(MENAFN- America News Hour)
“Target Drones offer a solution for threat simulation trainings”
The target drones market is projected to grow from USD 3.79 billion in 2023 to USD 6.20 billion by 2033, at a CAGR of 8.55% from 2023-2033. The growth of the target drones market can be mainly attributed to factors, such as increased emphasis on enhanced military training and various advantages of target drones over manned target vehicles. However, lack of skilled and trained personnel to operate and control target drones may restrain the growth of this market.
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“The sub-scaled market segment is estimated to lead the target drones market in 2023”
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.
“The linefit segment is projected to witness highest growth during the forecast period”
Based on fit, the linefit is projected to witness the highest growth from period 2023-2033. 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 linefitted.
“North America is estimated to be the largest market for target drones in 2023”
Based on region, North America is estimated to be the largest market for target drones in 2023. 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.
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Break-up of profile of primary participants in the target drones market:
. 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%
Major companies profiled in the report include 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 AeroTargets International, LLC (U.S.).
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)
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From an insight perspective, this research report focused on various levels of analyses -industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the target drones market, high-growth regions, and market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
. 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.
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count ( SDKI ) provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.