Target Drone Market is Projected to Reach USD 7.69 billion by 2031 | Lockheed Martin Corporation, HELLA GmbH & Co. KGaA, Northrop Grumman Corporation, The Boeing Company, Airbus SE

Target Drone Market reached US$ 4.47 billion in 2023 and is expected to reach US$ 7.69 billion by 2031, growing at a CAGR of 7.02% during the forecast period 2024-2031.

Target Drone Market analysis, according to DataM Intelligence, offers more than just an overview, it investigates the underlying aspects of the sector. The study provides an overview, the research explores the hidden aspects of the sector, breaking down its intricate dynamics, charting regional dominance, spotting demand patterns, and spotting prospective breakthroughs that could influence how businesses operate in the future.

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The Target Drone market report majorly focuses on market trends, historical growth rates, technologies, and the changing investment structure. Additionally, the report shows the latest market insights, increasing growth opportunities, business strategies, and growth plans adopted by major players. Moreover, it contains an analysis of current market dynamics, future developments, and Porter's Five Forces Analysis.

A target drone is a type of unmanned aerial vehicle (UAV) used primarily for testing and training purposes. These drones are designed to simulate a real-world target or enemy aircraft in various defense-related scenarios, such as missile or aircraft targeting exercises. Target drones can be remotely controlled or pre-programmed to fly specific patterns and behaviors, allowing military forces to practice tracking, targeting, and engaging them with weapons systems.

Forecast Growth Projected:

The Global Target Drone Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

List of the Key Players in the Target Drone Market:

Lockheed Martin Corporation, HELLA GmbH & Co. KGaA, Northrop Grumman Corporation, The Boeing Company, Airbus SE, Leonardo S.p.A. Safran Electronics & Defense, QinetiQ Group plc, Griffon Aerospace and Kratos Defense & Security Solutions, Inc.

Segment Covered in the Target Drone Market:

♦ By Type (Fixed Wing, Rotary Wing)
♦ By Propulsion (Electric Propulsion, Fuel Propulsion, Hybrid Propulsion)
♦ By Platform (Aerial, Ground, Marine)
♦ By Payload (Less than 10 Kg, 10-30 kg, More than 30 Kg)
♦ By Operation Mode (Remotely Controlled, Autonomous)
♦ By Application (Training, Target and Decoy, Reconnaissance, Others)

Key Developments:

➠ In August 2023, the Australian Department of Defence selected Lockheed Martin Corporation as its strategic partner to oversee AIR6500 Phase 1 (AIR6500-1), a project that will integrate advanced air and missile defense capabilities. This partnership reflects the growing demand for unmanned systems and target drones in defense applications, highlighting how these technologies are becoming crucial to military preparedness and battlefield management.

➠ In February 2023, Northrop Grumman secured a contract from the U.S. Marine Corps to develop the Next Generation Handheld Targeting System (NGHTS), showcasing the need for precision in target identification and engagement. This is part of a broader trend where armed forces seek to enhance their capabilities in GPS-denied environments, making target drones indispensable in testing and training scenarios.

➠ In July 2023, Airbus was awarded a contract by the Canadian government to deliver aircraft that could also serve in continental defense missions, signaling a broader interest in integrating unmanned systems into national security strategies.

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Regional Break out:

The global Target Drone Market report focuses on six major regions: North America, South America, Europe, Asia Pacific, the Middle East, and Africa.

☞ North America - US, Canada, Mexico
☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe
☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific
☞ South America- Brazil, Argentina, Colombia, Rest of South America
☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel

Chapter Outline:

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 2: key insights, key emerging trends, etc.

Chapter 3: Manufacturers competitive analysis, detailed analysis of Target Drone manufacturers competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.

Chapter 5 & 6: Revenue of Target Drone in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 10: The main points and conclusions of the report.

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Frequently asked questions:

➠ What is the global sales value, production value, consumption value, import and export of Target Drone market?

➠ Who are the global key manufacturers of the Target Drone Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?

➠ What are the Target Drone market opportunities and threats faced by the vendors in the global Target Drone Industry?

➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?

➠ What focused approach and constraints are holding the Target Drone market?

➠ What are the different sales, marketing, and distribution channels in the global industry?

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