Global Target Drone Market Size Was Valued at USD 5.04 billion In 2021, And Is Projected to Reach USD 8.20 billion By 2028, Growing at A CAGR of 7.20% From 2022 To 2028.
A market overview, as well as the most recent industry dynamics, trends, and developments, are included in the Target Drone market research report. The market CAGR, revenue value, volume, and forecast are also provided. In addition, the research study segments the market according to volume, revenue, and price history in order to predict its future size and analyse its current trends. A regional analysis of the research is also provided, encompassing important areas like North America, South America, Asia Pacific, the Middle East, and Africa.
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The industry structure, sales, and gross margin are examined in the most recent report. The headquarters, market shares, industry rating, and profiles of major players are shown. To acquire current government rules, market data, and industry data, primary and secondary research is conducted.
Key Players for the Target Drone Market:
- The Boeing Company (US)
- QinetiQ Group plc (UK)
- Northrop Grumman Corporation (US)
- Kratos Defense Security Solutions Inc. (the 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)
- Denel Dynamics (South Africa) and other major players.
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Segmentation Analysis of the Target Drone Market
By Engine Type
- Internal Combustion Engine
- Jet Engine
- Others
By End Users
- Defense
- Homeland Security
- Commercial
By Region
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
- Middle East Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of SA)
COVID-19 Impact on the Target Drone Market
COVID-19 has provided an opportunity for a surge in target drone applications and use cases. Target drone use cases have shown benefits in surveillance, disaster management, and delivery services. Until recently, many viewed drones as a technology that is still in an early developmental stage with limited-scale programs due to both technology and regulatory roadblocks. But COVID-19 is bringing out innovative drone use cases. As COVID-19 demands social distancing, a drone can act as a mode of transport and communication, requiring limited human-to-human interaction. Countries all over the world have been using drones in several innovative ways. The world (authorities and corporations) is looking for a "no-touch" medium for businesses and day-to-day operations as social alienation and lockdown become the new normal. Target drones have shown a lot of potential for carrying out and running these operations with low risk, and their use in the war against COVID-19 has been constantly expanding. New use cases have been implemented to help authorities with a variety of issues. Therefore, the sudden demand boost for target drones benefited the growth of the market during Covid19.
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Reasons to Purchase Global Target Drone Market Report:
- Important changes in Target Drone market dynamics
- What is the current Target Drone market scenario across various countries?
- Current and future of Global Target Drone market outlook in the developed and emerging markets.
- Analysis of various perspectives of the market with the help of Porter's five forces analysis.
- The segment that is expected to dominate the Global Target Drone market.
- Regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, Global Target Drone market shares, and strategies employed by the major market players.
- Former, on-going, and projected Target Drone market analysis in terms of volume and value
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