Global Target Drone Market Grows Steadily at a CAGR of 8.77%

Target drones are a subclass of remote-controlled unmanned aerial vehicles (UAVs) used for testing and evaluating armament systems, counter-artillery operations, and replicating actual air combat training for anti-aircraft crews. It increases the combat readiness of the nation's defense forces by providing dependable, efficient, and cost-effective weaponry, training, and employment. An essential element is that the primary components (battery, micromotor, controller, and sensors) are virtually identical regardless of the shape and size of the drone. Market Dynamics Increasing Adoption of Unmanned Systems for Military Operations Drives the Global Market Unmanned systems have been widely used for various military purposes, introducing a new dimension to the defense industry. Unmanned devices lessen military troops' workload and direct contact with the enemy. Hence, remotely operated systems proved to be preferable to manually operated systems. Employing remotely piloted target drones reduces mission duration and operational expenses. In addition, unmanned systems have shown to be highly dependable. They are utilized by government agencies and military forces worldwide since they lessen the chance of injury to the pilot. In order to replicate the threat posed by an autonomous system on the battlefield, the demand for target drones has steadily risen over the past two decades. Rising Deployment of Defense Systems in Emerging Countries Creates Tremendous Opportunities The increased geopolitical instability, cross-border infiltration, and terrorism, along with the better economic conditions of emerging economies, fueled the demand for air defense systems that can protect a nation from aerial attacks. Many growing countries, including India, Saudi Arabia, and Turkey, wish to implement layered air and missile defense systems to address aerial threats posed by hostile governments and terrorist organizations. In addition, as global tension and insecurity increase, numerous growing nations want to develop the most sophisticated air, naval, and ground defensive systems. As a result, it presents an opportunity for makers of target drones to deliver unmanned vehicles to these nations for purposes such as target and decoy, target acquisition, and combat training. Regional Analysis North America is the most significant shareholder in the global target drone market and is expected to grow at a CAGR of 9.06% over the forecast period. The North American region includes regional markets in the United States and Canada. The need for target vehicles and accompanying systems will expand dramatically in the coming years. Currently, businesses are inventing and producing products and solutions to fulfill market demands. The region is among the world's most technologically advanced. It features a number of potential enterprises creating goods for defense and military training applications to meet the diverse market demands. In addition, several payloads, such as infrared augmentation, proximity scoring, tow targets, and passive and active radar augmentation, are being explored on the target drone market in the region. Further, Boeing, AeroTargets International LLC, Griffon Aerospace, and Kratos Defense and Security Inc. are among North America's leading manufacturers of target drone technology. Europe is expected to grow at a CAGR of 8.49% over the forecast period. Numerous firms, including BAE Systems, MBDA, Thales Group, Leonardo S.p.A, Saab A.B., Kongsberg Defence and Aerospace, and Rheinmetall AG, have headquarters in this region, resulting in a substantial amount of money. These businesses test and assess their military systems using target drones. The military and defense organizations in the region acquire target drones for their personnel's training and growth. In addition, many manufacturing, research, and development centers exist in the United Kingdom, Russia, Germany, and France to produce creative solutions to meet market demands. Europe has also played an essential role in the industry by producing, among other things, high-speed target drones, launch platforms, and recovery systems. Many manufacturing and R&D facilities are located in Europe's nations, allowing for the creation of countless new products and services. Key Highlights The global target drone market was valued at USD 4,895.71 million in 2022. It is estimated to reach USD 10,431.52 million by 2031, growing at a CAGR of 8.77% during the forecast period (2023–2031). Based on target type, the global target drone market is bifurcated into full-scale, sub-scaled, and towing. The sub-scaled segment owns the highest market share and is estimated to rise at a CAGR of 9.94% over the forecast period. Based on the mode of operation, the global target drone market is divided into remotely operated, optionally piloted, and autonomous operation. The remotely operated segment accounts for the largest market share and are anticipated to grow at a CAGR of 4.43% over the forecast period. Based on the platform, the global target drone market is divided into aerial, marine, and ground drones. The aerial drones segment owns the highest market share and is predicted to grow at a CAGR of 8.83% over the forecast period. Based on payload, the global target drone market is divided into flares, passive and active radar augmentation, infrared augmentation, electronic payloads, and others.  Based on application, the global target drone market is bifurcated into combat training, target and decoy, target identification, target acquisition, and others. The combat training segment owns the highest market share and is predicted to grow at a CAGR of 8.78% over the forecast period. Based on the end-user, the global target drone market is bifurcated into the military, homeland security, and defense companies. The military segment is the highest contributor to the market and is projected to grow at a CAGR of 7.84% during the forecast period. North America is the most significant shareholder in the global target drone market and is expected to grow at a CAGR of 9.06% over the forecast period. Competitive Players The key players in the global target drone market are Air Affairs Australia, AeroTargets International LLC, Airbus S.A.S., Boeing, Griffon Aerospace, DRDO, Kadet Defence Systems, Denel SOC Ltd, Kratos Defense & Security Solutions, Inc., Lockheed Martin Corporation, Leonardo S.p.A., Northrop Grumman, QinetiQ, Robonic Ltd Oy, and SCR, Sistemas de Control Remoto. Market News In March 2023, Kratos won USD 21.7 million Air Force contract for target drones. In February 2023, Kratos Defense & Security Solutions, Inc. announced that Kratos had accepted a USD 49,568,200 Full Rate Production (FRP) service agreement from the U.S. Navy for Lot 4 of the BQM-177A Subsonic Aerial Target for the procurement of 55 additional mission kits, aircraft, certain flight consumables, and technical data. Global Target Drone Market: Segmentation By Target Type Full Scale Sub-Scaled Towing By Mode of Operation Remotely Operated Optionally Piloted Autonomous Operation By Platform Aerial Drones Marine Drones Ground Drones By Payload Flares Passive and Active Radar Augmentation Infrared Augmentation Electronic Payloads Others By Applications Combat Training Target and Decoy Target Identification Target Acquisition Others By End-User Military Homeland Security Defense Companies By Regions North America Europe Asia-Pacific Rest-of-the-World