The global target drone analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2017-2018 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
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The global target drone market is driven by various factors such as rapid innovationtechnology, and growing investment in R&D by various developing countries. Moreover, increasing emphasis on military training and growing demand for target drone over manned target are major factors fueling the growth of the global target drone market. For instance, the military expenditure by the United States specifically on military training increased from $466.76 billion in 2000 to $718.69 billion in 2019. However, lack of skilled personnel is a major factor hampering the growth of this global market during the forecast period.
The global target drone market is segmented on the basis of engine type, platform, application, and region.
By engine type, the global target drone market is sub-segmented into:
By platform, the global target drone market is sub-segmented into:
By application, the global target drone market is sub-segmented into:
By geographical region, the global target drone market is studied among North America (US, Canada, Mexico), Europe (Germany, France, Italy, Spain, UK, rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, rest of Asia-Pacific) and LAMEA (Brazil, Saudi Arabia, South Africa, rest of LAMEA). Among which, North America is expected to lead target drone market during the forecast period. On the other hand, Asia-Pacific is expected to exhibit highest CAGR during the forecast period. This is attributed to growing procurement of state-of-the-art equipment for the military training programs, and increase in demand for target drone in this region.
Market players included in the research study of the global target drone market are Qinetiq Group Plc, Kratos Defense & Security Solutions, Inc., Lockheed Martin Corporation, Bsk Defense S.A., The Boeing Company, Northrop Grumman Corporation, Airbus Group, Leonardo S.P.A., Air Affairs Australia Pty Ltd., and Saab AB.
Recent Developments in the Global Target Drone Market
In May 2020, Kratos Defense & Security Solutions, Inc. updated satellite ground system for Air force satellite control network for $4.9 million.
In February 2020, Griffon Aerospace supplied MQM-171, a broadsword unmanned aerial target and MQM-170, an outlaw remotely piloted vehicle target for $50 million to US Army.
In 2019, Northrop Grumman Corporation unveiled that Saturn Satellite Networks has selected the OmegA vehicle for space launch of two satellite on the rocket’s inaugural flight on spring 2021.
In December 2018, Naval Air Systems announced at Patuxent River Naval Air Station an investment of $46.5 million contract to Northrop Grumman to build 15 units of GQM-163A.
In September 2019, QinetiQ announced a new variant of its Banshee target drone at the DSEI 2019 trade show in London.
In May 2019, QinetiQ announced to provide 59 unmanned Banshee Whirlwind systems to Indonesian government by April 2020.
In June 2019, Airbus launched the A321XLR, the longest-range single-aisle airline with 30% lower fuel burn per seat capacity as compared to previous-generation aircraft
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