Target Drone Market size expected to reach USD 9.42 billion with CAGR 7.20% by 2030

Global Target Drone Market Size Was Valued at USD 5.4 billion In 2022, And Is Projected to Reach USD 9.42 billion By 2030, Growing at A CAGR of 7.20% From 2023 To 2030.

Market Overview:

The Target Drone  market has gained significant importance within the defense sector, driven by the need for effective military training, armament calibration, and testing. These unmanned aerial vehicles, also known as UATs, serve as realistic bullseye targets for military exercises and tests due to their affordability. The Autopilot feature emerges as a key solution for programming and controlling these target drones, offering remarkable versatility and cost-effectiveness. This autopilot allows the integration and activation of various payloads, enabling advanced maneuvers, sudden direction changes, and realistic threat simulations. It supports up to 64 UATs simultaneously, even at high speeds and acceleration rates. The market caters to both specially designed target aircraft and modified older aircraft, providing an array of specialized equipment such as flight control systems, measurement devices, telemetry devices, and simulation equipment. As technology advances, the market shifts towards sophisticated, unmanned target drones that incorporate advanced features like autopilots, satellite navigation, and electronic systems, thus contributing to the market's growth and evolution.

Top Key Players for Target Drone Market:

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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The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.

Market Dynamics and Factors for Target Drone Market:

Drivers:

Surge in Global Military Spending and The Heightened Demand for Advanced Defense Solutions

The escalating global military expenditure, projected to reach $1,981 billion in 2020, as well as increased modernization and deployment of advanced defensive systems due to rising threats and offensive capabilities worldwide, are driving the demand for target drone systems in the defense sector. With 2.4 percent of the global GDP allocated to military spending, the growing need for contemporary defense technologies presents significant growth prospects for the target drone market, poised to capitalize on the increasing defense investments.

Opportunities:

Growing Investments by Governments and Private Companies, With A Focus on And Military Applications

Countries like China, Israel, and the United States have emerged as key players in this arena, each with a unique focus. While China leverages its manufacturing capabilities and hardware solutions for commercial applications, Israeli firms lead in military application development, exemplified by Airobotics' autonomous solutions. Meanwhile, US enterprises excel in specialized commercial hardware and end-to-end software solutions, fueled by a well-established industry and demand for analytics. As these nations race to advance their offerings, the target drone market is poised for substantial growth, with expanded horizons in both commercial and military domains.

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Segmentation Analysis of the Target Drone Market:

By Engine Type, the Turbojet engine category is poised for dominance in the Target Drone Market, offering dependability, high fuel efficiency, extended operation duration, and minimal maintenance needs. The North American market is witnessing significant growth, driven by emerging companies and favorable regulations. Kratos, for instance, manufactures key aerial target platforms, like the BQM-167A and BQM-177A, bolstering the target drone market through turbojet engine adoption.

By End Use, the Defense sector commands the Target Drone market due to robust military modernization efforts. Airbus, a key player, offers a comprehensive range of target systems for realistic combat training, including towed and direct aerial targets. Their success, with over 2,700 missions and 1,700+ direct targets deployed, solidifies Airbus as a leading force in the target drone market.

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

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Regional Analysis of the Target Drone Market:

North America dominates the Target Drone Market, led by the United States, owing to increased defense spending, expanding use of unmanned aerial vehicles in defense, and established target drone companies like Aero Targets International, Boeing, Griffon Aerospace, and Kratos Defense & Security Solutions. Meanwhile, the Asia Pacific is anticipated to experience rapid growth in the Target Drones Market, with indigenous armed drone development gaining traction, particularly in the Indo-Pacific, due to evolving military strategies and regional security concerns.

By Region     

• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)

Key Industry Development:

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.

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