The global target drone market is projected to reach $10,433.9 million by 2031, revealing the premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of 8.77% during the forecast period 2021-2031.
Target drones are used for testing and development purposes, especially for military applications. These drones also help in case of combat training and destruction tests to simulate the behavior of real threats. The study by BIS Research highlights the latest trend in the target drones industry, including completely autonomous systems and hypersonic target drones. The target drones are used as a cost-effective alternative to the vehicles and systems used by the military forces of numerous countries.
The detailed study is a compilation of 72 Market Data Tables and 28xx Figures spread through 150 Pages and an in-depth TOC on "Global Target Drone Market – Analysis and Forecast, 2021-2031”
Analyst’s take on the market
According to Haidar Ali, Lead Analyst, BIS Research, “The market potential of the target drones for aerial, marine, and ground platforms is expected to reach new heights due to the advancements in the field of unmanned systems and deceiving technologies that can mimic the characteristics of real threats. The target drone market is going to evolve parallelly with the combat vehicles to mimic their ability. This helps in understanding and developing tactics and strategies to neutralize the threat. Hence, the market is going to grow significantly during the forecast period.”
Key companies operating in the market
Some of the original equipment manufacturers operating in the market include Airbus S.A.S., Boeing, Leonardo S.p.A., Lockheed Martin Corporation, Northrop Grumman, AeroTargets International LLC, Air Affairs Australia, Denel SOC Ltd, Defence Research and Development Organisation (DRDO), Griffon Aerospace, Kadet Defence Systems, Kratos Defense & Security Solutions, Inc., QinetiQ, SCR, and Sistemas de Control Remoto, among others.
In addition, there are certain component providers operating in the market, including BAE Systems, General Dynamics Corporation, Raytheon Technologies Corporation, Robonic Ltd Oy, Meggitt Defense Systems, and Safran.
How can market intelligence on target drone add value to your organization’s decision-making process?
• Product/Innovation Strategy: The product segment helps the readers in understanding the different types of target drones and their market potential globally. Moreover, the study provides the readers a detailed understanding of target drones with respect to speed and target type. Additionally, comprehensive coverage of payloads (qualitative data only) used by target drones for various applications has also been added in the study.
• Growth/Marketing Strategy: Players operating in the global target drone market are developing innovative products to enhance the capabilities of their product offerings. Growth/marketing strategies will help the readers in understanding the revenue-generating strategies adopted by the players operating in the global target drone market. Moreover, other strategies adopted by the market players will help the readers in making strategic decisions, such as go-to-market strategies.
• Competitive Strategy: Players analyzed and profiled in the study involve original equipment manufacturers (OEMs) and component providers that capture a maximum share in the global target drone market. Moreover, a detailed competitive benchmarking of the players operating in the global target drone market has been done that will help the readers to understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the readers in understanding the untapped revenue pockets in the market.
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Market Segmentation of Target Drone Market
• Application: The application segment of the market is further categorized into combat training, target and decoy, target identification, target acquisition, and others. The combat training application is expected to be the front runner in the global target drone market.
• Platform: The platform segment of the target drone market is categorized into aerial, marine, and ground targets. Wherein, aerial targets are estimated to dominate the global target drone market due to their unique ability to mimic and simulate actual threats with the help of various payloads.
• End User: The end-user market in target drone is segmented based on military, homeland security, and defense companies. The military end-user segment consisting of the army, navy, and air force is expected to dominate the global target drone market.
• Region: The data of major regions covered under the target drone market includes North America, Europe, Asia-Pacific, and Rest-of-the-World. North America is expected to account for the highest share of the global target drone market, owing to a significant number of companies based in the region.
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Key Questions Answered:
• What are the futuristic trends in this market, and how is the market expected to change over the forecast years 2021-2031?
• What are the key drivers and challenges faced by the companies that are currently working in the global target drone market?
• How is the market expected to grow during the forecast period 2021-2031?
• What are the opportunities for the companies to expand their businesses in the global target drone market?
• Which region is expected to be leading the global target drone market by 2031?
• What are the key developmental strategies implemented by the key players to sustain in this highly competitive market?
• What is the current and future revenue scenario of this market?
• What is the competitive scenario of the key players in the global target drone market?
• What are the emerging technologies that the key companies are focusing on to increase their market share?
• What are the strengths and weaknesses of the companies that are influencing the growth of the market?
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• Global Ground Defense System Market - https://bisresearch.com/industry-report/ground-defense-system-market.html
About BIS Research:
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