
Increasing military budget, especially in emerging economies such as China and India is another major factor driving the growth of the target drone market in the Asia Pacific.
Global Target Drone Market Segmentation:
Segmentation by engine type:
- Jet Engine
- Internal Combustion Engine
- Others (Electrical, Hybrid)
Segmentation by target type:
- Free Flying
Segmentation by fit:
- Customized Fit
- Line fit
Segmentation by platform:
- Sea Surface
Segmentation by end-user:
- Homeland Security
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- The Boeing Company
- Northrop Grumman Corporation
- QinetiQ Group plc
- Kratos Defense & Security Solutions, Inc.
- Saab AB
- Lockheed Martin Corporation
- Airbus Group Inc.
- Leonardo SpA
- ASV Holdings Inc.
- Aerotargets International, LLC
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