A recent report published by Infinium Global Research on the target
drone market provides an in-depth analysis of segments and sub-segments in the
global as well as regional target drone market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
target drone market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecasts, and dollar values of the global
target drone market. According to the report, the global target drone market is
projected to grow at a CAGR of 6.9% over the forecast period of 2020-2026.
Market Insight
A target drone is a remote-controlled unmanned aerial vehicle used in the training of anti-aircraft
squads. The current concerns over the spread of coronavirus are expected to
have a depressing impact on the target drone market. As countries across
the world are taking action for containing and mitigating the spread of Coronavirus
and are allocating budget funds to ensure a comprehensive response.
This increase in public funding will reduce the spending in sectors such as
defense by considering the financial havoc wrecked by the COVID-19 pandemic. The
consumption of equipment used in armed forces will also reduce considerably,
which in turn will have a negative impact on the sales of target drones in the
short term. However, it will progressively rise over the long term as these
systems play an important role in aerospace and defense applications.
The increasing advantage of target drone over manned aircraft
drives the growth of the global target drone market during the forecast period.
Target drones help in various defense-related tasks due to their tremendous
endurance capabilities. The use of target drones is growing rapidly in target
and decoy, reconnaissance, surveillance, combat training, and target
acquisition for safety reasons is augmenting the growth of the market. Moreover,
the increased funding for the military training program, increasing instances
of maritime piracy, along with high research and development investment also
attributed to market growth. Besides this, the growth in the defense budget
especially in developing economies is likely to have a positive impact on the
global target drone market. For instance, in 2019, China's military expenditure
is expected to reach $261 billion and India's military spending is anticipated
to reach at $71.1 billion. However, Lack of skilled professionals may hamper
the growth of the global target drone market. Furthermore, product innovation
is one of the major strategies adopted by several players creates greater
growth opportunities for the market in the coming years.
Among the geographies, the global target drone market segmented
into North America, Europe, Asia Pacific, and RoW. North America dominates the
global target drone market in the forecast period due to its high investment
for defense training programs and the presence of well-established players in this
region. The high defense budget is another major factor boosting the growth of
North America's target drone market. The United States spent about $718.69
billion on its military in 2019. On the other hand, Asia Pacific is accounted
to grow at the highest CAGR throughout the forecast period due to the
developing economies such as China, India, and Japan. The growth of this region
is attributed due to the increasing spending on defense systems. Moreover,
there are several manufacturers of target drones are based in China. The Middle
East and Africa and Latin America are expected to grow at a steady rate in the
forecast period.

Segment Covered
The report on the global target drone market covers segments such as
platform, end user, and application. On the basis of the platform, the sub-markets
include an aerial target, ground target, underwater target, and sea surface
target. On the basis of end user, the sub-markets include defense, commercial,
and homeland security. On the basis of application, the sub-markets include
target and decoy, reconnaissance, surveillance, combat training, and target
acquisition.
Companies Profiled:
The report provides profiles of the companies in the market such
as Lockheed Martin Corporation, Leonardo S.p.A., Airbus SE, Saab AB, Northrop
Grumman Corporation, Kratos Defense & Security Solutions, Inc, Qinetiq, The
Boeing Company, AeroTargets International, LLC, and ASV Global.
Report Highlights:
The report provides deep insights into the demand forecasts, market
trends, and micro and macro indicators. In addition, this report provides
insights into the factors that are driving and restraining the growth in this
market. Moreover, The IGR-Growth Matrix analysis given in the report brings an
insight into the investment areas that existing or new market players can
consider. The report provides insights into the market using analytical tools
such as Porter's five forces analysis and DRO analysis of the target drone market.
Moreover, the study highlights current market trends and provides forecast from
2020-2026. We also have highlighted future trends in the market that will
affect the demand during the forecast period. Moreover, the competitive
analysis given in each regional market brings an insight into the market share
of the leading players.