Target Drones Market Research Report 2019: Industry Size, Share, Trends, Growth and Opportunity Assessment, Regional Analysis and Segmentation By End-user (Defense, Homeland Security, Commercial), Platform (Aerial, Ground, Underwater, and Sea Surface), Engine Type (IC, Jet, others), Target Type (Full & Sub-scaled, Free Fly, Tow, Sport), & Region- Forecast till 2023
The application area of target drones is increasing rapidly across various use cases. They are used for ground targets, aerial targets, underwater targets, and sea surface targets and is very popular in the defense sector.
The global target drones market is anticipated to expand at a CAGR of 9% over the forecast period of 2018-2023, projects Market Research Future (MRFR) in its latest in-depth research report.
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Increased reliance has been witnessed on target drones on the battlefield. The defense sector of multiple countries is allocating funds on target drones within the context of growing geopolitical and cross border tensions. Target drones can be utilized for counter-air defense, homeland security, as a bullseye for weapon calibration. Extensive usage of target drones for military training programs is also a crucial factor driving the growth of the market. The rise in funds for training programs in the military sector is boosting the market growth of target drones. In addition, line fit target drones are being widely accepted owing to their cost-effectiveness and wider accessibility.
Defense contractors are making a new investment in small portable drone systems and are betting on the trend of procurement of target drones by major armies across the globe. Technological advancements in simulation technologies coupled with massive investment in R&D activities, is further creating a conducive environment for the growth of the market. Contrarily, the target drones market growth might be hindered by a lack of skilled workforce to control and operate target drones.
Key Players
- Lockheed Martin Corporation (U.S.)
- Saab AB (Sweden)
- AeroTargets International LLC (U.S.)
- Kratos Defense & Security Solutions Inc. (U.S.)
- Airbus S.A.S (France)
- QinetiQ Group Plc (U.K)
- ASV Global (U.K)
- Boeing Company (U.S.)
- Leonardo S.p.A. (Italy)
- Northrop Grumman Corporation (U.S.)
Industry Updates
May 2019 – India’s Defense Research and Development Organization (DRDO) announced the successful flight test of its High-speed Expendable Aerial Target (HEAT) drone, Abhyas. The pilotless target drone has been designed to serve as a target in live-fire weapons tests. It is developed on a MEMS-based navigation system.
Segmentation
The global target drone market has been segmented based on end user, platform, engine type, and target type.
By end-user, the target drone market has been segmented into defense, homeland security, and commercial. The defense sector is anticipated to lead the market. The agitated geopolitical territorial landscape has resulted in hefty investment in target drones, which would drive the defense segment over the forecast period.
By platform, the target drone market has been segmented into aerial, ground, underwater, and sea surface.
By engine type, the target drone market has been segmented into internal combustion engine, jet engine, and others. The jet engine segment is expected to lead the market over the forecast period. High-speed target drones are being extensively used in the defense and military sector for training purposes which can be credited for the growth of the segment.
By target type, the target drone market has been segmented into full-scaled, sub-scaled, free-flying, towing, sporting, and others.
Regional Analysis
By region, the target drones’ market has been segmented into North America, South America, The Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).
North America is domineering the target drone market on account of its robust defense sector, which pours in substantial sum on procurement of armed, unmanned aerial vehicles and training programs. Moreover, the US defense sector is increasing its budget allocation for target drones, weapon testing, and missile testing, which is supporting the growth of the market. Besides, target drones are sourced from developed countries such as Russia and the US as developing countries lack the infrastructure to support the development of drones, which further propels the demand for target drones in the region.
The APAC target drone market is anticipated to witness the fastest growth over the forecast period. Developing countries in the region are increasing investment in the defense sector, which has fueled the expansion of the target drone market.
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Scope of Report
The report for Global Target Drones Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
List of Tables
Table 1 Global Target Drones Market: by Region, 2018-2023
Table 2 North America Target Drones Market: by Country, 2018-2023
Table 3 Europe Target Drones Market: by Country, 2018-2023
Table 4 Asia Pacific Target Drones Market: by Country, 2018-2023
Table 5 Row Target Drones Market: by Country, 2018-2023
Table 6 Global Target Drones Market, by End-user, by Regions, 2018-2023
Table 7 North America Target Drones Market, by End-user, by Country, 2018-2023
Table 8 Europe Target Drones Market, by End-user, by Country, 2018-2023
Table 9 Asia Pacific Target Drones Market by End-user, by Country, 2018-2023
Table 10 Row Target Drones Market by End-user, by Country, 2018-2023
Continued………
List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Global Target Drones Market Share, by End-user, 2018 (%)
Continued…….
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