Target Drone Market to Reach 5.8 Billion USD by 2021 - IndustryARC Research

30 Jun, 2016, 11:00 ET from IndustryARC

HYDERABAD, India and MINNEPOLIS, June 30, 2016 /PRNewswire/ --

According to the market research report "Target Drone Market - By Specification (Size, Speed, Payload, Autonomy, Reach, Others), By Engine Type (Piston, Wankel, Turboprop, Turbojet, Others), By Application (Target and Decoy, Training, Reconnaissance, Others) - Forecast (2016 - 2021), published by IndustryARC, the target drone market is estimated to reach $5.8 Billion by 2021 at a high CAGR.

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Browse - Around 15 Market Tables, 62 Figures spread through 160 Pages and an in-depth TOC on "Target Drone Market (2015 - 2021)"

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Target Drone is an unmanned aerial vehicle that is generally remote controlled and is used in the training of ant-aircraft crews. Target drones often resemble radio controlled model aircraft and are used not only for training pilots with live weapons but are also utilized by military for surveillance. Target drones have high revenues in Americas and Europe currently and are forecasted to show high growth in APAC. The key drivers for such growth can be attributed to insufficient inventory among the military of developed nations that has forced them to increase their defense budget spending on aerial targets specifically.

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Target drones use different types of engines such as piston, wankel, turboprop and turbojet. Piston Engine is a reciprocating engine also known as internal combustion engines. In this type of engines the fuel mixture is burned along within the engine. Aircraft piston engines are typically designed to run on aviation gasoline which has a high octane rating compared to other automotive gasoline. These high octane ratings allows for the use of higher compression ratios, increasing power output and improves efficiencies at higher altitudes. Components of piston engine include cylinders, pistons, connecting rods, crank shafts, valves and others. The demand for piston engines is due to their use in the most advanced rotary technology and premium materials which can result in creating industry leading target drones which are best in performance, light weight, reliable and efficient.

The target drones market has better opportunities currently as 3D Printing and Solar Energy proliferate the UAV market across the globe. Also, the developing nations such as China, India and few others are keen on developing indigenous air based defense equipment to reduce their import spending on defense. Although, Target Drones have also been developed locally but changing warfare tactics along with development in advanced military technology, a certain demand either for product or required support will prove to be a notable factor for boosting the demand for Target Drones in these countries.

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Americas is the Dominating Market, which held a major revenue share in 2015 mainly driven by investments in Special Forces, UAVs and fighter aircraft able to carry ground attacks. The U.S. Department of Defense (DoD) had a budget of nearly $6.7 Million in 2013 for target Systems Development, while for Target Drones it was amounted to $109.5 million in 2013. In 2015, the Target Drones spending was $98.5 million, which is projected to reach $160.4 million by 2019 while for Target Systems Development; it will escalate from $3.8 million in 2015 to $4.9 million by 2019. APAC attributed the fastest growth rate resulting from developing nations such as China and India.

The Major Players in Target Drone Market Include: 

  • Boeing (U.S.),
  • Lockheed Martin (U.S.)
  • Northrop Grumman (U.S.)
  • Meggitt (U.K.)

Target drone providers are continuously investing in developing and launching of new products with consistent requirements for different applications such as testing & calibrations, training and to provide solutions for growing requirements such as need to replicate high density, multi-axis attacks and others. The top four players accounted for approximately 72% of the total market in 2015.

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Various Types of Engines included in the Market Study are: 

  • Piston engine
  • Wankel engine
  • Turboprop
  • Turbojet
  • Others

The Target Drones Market has also been analyzed by their End-use Applications such as:

  • Target & Decoy
  • Testing & Calibration
  • Training
  • Reconnaissance
  • Tracking & Monitoring
  • Research & Development of Weapons

The Report provides detailed analysis of the different engine types, applications and geographic regions.

Segmentation based on Geography: 

  • Americas - U.S., Canada, Brazil, Chile & Others
  • Africa - Egypt, Algeria, Ethiopia, South Africa & Others
  • Europe - U.K., France, Germany, Italy & Others
  • APAC - China, Japan, South Korea, India, Australia & Others
  • Rest of the World

About IndustryARC: 

IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Aerospace & Defense, Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.

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