Press release
Target Drones Global Market By Application, By Mode Of Operation, By Payload Capacity, By Engine Type, BY Target Type, By Regional Forecast 2023-2032 | Airbus SE, BAE Systems plc, Denel Dynamics, Embention, Griffon Aerospace, Leonardo S.p.A.
Target Drones Market
The Business Research Company's Target Drones Global Market Report 2023 identifies The increase in defense spending is expected to propel the growth of the target drone market going forward. Defense spending refers to the amount of the federal budget earmarked for defense, including funding for military operations, pay, training, and health care, in addition to maintaining and buying weapons, buildings, and equipment. Defense spending is used for procurement and the purchase of military drones, which have been a force multiplier in combat around the world.
The global target drone market size is expected to grow from $4.39 billion in 2022 to $4.77 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The target drone market is expected to reach $6.43 billion in 2027 at a CAGR of 7.8%.
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Major competitors in the Target Drones market are Airbus SE, BAE Systems plc, Denel Dynamics, Embention, Griffon Aerospace, Leonardo S.p.A., Northrop Grumman Corporation, Boeing, AeroTargets International, Air Affairs Australia, Kratos Defense & Security Solutions Inc., General Dynamics Corporation, L3Harris Technologies, Safran S.A., and SCR Drones.
Technological advancement is a key trend gaining popularity in the target drone market. Major players in the target drone sector are focused on technological advancement to sustain their market position. For instance, in February 2022, EDGE, a UAE-based defense and space manufacturing company, introduced swarming drones, unmanned aerial systems (UAS), with advanced artificial intelligence (AI) technology that enables the drones to swarm together in a joint mission.
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The Target Drones Market Is Segmented -
• By Target: Aerial Target, Ground Target, and Marine Target
• By Mode Of Operation: Autonomous, Remotely Piloted
• By Engine Type: Internal Combustion Engine, Jet Engine, Other Engine Types
• By Application: Combat Training, Target And Decoy, Reconnaissance, Target Identification, Target Acquisition
• By End Use: Defense, Commercial
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Target Drones market.
The Business Research Company's "Global Target Drones Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Target Drones Market Include:
1. Executive Summary
2. Target Drones Market Characteristics
3. Target Drones Market Trends And Strategies
4. Target Drones Market - Macro Economic Scenario
5. Target Drones Market Size And Growth
.....
26. Africa Target Drones Market
27. Target Drones Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Target Drones Market
29. Target Drones Market Future Outlook and Potential Analysis
30. Appendix
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