Global Target Drone Market Report 2018 By Application, Product Segment, Analysis and Forecast 2029

Market Overview:

Global Target Drone Market Size Was Valued at USD 5.04 billion In 2021, And Is Projected to Reach USD 8.20 billion By 2028, Growing at A CAGR of 7.20% From 2022 To 2028.

Target drones are a particular type of unmanned aerial vehicle (UAV) that are remotely controlled and used for a variety of purposes, such as testing and evaluating weapon systems, conducting counter-artillery operations, and training anti-aircraft crews. These drones play a crucial role in ensuring the dependability, performance, and cost-effectiveness of various weapons and training programs, thus contributing to the readiness of defense forces. Although target drones come in different shapes and sizes, their key components such as batteries, micro-motors, controllers, and sensors are essentially the same. By utilizing smartphone parts, the development of target drones over the past decade has resulted in lower prices and greater accessibility for both consumers and businesses.

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Market Dynamics:

Driver:

The increasing use of target drones in the defense sector is driving the growth prospects of the target drone market. Target drones are used for weapon system testing and evaluation, counter-artillery operations, and anti-aircraft crew training. These drones play a vital role in ensuring the dependability, performance, and cost-effectiveness of various weapons and training programs, contributing to the readiness of defense forces. As a result, the demand for target drones is expected to continue growing, leading to an expansion of the target drone market.

Opportunities:

The rising investment by governments and private companies presents a significant opportunity for the target drone market to grow. The increase in defense spending by governments around the world is creating a demand for new and advanced technologies such as target drones. Private companies are also investing in target drones for various applications, leading to an increase in demand from different sectors. The expansion of production capabilities by manufacturers to meet market needs is another opportunity for growth in the target drone market.

The Report Will Include A Major Chapter
• Patent Analysis
• Regulatory Framework
• Technology Roadmap
• BCG Matrix
• Heat Map Analysis
• Price Trend Analysis
• Investment Analysis
• Company Profiling and Competitive Positioning
• Industry Value Chain Analysis
• Market Dynamics and Factors
• Porter's Five Forces Analysis
• Pestle Analysis

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Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years.

Market Segmentation

By Engine Type
• Internal Combustion Engine
• Jet Engine
• Others
By Platform
• Aerial Targets
• Ground Targets
• Underwater Targets
• Sea Surface Targets
By End Users
• Defense
• Homeland Security
• Commercial

Regional Analysis of Target Drone Market
North America dominates the Target Drone Market. In North America, the United States plays a prominent role to develop the target drone market. Increased defense spending, expanding acceptance and spending on the use of unmanned aerial vehicles in the defense sector, and the existence of several established businesses providing target drones for military weapon simulation and testing are all factors leading to growth in the North American area. Aero targets International, The Boeing Company, Griffon Aerospace, and Kratos Defense & Security Solutions, Inc. are just a few of the well-known target drone companies based in North America. In addition, many North American businesses are attempting to increase the effectiveness of their various target drone business units. Kratos Defense & Security Solutions, Inc reported that its "Unmanned Systems Division" had obtained a contract worth roughly US$ 38 million for unmanned aerial drone aircraft.

By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Key Players Covered in Target Drone Market are
• The Boeing Company (US)
• QinetiQ Group plc (UK)
• Northrop Grumman Corporation (US)
• Kratos Defense & Security Solutions Inc. (the US)
• Airbus Group(Netherlands)
• Lockheed Martin Corporation (US)
• Leonardo S.p.A. (Italy)
• BSK Defense S.A. (Greece)
• Air Affairs Australia Pty Ltd (Australia)
• Saab AB (Sweden)
• AeroTargets International LLC (US)
• L3 ASV (UK)
• BAE Systems (UK)
• Raytheon (US)
• General Dynamics Corporation (US)
• Almaz-Antey (Russia)
• Thales (France)
• Embention (Spain)
• Griffon Aerospace (US)
• Denel Dynamics (South Africa) and other major players.

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Key Industry Developments In Target Drone Market
February 2022, AeroVironment, Inc., a world leader in astute, multi-domain robotic systems, has been awarded an $8,541,428 firm-fixed-price Foreign Military Sales (FMS) contract by the United States Department of Defense to provide PumaTM 3 AE small unmanned aircraft systems (UAS), initial spares packages, training, and support to an allied nation.
September 2021, BAE Systems announced the purchase of Bohemia Interactive Simulations (BISim), a developer of military training simulators, for $200 million. The acquisition was spurred by the predicted rise in demand for military training and simulation equipment, which has a global market worth more than $11 billion per year, according to the British aerospace company.

Report includes Competitor's Landscape:
• Major trends and growth projections by region and country
• Key winning strategies followed by the competitors
• Who are the key competitors in this industry?
• What shall be the potential of this industry over the forecast tenure?
• What are the factors propelling the demand for the Action Figures and Statues?
• What are the opportunities that shall aid in significant proliferation of the market growth?
• What are the regional and country wise regulations that shall either hamper or boost the demand for Action Figures and Statues?
• How has the covid-19 impacted the growth of the market?
• Has the supply chain disruption caused changes in the entire value chain?

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