The target drone market is growing as a result of increasing adoption of drones for commercial application, increased emphasis on enhancing military training

VANCOUVER, BRITISH COLUMBIA, CANADA, June 4, 2024 /EINPresswire.com/ -- The global target drone market size was USD 5.2 Billion in 2023 and is expected to register revenue CAGR of 7.6% during the forecast period. The target drone market is set to experience substantial growth due to increasing adoption across commercial sectors, heightened military training needs, rising defense expenditures, and rapid technological advancements. These key factors are driving the market forward, creating new opportunities and expanding the reach of target drone applications.

Commercial Use of Drones Spurs Market Expansion

Drones have become invaluable across a variety of commercial sectors, including construction, delivery services, insurance, and agriculture. This broadening usage is significantly propelling the growth of the target drone market. According to the Federal Aviation Administration, as of August 2023, there were 352,222 registered commercial drones in the United States alone. Additionally, the consulting firm Seed Scientific estimated the value of drone applications across industries at around USD 127 billion, with the drone industry employing approximately 422,000 people as of November 2021.

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Efficient Training Solutions Enhance Military Applications

Target drones are increasingly utilized for threat simulation, providing a cost-effective and efficient solution for military training. The UK Ministry of Defense’s investment of USD 9.37 billion in military aviation equipment and training underscores the importance of these tools. Such investments are aimed at developing adaptable and durable training systems that leverage virtual environments to prepare aircrew for modern combat scenarios.

Artificial Intelligence (AI) Drives Innovation

AI technology integration in target drones marks a significant trend in the market, facilitating the development of advanced, autonomous drones. These AI-enabled drones enhance operational efficiency and versatility, driving market growth. The continued advancement and commercialization of AI and machine learning technologies in drones are expected to further boost the target drone market.

Challenges in Battery Technology

Despite the promising growth, the market faces challenges due to the limitations of current battery technology. Drones powered by lithium-ion batteries typically have a limited flight time of 25 to 30 minutes, which restricts their application in sectors requiring longer operational durations, such as defense, agriculture, logistics, and cartography.

Market Segmentation Insights

Engine Type:

Jet Engine Dominance: The jet engine segment held the largest market share in 2023, driven by its efficiency and performance. These drones are extensively used in military, oil and gas, and agriculture for various applications. The demand for jet engine drones is particularly high in rapidly industrializing countries like China, India, and Brazil.

Platform:

Aerial Target Segment: This segment leads the market, experiencing the fastest growth. Unmanned aerial targets (UATs) play a crucial role in military system development, threat identification training, and weapon testing. For example, Kratos Defence & Security Solutions’ BQM-177A Subsonic Aerial Target (SSAT) exemplifies the advanced capabilities of these drones in mimicking modern airborne threats.

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Target Drone Top Companies and Competitive Landscape

The global target drone market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective target drone.

Some major players included in the global target drone market report are:

Kratos Defense & Security Solutions, Inc.

Aero Targets International, LLC

Northrop Grumman

QinetiQ

Airbus

Boeing

Lockheed Martin Corporation

Leonardo S.p.A.

RTX Corporation

Textron Systems

BAE Systems

Meggitt PLC

Thales

Saab AB

Denel Dynamics

Target Drone Latest Industry Updates

In March 2022, Qinteiq received a contract by the Japan Ground Self-Defense Force to supply Banshee Jet 80+ unmanned aerial vehicle targets. According to the agreement, an undisclosed number of Banshee targets will be delivered by the company while providing logistics support, replacement parts, and other platform-related services.

In December 2021, Kratos Defense & Security Solutions was given a $50 million contract by the Naval Air Systems Command (NAVAIR) for the delivery of 65 BQM-177A subsonic aerial targets (SSATs).

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Target Drone Market Segment Analysis

For the purpose of this report, Emergen Research has segmented global target drone market on the basis of mode of operation, platform, engine type, target type, application, build, type, payload capacity, speed, fit, end-use and region:

Mode of Operation Outlook (Revenue, USD Billion; 2020-2033)

Autonomous

Remotely Piloted

Optionally Piloted

Platform Outlook (Revenue, USD Billion; 2020-2033)

Underwater Target

Sea Surface Target

Ground Target

Aerial Target

Engine Type Outlook (Revenue, USD Billion; 2020-2033)

Internal Combustion Engine

Jet Engine

Others

Target Type Outlook (Revenue, USD Billion; 2020-2033)

Full-Scale

Sub-Scale

Free-Flying

Towing

Sporting

Application Outlook (Revenue, USD Billion; 2020-2033)

Combat Training

Target & Decoy

Reconnaissance

Target Identification

Target Acquisition

Build Outlook (Revenue, USD Billion; 2020-2033)

New Build

Converted

Type Outlook (Revenue, USD Billion; 2020-2033)

Fixed Wing

Rotary Wing

Payload Capacity Outlook (Revenue, USD Billion; 2020-2033)

High (>40 Kg)

Medium (20Kg to 40Kg)

Low (<20Kg)

Speed Outlook (Revenue, USD Billion; 2020-2033)

Less than 100 M/S

More than 100 M/S

Fit Outlook (Revenue, USD Billion; 2020-2033)

Customized Fit

Line Fit

End-Use Outlook (Revenue, USD Billion; 2020-2033)

Commercial

Homeland Security

Defense

Air

Navy

Land

Regional Outlook (Revenue, USD Billion; 2020-2033)

North America

U.S.

Canada

Europe

Germany

France

U.K.

Italy

Spain

Benelux

Russia

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

ASEAN Countries

Oceania

Rest of APAC

Latin America

Brazil

Mexico

Rest of LATAM

Middle East & Africa

GCC Countries

Israel

Turkey

South Africa

Rest of MEA

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