Target Drones Market to witness a CAGR of 9% | Global Industry Analysis, Size, Share, Growth, Regional Analysis, Key Players and Forecast to 2023

“\”Target Drones Market\””
Target Drones Market by End-user (Defense, Homeland Security, Commercial), Platform (Aerial, Ground, Underwater, and Sea Surface), Engine Type (IC, Jet, others), Target Type (Full & Sub-scaled, Free Fly, Tow, Sport), & Region- Forecast till 2023

Market Highlights:

Target drone is a kind of unmanned aerial vehicle. Target drones can be used for ground targets, aerial targets, underwater targets, and sea surface targets. It is popularly used in the defense industry mostly for training in anti-aircraft warfare. Besides, it is used to simulate manned aircraft in radar, counter-air defense, and homeland security. In addition, the application of target drones has increased necessity in military trainings related to anti-missile and anti-submarine and in weapon calibration testing. The rising funds in the defense industry focused on training in several emerging nations are an eminent factor boosting the target drones market. In several developing economies, line fit based target drones is witnessing extensive acceptance due to their cost-effectiveness and wider accessibility in emerging regions.

The growing number of innovation and patent registrations in several developed nations is expected to emphasize the market. Advancements in simulation technologies and the massive R&D capabilities being spent on developing these technologies are notable factors increasing the market. As target drones are unmanned aerial vehicles they can be controlled by remote and are mainly used in the defense. They are the alternatives for aerial targets mainly used in evaluation, testing, research and development. The current target drones are used in radar and countermeasures in order to mimic the manned aircraft.

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Major Key Players

ASV Global (U.K),

AeroTargets International, LLC (U.S.),

Boeing Company (U.S.),

QinetiQ Group Plc (U.K),

Kratos Defense & Security Solutions, Inc. (U.S.),

Northrop Grumman Corporation (U.S.),

Saab AB (Sweden),

Airbus S.A.S (France),

Leonardo S.p.A. (Italy), and Lockheed Martin Corporation (U.S.).

According to MRFR, The Target Drones Market is estimated to witness a CAGR of more than 9% during the forecast period 2018-2023.

The rise in funds for training programs in the military across the world is expected to fuel the demand for target drones as they are progressively being accepted in the defense sector for training. Furthermore, the rise in instances of political terrorism, and maritime piracy has amplified the investments for realistic military training. However, lack of skilled workforces to control and operate the target drones is expected to hamper the market during the forecast period.

Based on the end user, the market can be segmented into defense, homeland security, and commercial. Defense segment is estimated to be the major segment of the target drones market. Since target drones are majorly used for anti-aircraft, anti-missile, and anti-submarine training in the defense sector. Target drones are similarly, also used for missile and weapon calibration testing.

The target drones market can be segmented based on engine type, the target drones market can be split into IC engines, jet engines, and others. The jet engine segment is foreseen to dominate the market during the forecast period due to the high adoption rate of target drones in the military due to their high speed engine technologies. The fit market can be additional segmented into customized fit and line fit. The line fit segment is expected to establish the largest market, as customized fit is available only in the U.K and the U.S. Due to budget limitations in the defense in emerging countries, modification of fighter aircraft is not possible as most of the countries obtain such aircraft from Russia and the U.S. and are not able to change them into aerial targets. Consequently, the target drones in those countries are mostly line fit drones.

In terms of region, the target drones market has been segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. North America is expected to account for the largest share of the target drones market during the forecast period, owing to the rise in investment in defense training programs and the increase in budget allocated for target drones in the U.S. Furthermore, in the U.S., old fighter aircraft are converted into aerial targets that help in missile training, testing trainings, and simulating real-time threat scenarios for military anti-aircraft missile systems.

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The report for Global Target Drones Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance.

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