The target drone market is predicted to grow with a CAGR of roughly 15.7% from 2023 to 2033, reaching a valuation of US$ 10,142.9 Million in 2023 and reaching US$ 43,600.8 Million by 2033. The drone market is anticipated to grow at a 17.6% CAGR, reaching an estimated value of $33.9 billion globally in 2023. 30% of the global drone market is occupied by the target drone market. The market for military drones worldwide is expected to reach US$ 23,052.0 million by the end of 2022.
The current market for targeting drones is one that has seen accelerated growth in recent years. This can be attributed to the increased demand from defense and security agencies, as well as civilian applications such as real estate mapping and filmmaking. Targeting drones are equipped with high-tech sensors capable of accurately pinpointing desired targets at long range, making them invaluable tools for surveillance, reconnaissance and target tracking operations. At present, most of these unmanned aerial vehicles (UAVs) are operated by governments or military forces around the world; however due to their increasing affordability they could soon become commonplace among civilians too.
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Key Companies Profiled
- AeroTargets International LLC.
- Airbus
- China’s military UAV
- Denel Dynamics
- Embention
- Griffon Aerospace
- Kadet Defence Systems
- Kratos Defense & Security Solutions, Inc.
- L3Harris Technologies, Inc
- Leonardo S.p.A.
- MSP
- Northrop Grumman
- QinetiQ
- Sistemas de Control Remoto
- Target Arm Inc.
- UAV Navigation S.L
Competitive Landscape
The target drone technology and other products have been extensively used by numerous countries since the Second World War. Target drones are being used more frequently in the homeland security and defense industries.
Due to technological advancements in target type, platform, payload, speed, and mode of operation, target drones are specifically used in countering cross-border terrorism, combat training for military personnel, smuggling operations, and maritime security.
The designers of these target drones should be the manufacturers’ new area of concentration as they offer them numerous opportunities for business expansion.
- In January 2022, the US Navy awarded a contract worth US$50.9 million to Kratos Defense & Security Solutions Inc. for the purchase of 65 BQM-177A subsonic air targets.
Key Companies Profiled
- AeroTargets International LLC.
- Airbus
- China’s military UAV
- Denel Dynamics
- Embention
- Griffon Aerospace
- Kadet Defence Systems
- Kratos Defense & Security Solutions, Inc.
- L3Harris Technologies, Inc
- Leonardo S.p.A.
- MSP
- Northrop Grumman
- QinetiQ
- Sistemas de Control Remoto
- Target Arm Inc.
- UAV Navigation S.L
What makes Fact.MR report stand out from others?
- Fact.MR follows a six-point mechanism known as E.V.O.L.V.E. (Evaluate. Visualize. Overcome. Leverage. Verify. Eradicate.). The report is specially created to assess the COVID-19 impact on the Target Drone market. This mechanism focuses on almost all the factors in a definite manner to provide the best research report for the market stakeholders.
- Evaluate: A Fact.MR report evaluates every small aspect that can prove to be a growth generator for the Target Drone market, thus, making it different and special from other reports.
- Visualize: The authors involved in the research activities visualized the post-COVID-19 era so that the key stakeholders of market get an overview and helps them take certain steps to ensure continuous growth during the forecast period.
- Overcome: The report scrutinizes on points that can prove to be an Achilles heel to the Target Drone market and assists to create strategies to overcome the obstacles that may hinder the growth of the Target Drone market.
- Leverage: The Target Drone market can leverage certain aspects that can prove beneficial for the increase in growth rate. Fact.MR covers all the points on which the key stakeholders can leverage upon.
- Verify: Research is done systematically to assure validation of all the aspects covered in the report. All the points are rechecked and verified thoroughly to avoid flaws and fake information.
- Eradicate: Last but not the least, this aspect helps the key stakeholder eradicate all the obstacles that come between the growth rate and the Target Drone market.
