Market Leaders - Target drones Market
Target drones are autonomous, remotely piloted, or optionally piloted unmanned vehicles primarily utilized for anti-aircraft target practice. These target vehicles can perform a variety of defense operations and are used in combat training, target & decoy, reconnaissance, target identification, and target acquisition, among others. The estimated target drones market is USD 4.5 billion in 2022 and is projected to reach USD 6.4 billion by 2027, at a CAGR of 7.4% from 2022 to 2027.
Increased R&D investments and high funding for military training programs are key factors driving the target drones market growth. Additionally, rising incidences of political violence, maritime piracy, terrorism, insurgency, and civil unrest have increased investments in the field of realistic military training & simulation, thereby contributing to the growing demand for target drones.
Key players in the target drones market include QinetiQ Group plc (UK), Kratos Defense & Security Solutions, Inc. (US), Airbus Group (Netherlands), Northrop Grumman Corporation (US), and Boeing Company (US). These players have been focusing on securing government contracts for their organic growth. Their core competencies include high investments in R&D activities.
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QinetiQ Group plc provides innovative military protection products and specializes in unmanned and maritime systems as well as products in related commercial markets. It primarily operates through two business segments: EMEA services and global products. The company is focused on increasing its market share by investing in its core business in both, the UK and international markets.
Kratos Defense & Security Solutions, Inc. (Kratos) is a government contractor at the forefront of the US Department of Defense’s (DoD) recapitalization of strategic weapon systems to address peer and near-peer threats and related Rapid Innovation Initiatives of the DoD. The company provides products and systems in the areas of unmanned systems, satellite communications, microwave electronics, cybersecurity/cyber warfare, and missile defense & combat systems.
Boeing is one of the leading manufacturers of commercial jetliners and defense, space, and security systems. Its products & services include commercial & military aircraft, satellites, weapons, electronic & defense systems, unmanned systems, launch systems, advanced information & communication systems, and performance-based logistics & training. The company operates through four business segments: commercial airplanes; defense, space & security; global services; and Boeing capital. The company offers its products for the UAV market through its defense, security, and space business segments.
Airbus Group operates in 170 locations across the globe under three divisions: Airbus, Airbus Defense and Space, and Airbus Helicopters. The Airbus division develops, manufactures, markets, and sells commercial jet aircraft and military transport & special mission aircraft. The Airbus Group has operations across North America, Europe, Asia Pacific, the Middle East, and Latin America.
Northrop Grumman Corporation is an integrated global defense and security enterprise that provides a range of products & solutions in the information & services, electronics, aerospace, and technical services segments globally.
Major products of the company include C4ISR systems, electronic warfare systems, cyber solutions, space systems, intelligence processing systems, air & missile defense (AMD) integration, and autonomous systems. Northrop Grumman is a leader in the designing, development, and production of autonomous systems primarily used for intelligence, surveillance, and reconnaissance (ISR) missions.
Related Reports:
Target drones Market by End-use Sector (Defense, Commercial), End Use (Aerial Targets, Ground Targets, Marine Targets), Application, Mode of Operation, Payload Capacity, Build, Target Type, Engine Type, Speed, Type and Region - Global Forecast to 2027
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