Global Target Drone Market is valued approximately USD XX billion in 2019 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2020-2027. Target drone are remote controlled unmanned aerial vehicles (UAVs), used for training individuals in anti-aircraft crew. They are used for military training and as ground target, arial target, underwater target, and sea surface target. The target drone imitates the missiles, as it is also used to test weapon calibration, anti-missile and anti-submarine training sessions. The global Target Drone market is facing challenges due to effect of COVID-19 on supply chain and business development programs. However, increased emphasis on enhanced military training and advantages of target drones over manned target vehicles are the few factors responsible for growth of the market over the forecast period. For instance: as per Statista, the United States spend around USD 466.76 billion on its military in 2000 and the figure is increased by USD 718.69 billion military spending in 2019. Moreover, the introduction of new target drone and other strategic alliance by market key players will create a lucrative demand for this market. For instance: on 09th September 2019, Qinetiq Group Plc launched Next -Generation Banshee, “Banshee NG”., the target that recreates fast flying jets and missiles, enabling test and evaluation and live fire training exercises. Whereas, lack of skilled and trained personnel is the major factor restraining the growth of the global Target Drone market during the forecast period.
The regional analysis of global Target Drone market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
The Boeing Company
Qinetiq Group Plc
Northrop Grumman Corporation
Kratos Defense & Security Solutions, Inc.
Lockheed Martin Corporation
Bsk Defense S.A.
Air Affairs Australia Pty Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
by Engine Type:
Sea Surface Target
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Target Drone Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers