Target Drones Market value $6.3 billion by 2025 — Exclusive Report by MarketsandMarkets™

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Target Drones Market value 6.3 billion by 2025
Exclusive Report by MarketsandMarkets According
to the new market research report the Target
Drones Market is estimated at USD 4.4 billion in
2020 and is projected to reach USD 6.3 billion by
2025, at a CAGR of 7.6 from 2020 to 2025.
Increasing RD investment and better funding for
military training programs are key factors
driving the growth of the target drones
market. The aerial targets segment is
projected to lead the target drones market in
2020 The target drones market has been segmented
on the basis of end-use sector, end use,
application, mode of operation, payload
capacity, build, target type, engine type,
speed, type, and region. Based on end use, the
target drones market has been classified into
aerial targets, marine targets, and ground
targets. The aerial targets segment is estimated
to lead during the forecast period. This growth
of the segment is attributed to the wide adoption
of these drones in military practices across the
world to replicate enemy aircraft
threats. Download PDF Brochure _at_ https//www.marke
tsandmarkets.com/pdfdownloadNew.asp?id115334135
The defense segment is projected to lead the
target drones market Based on end-use sector, the
target drones market is segmented into defense
and commercial. The defense sector is expected to
lead and grow at a high CAGR during the forecast
period from 2020 to 2025. This segment is further
classified into military and homeland security in
the target drones market. Target drones are used
by military agencies across the globe, owing to
the benefits they offer to armed forces. An
increase in budgetary constraints, a decline in
the recruitment of defense personnel, and an
increase in the procurement of defense equipment
by the US and European countries have
necessitated the need to develop cost-effective
solutions to accomplish military missions. These
factors are driving the target drones
market. Asia Pacific projected to have a high
growth rate in the target drones market during
the forecast period
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North America is estimated to lead the target
drones market across the forecast period from
2020 to 2025. Asia Pacific is also expected to
have a high growth rate due to the increasing
procurement of state-of-the-art equipment for
military training programs. China is increasing
its defense budget to train its military
personnel using advanced techniques. An increase
in the applicability of target drones in the
military sector has propelled their demand in
China. Several manufacturers of target drones
used for aviation training exercises are based in
China. Similarly, the Indian government is
implementing new aviation policies to
manufacture aircraft components in India. The
Make in India policy has allowed 100 FDI in
the aerospace sector, which has attracted
international aviation companies to India.
Such policies have driven the demand for
target drones for aviation training exercises
in the country. For instance, Hindustan
Aeronautics Limited, a premier aircraft
manufacturer in India, is manufacturing an
unmanned version of a home-grown light
combat aircraft (LCA) known as Tejas. These
developments have contributed to the growth of
the Indian target drones market. Key Market
Players The key players in the target drones
market are The Boeing Company (US), QinetiQ Group
plc (UK), Northrop Grumman Corporation (US),
Kratos Defense Security Solutions, Inc. (US),
Airbus Group (Netherlands), Lockheed Martin
Corporation (US), Leonardo S.p.A. (Italy), BSK
Defense S.A. (Greece), Air Affairs
Australia Pty Ltd (Australia), Saab AB
(Sweden), AeroTargets International, LLC (US), L3
ASV (UK), BAE Systems (UK), Raytheon (US),
General Dynamics Corporation (US),
Almaz-Antey (Russia), Thales (France),
Embention (Spain), Griffon Aerospace (US),
and Denel Dynamics (South Africa), among
others. Ask for Sample Report _at_ https//www.market
sandmarkets.com/requestsampleNew.asp?id115334135
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