Insights on the Target Drone Global Market to 2031 - Increasing Adoption of Unmanned Systems for Military Operations is Driving Growth

DUBLIN, June 16, 2021 /PRNewswire/ -- The "Target Drone Market - A Global and Regional Analysis: Focus on End-User, Application, Platform, Mode of Operation, Speed, Target Type, Payload, and Country - Analysis and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

The target drone technology and products have been used widely by various countries since the second world war. The technological advancements in terms of payload, platform, target type, speed, and mode of operation are driving use for target drones in defense and homeland security sectors in areas including combat training for military personnel, countering cross-border terrorism, smuggling activities, and maritime security.

The global target drone market is estimated to reach $10,433.9 million in 2031, at a compound annual growth rate (CAGR) of 8.77% during the forecast period 2021-2031. The major driving factor for robust of the market will be because of increasing defense budgets by major countries for military modernization and strengthening national security activities.

Key Companies Profiled

AeroTargets International LLC, Air Affairs Australia, Airbus S.A.S., Boeing, Denel SOC Ltd., Defence Research and Development Organization (DRDO), Griffon Aerospace, Kadet Defence Systems, Kratos Defense & Security Solutions, Inc., Leonardo S.p.A., Lockheed Martin Corporation, Northrop Grumman, QinetiQ, Robonic Ltd Oy, SCR, Sistemas de Control Remoto

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. For instance, in December 2020, the U.S. Navy awarded a $57 million contract to Northrop Grumman Corporation to manufacture Coyote supersonic targets. The contract could be worth $250 million for an additional 84 target vehicles in the coming years. Moreover, other strategies adopted by the market players will help the reader 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 maximum share in the global target drone market. Moreover, a detailed competitive benchmarking of the players operating in global target drone has been done that will help the reader 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 reader in understanding the untapped revenue pockets in the market.

Key questions answered in the Target Drone Market Report

• 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?

Impact of COVID-19 on Target Drone Technology Market

The COVID-19 pandemic has restricted the growth of the market as the companies have lowered their research and development funding to develop innovative solutions. The key players in the U.S. and Europe were affected the most during the first wave of the COVID-19 and had to impose strict lockdowns to ensure the safety of their employees. This has affected the manufacturing and development of the target drones. However, with the vaccination process being implemented, the market is expected to grow gradually.

Key Market Players and Competition Synopsis

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, 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.

Key Topics Covered:

1 Markets
1.1 Industry Outlook
1.1.1 Global Target Drone Market: Overview
1.2 Leading Manufacturers, Products, and Technical Specifications
1.3 Current and Emerging Technological Trends
1.3.1 Hypersonic Propulsion for Target Drones
1.3.2 Fuel Cell Technology
1.3.3 Hybrid Propulsion
1.3.4 AI-Enabled Control System
1.3.5 Internet of Things (IoT) Battlefield
1.4 Target Drone Contract Analysis, 2018 - 2020
1.5 Patent Analysis
1.5.1 Patent Analysis (by Status)
1.6 Supply Chain Analysis
1.7 Business Dynamics
1.7.1 Business Drivers
1.7.1.1 Increasing Adoption of Unmanned Systems for Military Operations
1.7.1.2 Advancements in Military Training to Simulate Real Combat Scenario
1.7.2 Business Challenges
1.7.2.1 Lack of Skilled Workforce
1.7.2.2 Short Endurance of Target Drones
1.7.3 Business Opportunities
1.7.3.1 Growing Defense Budgets of Major Economies
1.7.3.2 Rising Deployment of Defense Systems in Emerging Countries
1.8 Business Strategies
1.8.1.1 Partnerships and Contracts
1.8.1.2 Product Development and Innovation
1.8.1.3 Others

2 Application
2.1 Global Target Drone Market (by Application)
2.1.1 Overview
2.1.2 Global Target Drone Market (by End User)
2.1.2.1 Military
2.1.2.2 Homeland Security
2.1.2.3 Defense Companies
2.1.2.4 Demand Analysis of Global Target Drone Market (by End User)
2.1.3 Global Target Drone Market (by Application)
2.1.3.1 Combat Training
2.1.3.2 Target and Decoy
2.1.3.3 Target Identification
2.1.3.4 Target Acquisition
2.1.3.5 Others
2.1.3.6 Demand Analysis of Global Target Drone Market (by Application)

3 Product
3.1 Global Target Drone Market (by Product)
3.1.1 Overview
3.1.2 Global Target Drone Market (by Platform)
3.1.2.1 Aerial Targets
3.1.2.2 Marine Targets
3.1.2.3 Ground Targets
3.1.2.4 Demand Analysis for Global Target Drone Market (by Platform)
3.1.3 Global Target Drone Market (by Mode of Operation)
3.1.3.1 Remotely Piloted
3.1.3.2 Optionally Piloted
3.1.3.3 Autonomous Operation
3.1.3.4 Demand Analysis for Global Target Drone Market (by Mode of Operation)
3.1.4 Global Target Drone Market (by Speed of Aerial Target Drones)
3.1.4.1 Subsonic (<_8 />3.1.4.2 Transonic (0.8-1.2 Mach)
3.1.4.3 Supersonic (1.2-5.0 Mach)
3.1.4.4 Hypersonic (> 5.0 Mach)
3.1.4.5 Demand Analysis for Global Target Drone Market (by Speed of Aerial Target Drone)
3.1.5 Global Target Drone Market (by Target Type)
3.1.5.1 Full Scale
3.1.5.2 Sub-Scaled
3.1.5.3 Towing
3.1.5.4 Demand Analysis for Global Target Drone Market (by Target Type)
3.1.6 Global Target Drone Market (by Payload) *
3.1.6.1 Flares
3.1.6.2 Passive and Active Radar Augmentation Devices
3.1.6.3 Infrared Augmentation Devices
3.1.6.4 Electronic Payloads
3.1.6.5 Others

4 Region

5 Markets - Competitive Benchmarking & Company Profiles

6 Research Methodology

For more information about this report visit https://www.researchandmarkets.com/r/qrfnae

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