info@marketresearchfuture.com   📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)
Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Key Questions Answered
  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.

Target Drones Market Size

ID: MRFR//4542-HCR | 100 Pages | Author: Sejal Akre| June 2024

The target drones market is influenced by various factors that collectively shape its growth, including technological advancements, military modernization efforts, commercial demand, regulatory landscapes, and geopolitical dynamics. Technological innovation stands as a pivotal factor driving this market. Advances in drone technology, encompassing areas like artificial intelligence, sensor capabilities, autonomy, and miniaturization, continually redefine the capabilities of target drones. Manufacturers strive to develop drones that mirror sophisticated enemy aircraft or missiles, enhancing realism in training scenarios.
Military modernization initiatives worldwide significantly impact the target drone market. Nations increasingly invest in defense systems and training tools to bolster their armed forces' capabilities. Target drones play a crucial role in modern military training by offering realistic simulations of air threats, aiding in evaluating weapon systems, and honing combat skills. The demand for high-fidelity training environments drives procurement and development of more advanced and adaptable target drones.
Commercial demand and diversification beyond the defense sector contribute to market growth. Industries like entertainment, agriculture, and environmental monitoring explore drones for various applications, expanding the market beyond military use. The versatility of target drones in non-defense sectors fuels innovation and increases production, creating new market opportunities.
Regulatory frameworks and safety concerns significantly impact the target drone market. Striking a balance between innovation and regulatory compliance remains a challenge. Airspace regulations, privacy concerns, and security issues influence the adoption of target drones, particularly in civilian applications. Adherence to stringent safety measures and ethical use guidelines is crucial for market players seeking broader acceptance and sustained growth.
Moreover, geopolitical dynamics play a role in shaping the market for target drones. Global tensions and evolving security threats prompt nations to focus on enhancing military readiness. This leads to increased defense budgets, driving procurement of advanced training tools such as target drones. Geopolitical shifts and regional conflicts often influence the demand and deployment of these drones, contributing to market fluctuations.
Supply chain dynamics, manufacturing capabilities, and competition among market players also influence the target drone market. The ability to offer cost-effective, reliable, and technologically advanced solutions while navigating competitive landscapes impacts market positioning and growth opportunities. Continuous advancements, partnerships, and strategic collaborations drive innovation and market penetration.
Additionally, the market for target drones is affected by economic factors, including fluctuations in raw material prices, currency exchange rates, and global economic conditions. These factors can influence manufacturing costs, pricing strategies, and overall market demand.

Global Target Drones Market Overview


Target Drones Market Size Anticipated to Reach at a USD 8.3 Billion by 2030, CAGR of 7.80% during 2024-2030.

 

Target Drones Market

The target drones are very identical to unmanned aerial vehicles. These drones find their application in ground, aerial, sea surface, and underwater targets. These drones are very popular in the defense industry and are used for training in anti-craft warfare. Usually, these drones are controlled from a remote location. These drones are mostly used by the armed forces for helping the soldiers in carrying out operational activities successfully. These drones have a wonderful and sleek design that keeps on changing as the design of drones is directly proportional to the speed and efficiency of drones. Target drones are controlled with the assistance of a computer & an operator, and sometimes a remote control is enough.


Covid-19 Analysis of Target Drones Market


The coronavirus pandemic has given a very harsh time to all the manufacturing, developing, production, and logistic industries. Also due to this COVID-19 situation, many restrictions were imposed by the government of different countries. The Target Drones Market has not been affected a bit during this pandemic. As these drones find their use in the defense sector and no country in this world will or is ready to compromise with its external security so the special permissions were given by the government to the manufacturers and operators of these drones to continue their work from their offices and not from their homes. So, this industry is working at its normal pace as it was working before the pandemic situation.


Market Dynamics


Drivers


First of all, the increasing funds in the defense industry that focuses on military training in the emerging nation is one of the major factors that will boost the growth of this market. Secondly, the rising number of patent and innovation registrations in various developing nations is another component that is responsible for the growth of Target Drones Market. Also, the various technological advancements taking place in this sector are another factor that will enhance the profits of this industry. In addition to this massive investments are being made by the industrialists and government in R&D which is one more element that will boost the growth of this industry.


Restraints


The working of these drones highly depends upon operators. And it is a well-known fact that without proper knowledge of a thing it cannot be operated, and effective results cannot be achieved. These Target Drones Market are the latest invention and not many people are aware of what are the technicalities associated with their efficient working. So this factor's lack of skilled labor force to control and operate these drones is another factor that may restrain the growth of this market.


Technology Analysis


Generally, the normal fuel cells are used as a primary source of power in these drone but due to their high cost, less durability, and takes a lot of time to respond to load change. Keeping this factor in mind a Singapore-based company started the manufacturing of hydrogen fuel cells which are very small, light in weight, and are more durable in comparison to others which in turn proved to be a better alternative than ordinary fuel cells. So, the company entered into a partnership with 6 manufacturing companies to expand their network all around the globe.


Study Objectives



  • To review the point of view of various Target Drones Market experts and leaders and anticipate compound annual growth rate and market growth rate by the end of the global forecast

  • To underline the competitive market outlook and analyze the yield models of key market players, worldwide.

  • To examine the various market dynamics like trends, drivers, and restraints that are most likely to play a role in helping the Target Drones Market and its different segments growing in the domestic as well as international market.


Segment Overview


Target Drones Market share is expected to witness significant growth owing to the performance of different market segments. Among these, the defense segment will be the fastest-growing and also contribute towards this market growth more than any other segment as these target drones are mainly used in anti-aircraft, missile, and submarine military training. Also, the jet engine segment will experience noteworthy growth during the forecast period because of the high rate of adoption of these technologies in the defense segment due to their high-speed engine technologies. Lastly, the line-fit segment will also experience outstanding growth as the customized fit is only available and manufactured in the US and UK. For a magnifying use the Target Drones Market has been segmented into the following on different bases:



  • Based on end-user, it has a defense, homeland security, and commercial.

  • Based on engine type, it has an integrated circuit engine, jet engines, and others.

  • Based on fittings type, it has customized fit and line fit.


Regional Analysis


The Target Drones Market movement is extraordinarily working in 6 major regions of the world that is North America, Asia Pacific, Europe, Africa, South America, and the Middle East. Among all these regions, the North American region will dominate this market and the reason for that is an increase in investments made in training programs in the defense sector. Also, the budget allocated by the US government for target drones is very huge. Also, the initiative was taken by the US government to convert old fighter aircraft to aerial target drones which in turn help missile training and testing and also mock real-time threats for military anti-air crafts. The Asia Pacific region will also witness significant growth during the forecast period and the growth of this region will be led by China and India. Another reason for the growth of this region is that the lack of modification technology that is used in these drones is sourced from Russia. The African and Middle East region will witness moderate growth due to a lack of adequate infrastructure and skilled labor to operate in this region.


Competitive Landscape


To get a comprehensive and acute idea about the Target Drones Market insights, it is very important to create a competitive environment amongst the different prime players present at different market locations all around the world. All the market players are engaging themselves and competing against each other globally in the international markets by implementing various types of strategies such as product launches and upgrades, mergers and acquisitions, partnerships, etc. The most valuable players of this market are: -



  • ASV GLOBAL (UK)

  • AEROTARGETS INTERNATIONAL, LLC (US)

  • THE BOEING COMPANY (US)

  • QINETIQ GROUP PLC (UK)

  • NORTHROP GRUMMAN CORPORATION (US)

  • SAAB AB (SWEDEN)

  • AIRBUS S.A.S GROUP (FRANCE)

  • LEONARDO S.P.A. (ITALY)

  • LOCKHEED MARTIN CORPORATION (US)

  • BSK DEFENSE S.A. (GREECE)

  • AIR AFFAIRS AUSTRALIA PTY LTD (AUSTRALIA)

  • L3 ASV (UK)

  • BAE SYSTEMS (UK)

  • RAYTHEON (US)

  • GENERAL DYNAMICS CORPORATION (US)

  • ALMAZ-ANTEY (RUSSIA)

  • THALES (FRANCE)

  • EMBENTION (SPAIN)

  • GRIFFON AEROSPACE (US)

  • DENEL DYNAMICS (US)


Recent Developments



  • In December 2018, a contract with a massive grant of USD 45.6 million that builds 15 units of GQM-163A was given to Northrop Grumman by Naval Air Systems Command at Patuxent River Naval Air Station.

  • In May 2019, to provide for 59 unmanned banshee whirlwind systems a contract was signed between QinetiQ and the Indonesian government, and the order of aerial targets and customer training was completed by the company in April 2020.

  • In February 2020, a contract with a massive valuation of USD 50 million was granted to griffon aerospace by the US army. This contract was entered into between the production of MQM-170 outlaw (remotely piloted vehicle target drone) and MQM-171 broadsword (unmanned aerial target drone).

  • In September 2019, a new variant of the banshee Target Drones Market was launched by QinetiQ at the trade show named DSEI held in London in 2019. These new target drones were launched with a twin gas turbine that can reach a speed of over 900km/hr. and that too with half fuel. In addition to that, it has a wide range of 100km.


Intended Audience



  • Drone manufacturers

  • UAV service providers

  • Software developers

  • Component providers

  • Cybersecurity providers

  • IT enterprises

  • System integrators and third-party vendors

  • Government bodies

  • Technology investors 

  • Research institutes and organizations

  • Market research and consulting firms

  • End-users/enterprise-users

  • Managed service providers (MSPs)


Report Overview


The Target Drones Market report represents a drift analysis that talks about market drivers, opportunities, and restraints that are available in the global market. The report also highlights the impact of covid-19 on the prime players of this market. The report also informs the readers about the market segmentation on a different basis and how a competitive environment is developed among the key players around the globe. At last, the report discloses some recent developments in this industry.

Leading companies partner with us for data-driven Insights
client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10
Kindly complete the form below to receive a free sample of this Report
Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Purchase Option
Single User $ 4,950
Multiuser License $ 5,950
Enterprise User $ 7,250
Compare Licenses
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.