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New report: Target Drones market is booming worldwide

Military and Security

Top Key Players in the Target Drones Market include are The Boeing Company, Northrop Grumman Corporation, QinetiQ Group plc, Kratos Defense & Security Solutions, Saab AB and Others.

The Global Target Drones Market is committed fulfilling the requirements of the clients by giving them thorough insights into the market. An exclusive data offered in this report is collected by research and industry experts team.

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The Target Drones Market is projected to grow from US$ 3.79 Billion in 2016 to US$ 6.20 Billion by 2022, at a CAGR of 8.55% from 2016 to 2022.This report spread across 183 Pages, Profiling 12 Companies and Supported with 129 Tables and 73 Figures is now available in this research.

Top Vendors in the Target Drones Market  include are The Boeing Company (U.S.), Northrop Grumman Corporation (U.S.), QinetiQ Group plc (U.K.), Kratos Defense & Security Solutions, Inc. (U.S.), Saab AB (Sweden), Lockheed Martin Corporation (U.S.), Airbus Group (Netherlands), Leonardo S.p.A. (Italy), ASV Global (U.K.), and Aero Targets International, LLC (U.S.).

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Based on Target Type, the sub-scaled segment is estimated to lead the target drones market in 2016.The growth of this segment can be attributed to the increased procurement of sub-scaled aerial target drones by armed forces across the globe because advanced capabilities in simulating the threat scenario at comparatively low-cost.

Based on Fit,the line fit is projected to witness the highest growth from period 2016 to 2022. Owing to limited defense budget allocation in emerging countries, customization of fighter aircraft is not feasible, as most of the emerging countries procure fighter aircraft from the U.S.

and Russia, and cannot afford to convert them into aerial targets. Hence, target drones are majorly line fitted.

“North America is estimated to be the largest market for target drones in 2016”

Based on Region, North America is estimated to be the largest market for target drones in 2016.The U.S. is the only country converting old fighter aircraft into aerial targets to help in simulating real-time threat scenarios for military anti-aircraft and missile testing training exercises.

The U.S. Air Force is planning to convert a total of 126 units of F-16 into QF-16 target drones.The U.S. is a major procurer of sub-scaled aerial targets.

Kratos’ unmanned combat aerial target vehicles business is anticipated double in next two year, based on the contracts awarded to the company by the U.S. Air Force.

Breakdown of primary participants’ profile:

  • By Company Type - Tier 1 – 30%, Tier 2 – 35%, and Tier 3 – 35%
  • By Designation – C Level – 32%, Director Level – 38%, and Others – 30%
  • By Region – North America - 27%, Europe – 18%, Asia-Pacific – 46%, and RoW – 9%

Research Coverage:

This Research report categorizes the target drones market based on engine type (internal combustion engines, jet engines, and others), end user (defense, homeland security, and commercial), fit (linefit and customized fit), platform (aerial targets, ground targets, underwater targets, and sea surface targets), and target type (full scaled, Sub-Scaled, towing, free flying and sub-scaled). These segments and subsegments were mapped across major regions, namely, North America, Europe, Asia-Pacific, MENA and Rest of the World(RoW).

Reason to access this report:

  • Market Penetration: Comprehensive information on target drones offered by top players in the market
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the target drones market
  • Market Development: Comprehensive information about lucrative markets – the report analyzes the target drones market across varied regions
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the target drones market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the target drones market.

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