Target Drones Market

Target Drones Market was valued at USD 4.6 billion in 2022 and is forecast to touch USD 7.6 billion in 2030, and the market is expected to grow at a CAGR of 6.5%.

To have an edge over the competition by knowing the market dynamics and current trends of “Target Drones Market,” request for Sample Report here

Market Dynamic

Key Drivers and Emerging Trends

The factors that are proliferating the growth of the global target drones market include the increasing demand for such drones for homeland security & several other applications, and the rising aim on realistic training owing to the increasing cases of cross-border conflicts. In addition to this, an increase in the defense budgets of several countries like the US and Germany is a key factor that is further surging the demand for target drones in the market during the forecast period. For instance, according to the Stockholm International Peace Research Institute, the United States was the largest defense spender in 2019 with USD 732 billion and represented 38% of the global military spending. The military spending in Europe increased by 5%, in Asia & Oceania by 4.8%, Africa by 1.5%, and the Americas by 4.7%.

Moreover, the rising conversion of jet fighters and other such vehicles into target drones, along with the increasing product launches of such drones in the market, are some other factors that are creating various growth opportunities for the target drones in the upcoming years. In 2017, Boeing announced the plan to convert 18 retired F-16 jet fighters into unmanned target drones so as to use them for advanced pilot training.

Restraint in the Target Drones Market

The factors which are responsible for restraining the growth of the global target drones market include the shortage of trained or skilled professionals for operating the target drones.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Platform – Segment Analysis

Based on the platform, the aerial target segment is estimated to increase at a higher CAGR over the forecast period. The factors bolstering the growth of the market in this segment include the rising adoption of aerial target drones in military training and various other application areas and the growing development of such types of drones by the companies in the market. In 2018, Kratos Defense & Security Solutions Inc. delivered the first of the 45 BQM-177A year one subsonic aerial target systems for the Navy. These target systems were being delivered under a USD 37 million first year low-rate initial production contract for the aircraft required to mimic the cruise missile targets.

End-Users – Segment Analysis

On the basis of the end-users, the defense segment is expected to grow at a higher CAGR during the forecast period. The growing demand for target drones in the military and defense sector for the purpose of anti-submarine, anti-missile, and other such training purposes is a key factor that is accelerating the demand for such drones in this segment. Moreover, the rising procurement of defense equipment by the US and European countries is leading to the demand for efficient solutions to achieve the military missions which is another major factor that is fuelling the market growth.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Regional – Segment Analysis

Based on the region, the North America region is anticipated to increase at a higher CAGR over the forecast period. The factors that are propelling the growth of the target drones market in this region include the growing adoption of such drones owing to the rising investment in the training programs in countries like the United States. In addition to this, the increasing number of contracts for the procurement of target drones is another major factor that is augmenting the market growth in the upcoming years. For instance, in 2020, Griffon Aerospace got a two-year contract of value USD 49.9 million to deliver unmanned aircraft system targets and associated support services to the US Army. It will provide MQM-171 Broadsword and MQM-170 Outlaw UAS targets for the targets management office of the service branch and other customers from the Department of Defense.

Top Market Players

Various notable players operating in the market include QinetiQ, Boeing, Kratos Defense & Security Solutions, Inc., Northrop Grumman, Lockheed Martin Corporation, Leonardo S.p.A., Saab AB, Air Affairs Australia, AeroTargets International LLC., and Airbus S.A.S., among others.

Key Developments: 

• • In 2020, Kratos Defense & Security Solutions, Inc. got a contract to deliver 21 high-performance jet target drones, and the contract is more than worth USD 19 million. The high performance, jet-powered, unmanned aerial target drones are developed for application in weapon systems testing and soldier training.
  • In 2019, QinetiQ launched the next-generation Banshee NG, a target that has the ability to imitate the fast-flying missiles and jets, enabling evaluation & test and live-fire training exercises. This target drone can travel at a faster speed of greater than 250m/s, flies to higher altitudes up to 12,000 meters, and provides increased maneuverability, and is also less detectable owing to a low radar cross-section.

Segments Covered in the Report:

The global target drones market has been segmented on the basis of type, platform, end-users, target type, engine, build, and regions. Based on the type, the market is segmented into the rotary wing and fixed wing. Based on the platform, the market is segmented into ground targets, aerial targets, and marine targets. Based on the end-users, the market is segmented into defense and commercial. Based on the target type, the market is segmented into subscale targets, full-scale targets, free-flying targets, towing targets, and sporting targets. Based on the engine, the market is segmented into the internal combustion engine, jet engine, and others. Based on the build, the market is segmented into converted and newbuild. 

For detailed scope of the “Target Drones Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is the global target drones market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the target drones market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global target drones market?
  • Which type generated maximum revenues in 2021 and identify the most promising type during the forecast period?
  • What are the various end-users of the global target drones market, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2022)	USD 4.6 billion
Market  Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Type, By Platform, By End-Users, By Target Type, By Engine, By Build, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	QinetiQ, Boeing, Kratos Defense & Security Solutions, Inc., Northrop Grumman, Lockheed Martin Corporation, Leonardo S.p.A., Saab AB, Air Affairs Australia, AeroTargets International LLC., and Airbus S.A.S., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Target Drones Market by Type

• • Rotary Wing
  • Fixed Wing

Global Target Drones Market by Platform

• • Ground Targets
  • Aerial Targets
  • Marine Targets

Global Target Drones Market by End-Users

• • Defense
  • Commercial

Global Target Drones Market by Target Type

• • Subscale Targets
  • Full-Scale Targets
  • Free-Flying Targets
  • Towing Targets
  • Sporting Targets

Global Target Drones Market by Engine

• • Internal Combustion Engine
  • Jet Engine
  • Others

Global Target Drones Market by Build

• • Converted
  • Newbuild

Global Target Drones Market by Region

• • North America Target Drones Market (Option 1: As a part of the free 25% customization)
    • By Type
    • By Platform
    • By End-Users
    • By Target Type
    • By Engine
    • By Build
    • US Market All-Up
    • Canada Market All-Up
  • Europe Target Drones Market (Option 2: As a part of the free 25% customization)
    • By Type
    • By Platform
    • By End-Users
    • By Target Type
    • By Engine
    • By Build
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Target Drones Market (Option 3: As a part of the free 25% customization)
    • By Type
    • By Platform
    • By End-Users
    • By Target Type
    • By Engine
    • By Build
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Target Drones Market (Option 4: As a part of the free 25% customization)
    • By Type
    • By Platform
    • By End-Users
    • By Target Type
    • By Engine
    • By Build
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Target Drones Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • QinetiQ
  • Boeing
  • Kratos Defense & Security Solutions, Inc.
  • Northrop Grumman
  • Lockheed Martin Corporation
  • Leonardo S.p.A.
  • Saab AB
  • Air Affairs Australia
  • AeroTargets International LLC.
  • Airbus S.A.S.