Target Drones Market Overview: Growth Trends and Opportunities (2024-2030)
Global Target
Drones Market Outlook
Target drones are
specialized unmanned aerial vehicles (UAVs) used for sea surface targets,
underwater targets, ground targets, and aerial targets. The global target
drones market report by Market Research Future (MRFR) consists of drivers,
challenges, opportunities, and trends for the period of 2024 to 2030 (forecast
period). The Target
Drones Market is projected to reach a valuation of USD 8.3 billion by 2030,
growing at a robust CAGR of 7.80% during the forecast period from 2024 to 2030.
Market
Scope
The global target drones’
market is estimated to exhibit a CAGR exceeding 9% over the forecast period.
The increased defense expenditure among nations and investments in training
programs are major drivers of the market. Rising instances of piracy and
terrorism are expected to fuel its market demand positively. The need for
security measures against enemy forces can drive the demand for target drones
which can aim for far-off and nearby targets.
But lack of skilled
personnel for controlling target drones can hamper market growth.
Segmentation
The global target drones’
market is segmented by end user, engine type, platform type, and target type.
By end user, the global
market can be segmented into defense, homeland security, and commercial. The
defense segment is expected to dominate the global target drone’s market. This
can be attributed to the use of drones for anti-aircraft, anti-missile, and
anti-submarine military training in the defense sector. Its need for testing
new weapons can drive the segment growth.
Based on engine type,
the global target drones’ market can be segmented into jet engines, IC engines,
and others. The jet engine segment is expected to dominate the global market
during the forecast period due to its high adoption in the military.
By platform type, it is
segmented into ground targets, sea surface targets, underwater targets, and
aerial targets.
By target type, it is
segmented into towing, sporting, full-scale, semi-scaled, and free flying.
Regional
Analysis
North America, Europe,
Asia Pacific (APAC), Latin America, and the Middle East & Africa (MEA) are
regions considered for the target drone’s market.
North America is
expected to hold the largest share of the target drones market during the
forecast period, owing to the rising investment in training programs in the
defense and the increased budget allocated for target drones in the U.S. Customization
of drones for military purposes is predicted to drive regional market growth. Furthermore,
in the US, old fighter planes are converted into aerial targets for missile
training and testing training and mimic real-time threat scenarios for military
anti-aircraft. The use of drones for smuggling and trespassing over the border
can bode well for the global target drones market growth.
APAC is expected to
witness the fastest growth rate during the forecast period from developing
countries such as India and China. In growing nations, target drones can lack
modification as they are sourced from countries such as Russia and the US. Integration
of radar and acoustic based technologies for sensing aircraft can work in training
aircraft crews. Rise of indigenous missile production and testing of new
weapons can fuel the demand for target drones.
Competition
Outlook
Leonardo S.p.A., ASV
Global, Airbus S.A.S, Kratos Defense & Security Solutions, Inc., Saab AB, AeroTargets
International, LLC, Northrop Grumman Corporation, Boeing Company, QinetiQ Group
Plc, and Lockheed Martin Corporation are noteworthy players of the global
ePharmacy market.
About US
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