Global Target Drone Market was valued at USD 4.2 billion in 2019 which is expected to reach USD 6.5 billion by 2027 at a CAGR 7.8%.
Target drones are the remote controlled unmanned aerial vehicles (UAVs), which are used for training individuals in anti-aircraft crew. They are used in various industries including homeland security, commercial, and defense. Target drones are used as arial target, sea target, underwater target and ground target.
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Rise in defense budget in developing countries is the key driving factor which is expected to boost the global target drone market growth. Further, increase in importance of military training will have the growth of global target drone market during this forecast period. Also, increase in demand of target drones over manned target vehicles may fuel the growth of global target drone market. Moreover, increase in demand for target drones for homeland security applications which is expected to drive the global target drone market growth.
However, lack of sustainable power sources to improve endurance of drones is the major restraining factor which is expected to hamper the global target drone market growth. Also, lack of skilled professionals will affect the global target drone market growth.
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Market Key Players
Various key players are discussed in this report such as Saab Ab, Air Affairs Australia Pty Ltd, Bsk Defense S.A, Leonardo S.P.A., Lockheed Martin Corporation Airbus Group, Kratos Defense & Security Solutions, Inc, Northrop Grumman Corporation, and Qinetiq Group Plc.
By Target Type
By End User
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