Target Drones Market is Pegged to Cross USD 5.5 Billion by 2021

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Rising investment, funding and practical researches successfully boosting revenue generation of target drones market with the Americas being the leading market region.

Apart from the conventional drivers, the market scope is expanding by entering into medical sciences as a trending sector. While we are accustomed to chemotherapy, radiotherapy, smart nanotechnology, immunotherapy and others since a while now, recent news of a target drone fighting against cancer is taking the internet by storm. Taking advantage of target drones in agricultural domain is viewed as another possible game changer in the future.

Market Growth Overview:

Healthy investments, better funding, improved R&D and rising support from increasing number of governments are prime market drivers which are leading to shrinking in sizes of the drones. Challenges are being overcome with additional budget allotments and support from private organizations. Together, all the novel approaches are redefining efficiency, reliability, performance and durability of the overall market.

Target drones are basically unmanned vehicles which are remotely controlled and used for various defense operations. These are specifically created for Research, Development, Testing & Evaluation (RDT&E) purposes. Target and decoy, training, reconnaissance are noted to be the prime applications. The market is widely driven by increase in spending of aerial target developments, initiatives for unmanned combat aerial vehicle programs, emphasis on testing & evaluation and training and some more.

Geographical Analysis:

Americas is the dominating market which held a major revenue share in 2015 mainly driven by investments in Special Forces, UAVs and fighter aircraft able to carry ground attacks. Being a host to a vast amount of research and application of target drones, Americas is expected to further drive the market in the future. Whereas, on the other hand, APAC is showing signs of the fastest growth rate resulting from developing nations such as China and India developing indigenous air based defense equipment in order to reduce their import spending on defense. Europe and rest of the world follow in the end.

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Segmentation Overview:

The Target Drone Market is segmented into three domains: by specification, by engine type and applications. Under specification it is further categorized to size, speed, endurance, altitude, autonomy, maneuverability, reach, payload and retrieval system. 

  1. By Specification: Size, Speed, Altitude and Others

  2. By the different types of engines used in target drones: Piston Engine, Wankel engine, Turboprop, Turbojet and Others

  3. By Applications: are Target and Decoy, Testing and Calibration of Weapon System, Training, Reconnaissance, Tracking and Monitoring, Research and Development of Weapons etc.

  4. By Geography: Americas, Europe, APAC and Rest of the World

Vendors Brief: Out of more than 40 players of the target drones market included in this research report by IndustryARC, some of the prominent ones include: 

  • Lockheed Martin Corporation (U.S), 

  • The Boeing Co. (U.S), 

  • Northrop Grumman Corporation (U.S), 

  • Griffon Aerospace, Inc. (U.S), 

  • BAE Systems, plc. (U.K),

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