Target Drone Market 2024 Trends, Analysis, Growth, Opportunities, Forecast to 2031

The global target drone market is anticipated to grow at a CAGR of 7.1% during the forecast period. The growing investment in the acquisition of target drones is a key factor driving the growth of the global target drone market. For instance, in February 2020, Kratos Defense & Security Solutions, Inc. received a $20 million contract award from an international customer for high-performance, unmanned aerial target drone system aircraft and related services. The procurement includes aerial target drones, spares and consumables, a ground control station (GCS), ground support equipment, launching systems, and payloads. In addition to the hardware to be provided, KUSD will deliver services that include testing, technical training, in-country establishment, and technical assistance.

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In February 2020, the company received another approximately $14 million in contract awards for logistics support, spares, consumables, and support needed to address the growing demand for Kratos’ customer drone system operations. In November 2021, The US Air Force has awarded Boeing a $49.7 million contract to convert retired F-16 fighters into unmanned aerial target vehicles. Fifteen F-16 Block 25 and Block 30s will be converted into QF-16 full-scale aerial targets under the contract awarded. 

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Market Coverage

• Segment Covered- 

o             By Target

o             By Mode of Operation

o             By End-User

• Regions Covered-

o             North America

o             Europe

o             Asia-Pacific

o             Rest of the World

• Competitive Landscape- QinetiQ Group plc, Kratos Defense & Security Solutions, Inc., Airbus Group, Northrop Grumman Corp., and Boeing Co.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?

o             Deviation from the pre-COVID-19 forecast

o             Most affected region and segment

• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Target Drone Market Report by Segment

By Target

• Aerial Target
• Ground Target
• Marine Target

By Mode of Operation 

• Autonomous Target Drone
• Remotely Operated Target Drone

By End-User

• Defense 
• Commercial

Global Target Drone Market Report by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe 

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific 

Rest of the World

• Latin America 
• Middle East & Africa

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1. We cover more than 15 major industries, further segmented into more than 90 sectors.
2. More than 120 countries are for analysis.
3. Over 100+ paid data sources mined for investigation.
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Article source: https://article-realm.com/article/Business/70912-Target-Drone-Market-2024-Trends-Analysis-Growth-Opportunities-Forecast-to-2031.html