Market Size – USD 5.04 Billion in 2021, Market Growth - CAGR of 7.20%, Market Trends –the increasing demand from electronics industry is widening the scope for Target Drone Market.
According to the current analysis of Introspective Market Research, the global Target Drone Market was valued at USD 5.04 Billion in 2021 and is expected to reach USD 8.20 Billion by the year 2028, at a CAGR of 7.20%.
Target and reconnaissance drones, decoys employed by military aircraft to divert threats, and long-range cruise missiles are examples of unmanned vehicle systems. The lowest unit cost is the greatest priority for expendable target drones and decoys. A minimum Mach number of 0.8 is normally necessary, along with a short-range. Because of their inexpensive cost and low mass flow rates, single spool turbojets are commonly utilized with centrifugal compressors. Any additional weight or frontal area is acceptable. As a balance between low values favoring weight and frontal area and high values favoring SFC and specific thrust, engine pressure ratios are normally between 4:1 and 8:1. Drones are similar to distributed sensors in that they are intelligent and easy to collect data from. They can be used as a foundation for a variety of programs, applications, and business models. In reality, all drone mapping software, planning software, drone insurance policies, and markets for people looking for drone pilots have all surfaced. All of these elements are projected to create the lucrative potential for the development of Target Drone in the global market.
One of the primary factors driving this market's growth is the increase in finances in the defense industry, which concentrates on military training in rising nations. Second, the increasing number of patent and innovation registrations in various developing countries is another factor driving the Target Drones Market forward. Another element that will boost this industry's revenues is the different technical improvements that are taking place. For Instance, SkySafe, airspace security, and management technology business, has raised $30 million in a Series B round led by Kingfisher Investment Advisors and including new investors Gaingels. In addition, industrialists and the government are investing heavily in R&D, which is another factor that will contribute to the industry's growth.
Target Drone Market Report Highlight:
- By Engine Type, the Turbojet engine segment is expected to be dominated in the Target Drone Market over the forecast period. The turbojet is an airbreathing jet engine, typically used in aircraft.
- By Platform, Arial target is expected to be dominating the Target Drone Market.
- By End Use, the Defense segment dominates the Target drone market over the forecasted period. Military modernization operations aimed at improving combat training with Target Drones.
- North America presently dominates the Target Drone industry, and this dominance is expected to remain in the coming years.
- The Asia-Pacific region has fasted growing region in the Target Drone Market in terms of market size and volume.
Target Drone Market Segmentation:
By Engine Type
- Internal Combustion Engine
- Jet Engine
- Others
By Platform
- Aerial Targets
- Ground Targets
- Underwater Targets
- Sea Surface Targets
By End-Use
- Defense
- Homeland Security
- Commercial
Major Key Players for Target Drone Market:
- The Boeing Company (US)
- QinetiQ Group plc (UK)
- Northrop Grumman Corporation (US)
- Kratos Defense & Security Solutions
- Inc. (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)
- and Denel Dynamics (South Africa)
For this report, Introspective Market Research has segmented the Target Drone Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2021-2028)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Turkey
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Vietnam
- Thailand
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Iran
- Rest of MEA
- Latin America
- Brazil
- Argentina
- Rest of LATAM
