The growing focus on integrating target drones in military agencies and the extensive financial backing and support to the defense sector, homeland security, and intelligence agencies are the significant factors stimulating the industry’s expansion.
The Global Target Drones Market is expected to be valued at USD 7.26 Billion in 2027 from USD 4.26 Billion in 2019, registering a CAGR of 6.8% through the forecast period. The crucial factors stimulating the market growth are the accelerated adoption of the target drones by the defense and intelligence agencies, more recent use cases of drones in commercial sectors, and technical upgrades in cameras and battery tech.
The augmented increase in the cross-border conflicts, escalating number of upgrades in the preexisting military monitoring and controlling technology, growing incidences of asymmetric warfare, and the inter-country border enmities are projected to further boost the adoption of target drones, thereby bolstering the market growth in the forecast timeframe. The potential of the target drones or target unmanned aerial vehicles to take off and land vertically (VTOL) from or in a small space allows the users to navigate the drone within a smaller area that doesn’t have the prerequisite landing or take-off area. This ability of the drones has boosted their use in missions such as inspections where precise maneuvering and the ability to locate and focus on the single, specific target for an extended period is crucial. This can further fuel the market expansion over the projected timeframe.
The smaller size and availability of different shapes of the drones make them perfect for stealth and confidential military missions. This, coupled with the rapid advancements in micro-camera technology and superior battery tech, is expected to drive the market growth over the projected period. The growing need for advanced technologies and the advent of a diversified portfolio is projected to generate lucrative opportunities for the market players.
You Can Download Free Sample PDF Copy of Target Drones Market at https://www.emergenresearch.com/request-sample/403
Key Highlights from the Report:
The camera segment accounted for an enormous share of the industry in 2019, occupying a 41.2% share in the global landscape. The exponential growth of the segment can be accredited to the augmenting investment in the R&D to develop cutting edge camera systems. A growing emphasis on its modification have generated numerous use cases and contributed remarkably to the market growth.
The military segment is projected to expand at a significantly high CAGR in the estimated timeframe owing to the higher use cases and investment in the development of target drones and their companions. Moreover, the escalating interest in the UAV information carriers within the defense and intelligence agencies are further bolstering the segment’s growth.
The Asia Pacific region, led by India, China, and South Korea, is projected to exhibit significant growth in the estimated period owing to the extensive expansion of the defense and law enforcement budgets. Moreover, the escalating incidences of interpersonal stand-offs, terrorist attacks, asymmetric warfare, cross-border tensions, and the increasing preparation for future battles is adding traction to the regional growth. Additionally, the higher economic development and progress of the manufacturing and semiconductor industries in the region are projected to propel market growth in the coming period.
Key companies in the market include Lockheed Martin Corporation, Airbus, Skyrocket Toys LLC, Guangdong Cheerson Hobby Technology Co., Ltd, The Boeing Company, Hubsan Technology Company Ltd., Microdrones, Acumen Robot Intelligence (ARI), Aerix Drone, and Prox Dynamics, among others.
In 2019, Drone Aviation Holding Corp. announced a merger with COMSovereign Corp. It is a consortium of the 5G technology that provides signal modulations, software and hardware, antenna, and firmware tech solutions for fixed and mobile aerial purposes. The company is based in the United States and predominantly caters to customers from the region.
Get access to FREE Sample PDF Copy of Target Drones Market at https://www.emergenresearch.com/request-sample/403
For the purpose of this report, Emergen Research has segmented the Global Target Drones Market on the basis of payload, end-user, type, and region:
Payload Outlook (Volume, Thousand Units; Revenue, USD Billion; 2017-2027)
Camera & Explosives
End-User Outlook (Volume, Thousand Units; Revenue, USD Billion; 2017-2027)
Type Outlook (Volume, Thousand Units; Revenue, USD Billion; 2017-2027)
Regional Outlook (Volume, Thousand Units; Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
Read more@ https://www.emergenresearch.com/industry-report/target-drones-market
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Target Drones Market Segmentation & Impact Analysis
Chapter 5. Target Drones Market By Product and Services Insights & Trends Revenue (USD Million)
Chapter 6. Target Drones Market By End User Insights & Trends Revenue (USD Million)
Chapter 7. Target Drones Market Regional Outlook
Chapter 8. Competitive Landscape
Company Name: Emergen Research
Contact Person: Eric Lee
Email: Send Email
Phone: +1 (604) 757-9756
Address:14671 110 Avenue Surrey, British Columbia, V3R2A9
State: British Columbia