Target Drones Market Size
Product overview
Target Drones Market to surpass USD 8.2 Billion by 2030, which is valued at 4 billion in 2019 at a compound annual growth rate of 6.80%
Target Drones are unmanned aerial vehicles that are remotely operated. Target drone is intended for training and testing purposes and as a ground-to-air defense device. The professionals employ these for evaluating battle and preparing anti-aircraft crews. The technology has helped make target drones more effective and efficient. The armed forces primarily use these drones to support the operations of modern weapons systems for specialized applications such as aerial photography and data processing. Military forces all over the world benefit from the positive training climate that target drones have to deliver. These drones provide the best solutions for all aspects of simulation of danger, such as realism, cost, and operational performance, which in turn increases the overall effectiveness of the training. Some drones can carry missiles and reach the target with great precision. These devices are also suitable for supplying food and water in areas affected by natural disasters, including floods and earthquakes. Using target drones to trigger real war scenarios is expected to create high revenue opportunities for players operating in the target drone industry.
Market Highlights
Target Drones Market is expected to project a CAGR of 6.80% during the forecast period, 2019-2030
The surging incidents of political violence, maritime piracy, terrorism, insurgency, and civil unrest have also increased investment in the field of practical military training and simulation, thus leading to the growing demand for target drones. Increase investment in aerial target innovations, projects on unmanned aerial vehicle combat programs, and emphasis on testing and assessment and training drive the growth of the target drone market.
Target Drones Market: Segments
In 2019, the defense segment of the target drones dominated the market and accounted for XX% of the global market.
Global Target Drones market is segmented by end-use into defense and commercial. A rise in budgetary constraints, a reduction in recruiting of defense personnel, and a rise in US and European countries' procurement of defense hardware have necessitated the need to find cost-effective alternatives for military missions. These factors drive the demand for target drones in the defense segment and are expected to show high growth in the forecasted period.
The Combat Training segment of the market is anticipated to grow at the highest CAGR from 2019 to 2030
Global Target Drones market is segmented by application into combat training, target and decoy, reconnaissance, target identification, and target acquisition. Combat training to dominate the application segment due to the use of target drones. That is due to the greater use by many security forces of target drones for the training and testing of anti-aircraft crews. Target drones are designed to simulate threats to the enemy and allow ground, naval, and air forces to practice with surface-to-air and air targets. Also, target drones allow training weapons and radar operators against a practical target.
The Aerial Target to dominate the segment with the highest CAGR growth from 2019 to 2030
By target segment, the market is segmented into an aerial target, ground target, and marine target. The aerial target drone is expected to show the highest growth in the market owing to its wide adoption of these drones in worldwide military practices to replicate threats against enemy aircraft. The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.
Global Target Drones Market: Market Dynamics
Driver
Increased investment in research and development and increasing incidents of threat is expected to improve the growth of the market
Over time, target drones have developed into a key component of military, naval, and aviation operations. Improved investment in research and development, as well as better support for military training programs, are key drivers of target drone market growth. The surging incidents of political violence, maritime piracy, terrorism, insurgency, and civil unrest have also increased investment in the field of practical military training and simulation, thus leading to the growing demand for target drones. Increase investment in aerial target innovations, projects on unmanned aerial vehicle combat programs, and emphasis on testing and assessment and training drive the growth of the target drone market. Using target drones to trigger real war scenarios is expected to create high revenue opportunities for players operating in the target drone industry.
Restraint
The lack of skilled workforce and high manufacturing cost is expected to hamper the market growth
Lack of a skilled workforce for operating and controlling target drones is a factor hampering the global target drone market growth. High cost associated with target drone manufacturing is also expected to act as a restraint in the global market.
Global Target Drones Market: Regions
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA. North America is expected to dominate the regional segment due to rising adoption and spending on the use of unmanned aerial vehicles in the defense sector, increasing defense spending, and presence of key players providing target drones for military weapon simulation and testing. APAC region is also expected to show significant growth owing to the high usage of military training equipment. Additionally, India and China are increasing its defense spending to use modern methods to train its military personnel. The rise in target drones' applicability in the military sector has driven the demand in the APAC region.
Global Target Drones market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities-o-Y Growth, CAGR – the United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
- MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Target Drones Market: Key Players
- Leonardo
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- Boeing
- BSK Defense
- Saab AB
- Kratos Defense and Security Solutions
- Air Affairs Australia
- Northrop Grumman
- Airbus
- ASV Global
- Other prominent players
Global Target Drones market report also contains analysis on:
Target Drones Market Segments:
- By End-use
- Defense
- Commercial
- By target
- Aerial Targets
- Ground Targets
- Marine Targets
- By application
- Combat Training
- Target and Decoy
- Reconnaissance
- Target Identification
- Target Acquisition
- Target Drones Market Dynamics
- Target Drones Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
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