1 INTRODUCTION 22
1.1 OBJECTIVES OF THE STUDY 22
1.2 MARKET DEFINITION 22
1.3 STUDY SCOPE 23
1.3.1 MARKETS COVERED 23
1.3.2 REGIONAL SCOPE 23
1.3.3 YEARS CONSIDERED FOR THE STUDY 24
1.4 CURRENCY 24
1.5 LIMITATIONS 25
1.6 MARKET STAKEHOLDERS 25
1.7 SUMMARY OF CHANGES 26

2 RESEARCH METHODOLOGY 27
2.1 RESEARCH DATA 27
2.1.1 SECONDARY DATA 29
2.1.1.1 Key data from secondary sources 29
2.1.2 PRIMARY DATA 30
2.1.2.1 Key data from primary sources 30
2.2 FACTOR ANALYSIS 30
2.2.1 INTRODUCTION 30
2.2.2 DEMAND-SIDE INDICATORS 31
2.2.2.1 Rising demand for military equipment 31
2.2.3 SUPPLY-SIDE INDICATORS 31
2.2.3.1 Technological advancements in the field of target drones 31
2.3 MARKET SIZE ESTIMATION 32
2.3.1 BOTTOM-UP APPROACH 32
2.3.2 TOP-DOWN APPROACH 32
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION 33
2.5 RESEARCH ASSUMPTIONS 34

3 EXECUTIVE SUMMARY 35

4 PREMIUM INSIGHTS 38
4.1 ATTRACTIVE OPPORTUNITIES IN TARGET DRONES MARKET 38
4.2 TARGET DRONES MARKET, BY BUILD 38
4.3 TARGET DRONES MARKET, BY APPLICATION 39
4.4 TARGET DRONES MARKET, BY REGION 39

5 MARKET OVERVIEW 40
5.1 INTRODUCTION 40
5.2 MARKET DYNAMICS 40
5.2.1 DRIVERS 41
5.2.1.1 Increased emphasis on enhanced military training 41
5.2.1.2 Advantages of target drones over manned target vehicles 41
5.2.2 RESTRAINTS 42
5.2.2.1 Lack of skilled and trained personnel 42
5.2.3 OPPORTUNITIES 42
5.2.3.1 Full-scale conversion of target drones for simulation of a war scenario 42
5.2.3.2 Growing defense budgets of major economies 42
5.2.3.3 Demand for target drones for homeland security applications 43
5.2.4 CHALLENGES 43
5.2.4.1 Lack of sustainable power sources to improve endurance of drones 43
5.2.4.2 Effect of COVID-19 on supply chain and business development programs 44
5.3 AVERAGE SELLING PRICE TREND 45
5.4 VALUE CHAIN ANALYSIS 45
5.5 MARKET MAP 46

6 INDUSTRY TRENDS 47
6.1 INTRODUCTION 47
6.2 KEY TECHNOLOGY VENDORS 47
6.3 MATURITY MAP OF TARGET DRONES 48
6.4 TECHNOLOGY TRENDS 48
6.4.1 SCORING SYSTEMS 49
6.4.2 CONVERTED DRONES 49
6.4.3 ELECTRONIC COUNTERMEASURES 49
6.4.4 CHAFF DISPENSERS 49
6.4.5 FLARE DISPENSERS 50
6.4.6 RECOVERY SYSTEMS 50
6.5 INNOVATION AND PATENT REGISTRATIONS 50

7 TARGET DRONES MARKET, BY TYPE 52
7.1 INTRODUCTION 53
7.2 FIXED WING 54
7.2.1 DRONES 55
7.2.1.1 Growing demand to simulate enemy threats expected to drive growth of the drones segment 55
_
7.2.2 CRUISE TARGETS 55
7.2.2.1 Demand for cruise targets with high speed expected to surge 55
7.2.2.2 Low speed 56
7.2.2.3 Subsonic 56
7.2.2.4 Supersonic 56
7.3 ROTARY WING 56

8 TARGET DRONES MARKET, BY END USE 57
8.1 INTRODUCTION 58
8.2 AERIAL TARGETS 59
8.2.1 INCREASING PROCUREMENT BY ARMED FORCES DRIVES AERIAL TARGETS SEGMENT 59
8.3 GROUND TARGETS 59
8.3.1 USE IN AIR & GROUND CREW TRAINING DRIVES GROWTH OF GROUND TARGETS SEGMENT 59
8.4 MARINE TARGETS 59
8.4.1 GROWING NAVAL DEFENSE SECTOR DRIVES DEMAND FOR MARINE TARGET DRONES 59
8.4.2 UNDERWATER TARGETS 60
8.4.2.1 Preference for low-cost alternatives to submarines in ASW training fuels market growth of underwater targets 60
8.4.3 SEA SURFACE TARGETS 60
8.4.3.1 Increasing naval gunnery training and weapons testing drives growth of sea surface targets segment 60

9 TARGET DRONES MARKET, BY END-USE SECTOR 61
9.1 INTRODUCTION 62
9.2 DEFENSE 62
9.2.1 MILITARY 63
9.2.1.1 Wide-scale use of target drones by armed forces for training drives growth of military segment 63
9.2.2 HOMELAND SECURITY 63
9.2.2.1 Application of target drones for surveillance and police training expected to drive growth of homeland security segment 63
9.3 COMMERCIAL 63
9.3.1 INVESTMENT BY PUBLIC AND PRIVATE SECTORS WILL SPUR DEMAND FOR TARGET DRONES IN COMMERCIAL SECTOR 63

10 TARGET DRONES MARKET, BY TARGET TYPE 64
10.1 INTRODUCTION 65
10.2 FULL-SCALE TARGETS 66
10.2.1 CONVERSION OF RETIRED FIGHTER AIRCRAFT INTO TARGET DRONES DRIVES GROWTH OF FULL-SCALE SEGMENT 66
10.3 SUBSCALE TARGETS 66
10.3.1 WIDE APPLICATION AREAS DRIVE DEMAND FOR SUBSCALE TARGET DRONES 66
10.4 FREE-FLYING TARGETS 66
10.4.1 DEMAND FOR LOW-COST AERIAL TARGETS STIMULATES GROWTH OF FREE-FLYING SEGMENT 66
10.5 TOWING TARGETS 66
10.5.1 INCREASE IN TRACKING & FIRING PRACTICE DRIVES DEMAND FOR TOWING TARGET DRONES 66
10.6 SPORTING TARGETS 67
10.6.1 INCREASING NUMBER OF TARGET SHOOTING SPORTS DRIVE GROWTH OF THIS SEGMENT 67

11 TARGET DRONES MARKET, BY APPLICATION 68
11.1 INTRODUCTION 69
11.2 COMBAT TRAINING 69
11.2.1 WIDE-SCALE ADOPTION OF TARGET DRONES BY DEFENSE FORCES EXPECTED TO DRIVE USE IN COMBAT TRAINING 69
11.3 TARGET & DECOY 70
11.3.1 ADVANCEMENTS IN THREAT SIMULATION TECHNOLOGY FUEL GROWTH OF TARGET & DECOY SEGMENT 70
11.4 RECONNAISSANCE 70
11.4.1 GROWING CAPABILITIES OF TARGET DRONES STIMULATE THEIR ADOPTION FOR RECONNAISSANCE APPLICATIONS 70
11.5 TARGET IDENTIFICATION 70
11.5.1 GROWING ADOPTION OF UNMANNED SYSTEMS FOR TARGET IDENTIFICATION EXPECTED TO DRIVE THE SEGMENT 70
11.6 TARGET ACQUISITION 70
11.6.1 ADVANCEMENTS IN SENSORY DISPLAY FORMAT STIMULATES DEMAND FOR TARGET ACQUISITION APPLICATIONS 70

12 TARGET DRONES MARKET, BY ENGINE TYPE 71
12.1 INTRODUCTION 72
12.2 JET ENGINES 72
12.2.1 BENEFITS OF JET ENGINES OVER OTHER PROPULSION SYSTEMS EXPECTED TO DRIVE MARKET 72
12.3 INTERNAL COMBUSTION (IC) ENGINES 73
12.3.1 USE OF IC ENGINES IN LIGHTWEIGHT TARGET DRONES EXPECTED TO SURGE DEMAND 73
12.4 OTHERS 73
12.4.1 EFFORTS TO DEVELOP ALTERNATIVE PROPULSION SYSTEMS DRIVE MARKET GROWTH 73
_

13 TARGET DRONES MARKET, BY BUILD 74
13.1 INTRODUCTION 75
13.2 NEWBUILD 76
13.2.1 LIMITED DEFENSE BUDGET ALLOCATION IN EMERGING ECONOMIES DRIVES DEMAND FOR NEWBUILD TARGET DRONES 76
13.3 CONVERTED 76
13.3.1 INCREASING CONVERSION OF RETIRED FIGHTER AIRCRAFT INTO TARGET DRONES EXPECTED TO DRIVE SEGMENT GROWTH 76

14 TARGET DRONES MARKET, BY SPEED 77
14.1 INTRODUCTION 78
14.2 HIGH (> 250 MPS) 78
14.2.1 NEED TO REPLICATE THREATS IN MILITARY PRACTICES DRIVES DEMAND FOR HIGH-SPEED TARGET DRONES 78
14.3 LOW (< 250 MPS) 79
14.3.1 LOW COST AVAILABILITY EXPECTED TO DRIVE DEMAND FOR LOW-SPEED TARGET DRONES 79

15 TARGET DRONES MARKET, BY PAYLOAD CAPACITY 80
15.1 INTRODUCTION 81
15.2 HIGH (>40 KG) 81
15.2.1 USE OF TARGET DRONES FOR CRITICAL DEFENSE APPLICATIONS DRIVES DEMAND FOR HIGH PAYLOAD CAPACITY 81
15.3 MEDIUM (20 KG TO 40 KG) 82
15.3.1 INCREASING NEED FOR DRONES TO PERFORM ADDITIONAL FUNCTIONS DRIVES DEMAND FOR MEDIUM PAYLOAD CAPACITY 82
15.4 LOW (<20 KG) 82
15.4.1 USE IN BASIC APPLICATIONS SUCH AS COMBAT TRAINING PROPELS DEMAND FOR LOW PAYLOAD TARGET DRONES 82
16 TARGET DRONES MARKET, BY MODE OF OPERATION 83
16.1 INTRODUCTION 84
16.2 AUTONOMOUS 84
16.2.1 ADVANCEMENTS IN SENSOR TECHNOLOGY DRIVE AUTONOMOUS DRONE ADOPTION ACROSS THE GLOBE 84
16.3 REMOTELY PILOTED 85
16.3.1 GROWING NEED FOR BETTER CONTROL OF DRONES FUELS DEMAND FOR REMOTELY PILOTED OPTIONS 85
16.4 OPTIONALLY PILOTED 85
16.4.1 INCREASING USE OF TARGET DRONES IN RECONNAISSANCE DRIVES OPTIONALLY PILOTED SEGMENT 85
_
17 TARGET DRONES MARKET, BY REGION 86
17.1 INTRODUCTION 87
17.1.1 COVID-19 IMPACT ON TARGET DRONES MARKET, BY REGION 87
17.2 NORTH AMERICA 91
17.2.1 AVERAGE SELLING PRICE TREND (2017-2019) 92
17.2.1.1 PESTLE analysis: North America 92
17.2.2 US 95
17.2.2.1 Increasing use of commercial and military drones will drive growth of target drones market in the US 95
17.2.3 CANADA 96
17.2.3.1 Stringent regulations and licensing requirements restrain the growth of the target drones market in Canada 96
17.3 EUROPE 98
17.3.1 AVERAGE SELLING PRICE TREND (2017-2019) 99
17.3.1.1 PESTLE analysis: Europe 100
17.3.2 UK 103
17.3.2.1 Technological advancements and changes in regulatory policies expected to drive market in the UK 103
17.3.3 ITALY 104
17.3.3.1 Increasing demand for border surveillance and maritime patrol expected to drive the market in Italy 104
17.3.4 FRANCE 106
17.3.4.1 Government initiatives to support development of UAV capabilities expected to fuel the market in France 106
17.3.5 RUSSIA 108
17.3.5.1 Increasing spending on procurement of technologically advanced combat drones drives demand in Russia 108
17.3.6 REST OF EUROPE 110
17.4 ASIA PACIFIC 111
17.4.1 AVERAGE SELLING PRICE TREND (2017-2019) 113
17.4.1.1 PESTLE analysis: Asia Pacific 113
17.4.2 CHINA 116
17.4.2.1 Increasing procurement for use in military and commercial applications drives market for target drones in China 116
17.4.3 INDIA 117
17.4.3.1 Increasing demand for military UAVs leading to indigenous development of drones in India 117
17.4.4 SOUTH KOREA 119
17.4.4.1 Use of target drones for surveillance and monitoring applications is increasing in South Korea 119
17.4.5 AUSTRALIA 121
17.4.5.1 Growing use of target drones in commercial sector to drive market growth in Australia 121
17.4.6 REST OF ASIA PACIFIC 122
_
17.5 MIDDLE EAST & NORTH AFRICA 124
17.5.1 AVERAGE SELLING PRICE TREND (2017-2019) 124
17.5.2 EGYPT 127
17.5.2.1 Increasing demand for armed drones drives the market in Egypt 127
17.5.3 ISRAEL 128
17.5.3.1 Increased spending in R&D of target drones for military and commercial applications drives the market in Israel 128
17.5.4 BY END USE 129
17.5.5 REST OF MIDDLE EAST & NORTH AFRICA 130
17.6 REST OF THE WORLD (ROW) 131
17.6.1 AVERAGE SELLING PRICE TREND (2017-19) 132
17.6.2 BRAZIL 134
17.6.2.1 Increasing use of target drones by defense sector drives the market in Brazil 134
17.6.3 SOUTH AFRICA 136
17.6.3.1 Investment by international players to drive the market in South Africa 136
17.6.4 OTHERS IN ROW 137

18 COMPETITIVE LANDSCAPE 139
18.1 INTRODUCTION 139
18.1.1 MARKET EVALUATION FRAMEWORK 139
18.2 COMPETITIVE LEADERSHIP MAPPING 140
18.2.1 VISIONARY LEADERS 140
18.2.2 INNOVATORS 140
18.2.3 DYNAMIC DIFFERENTIATORS 140
18.2.4 EMERGING COMPANIES 140
18.3 RANKING OF KEY PLAYERS, 2020 142
18.4 COMPETITIVE SCENARIO 143
18.4.1 NEW PRODUCT LAUNCHES 143
18.4.2 CONTRACTS 144
18.4.3 OTHER STRATEGIES 146

19 COMPANY PROFILES 147
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
19.1 THE BOEING COMPANY 147
19.2 QINETIQ GROUP PLC 151
19.3 NORTHROP GRUMMAN CORPORATION 156
19.4 KRATOS DEFENSE & SECURITY SOLUTIONS, INC. 160
19.5 AIRBUS GROUP 164
19.6 LOCKHEED MARTIN CORPORATION 167
19.7 LEONARDO S.P.A. 169
19.8 BSK DEFENSE S.A. 171
19.9 AIR AFFAIRS AUSTRALIA PTY LTD. 172
19.10 SAAB AB 173
19.11 AEROTARGETS INTERNATIONAL, LLC 174
19.12 L3 ASV 175
19.13 BAE SYSTEMS 177
19.14 RAYTHEON 178
19.15 GENERAL DYNAMICS CORPORATION 180
19.16 ALMAZ-ANTEY 181
19.17 THALES 182
19.18 EMBENTION 185
19.19 GRIFFON AEROSPACE 186
19.20 DENEL DYNAMICS 187
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.

20 APPENDIX 188
20.1 DISCUSSION GUIDE 188
20.3 AVAILABLE CUSTOMIZATIONS 194
20.4 RELATED REPORTS 194
20.5 AUTHOR DETAILS 195