Manufacturers Gaining Contracts as Supersonic Target Drones Capturing Attention of Several Countries: Fact.MR Report
Manufacturers Gaining Contracts as Supersonic Target Drones Capturing Attention of Several Countries: Fact.MR Report
As per a revised research study released by Fact.MR, the global target drone market is estimated to be worth US$ 29.97 billion in 2024 and is analyzed to expand at 22.3% CAGR from 2024 to 2034.
The increasing need for autonomously moving targets for military training exercises is one of the main reasons air, ground, and naval forces worldwide are deploying target UAVs. The increasing amount of money that several countries are spending on their militaries is another important factor driving the acquisition of target drone technologies. In addition, militaries are looking for unmanned aerial targets that fly quickly so that they can prepare for maritime and aerial conflicts in a better way.
Supersonic target drones are being used in military exercises, including countermeasures or the destruction of supersonic missiles. The primary cause of this is the growing arsenal of supersonic missiles that are in use by various armed forces across the globe. Many suppliers in the market are largely focusing on the development of supersonic target drones to meet this growing demand.
Key Takeaways from the Market Study:
“Due to advancements in flight capabilities, autonomy, and payload capacity, target drones are becoming more common in military training exercises and weapon testing,” says a Fact.MR analyst.
Receive a Tailored Analysis for Specific Research Solutions: https://www.factmr.com/connectus/sample?flag=S&rep_id=7891
Fixed-Wing Drones Gaining Popularity Over Rotary Wings
Compared to rotary-wing target drones, fixed-wing drones are growing in popularity because of their longer flight times and greater range, which makes them ideal for applications needing long-range or large-area coverage. Fixed-wing target drones are useful for air defense training and missile testing because of their extraordinary speed, agility, and capacity to imitate a broad range of aircraft and missile types.
In addition, as technology advances, these drones have become more sophisticated, which has increased demand as most armed forces strive to remain combat-ready in a shifting battlefield scenario across the world.
Target Drone Industry News:
Key players in the target drone market include major defense contractors and specialized manufacturers, leveraging advanced technologies and securing significant contracts. Target drones play a crucial role in countering cross-border terrorism, combat training, smuggling operations, and maritime security, with advancements in target type, platform, payload, speed, and operation mode.
In February 2024, Kratos Defense & Security Solutions received a USD 57.7 million contract modification from the U.S. Navy to produce target drones that mimic anti-ship missiles. In March 2023, Qinetiq secured a contract from the Japan Ground Self-Defense Force for Banshee Jet 80+ UAV targets. In March 2022, a Turkish state-owned company announced the development of a supersonic target drone, part of the SIMSEK High-Speed Target Drone Project, which is currently undergoing flight tests.
Leading Players Driving Innovation in the Target Drone Market:
Key industry participants like Airbus; QinetiQ Group plc; The Boeing Company; Thales Group, BAE Systems plc, Leonardo S.p.A; Raytheon Technologies Corporation; Kratos Defense & Security Solutions, Inc.; Target Arm Inc.; Northrop Grumman etc., are driving the target drone industry.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=S&rep_id=7891
More Valuable Insightson Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the target drone market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on target (aerial, water, ground), operation (remotely piloted, autonomous), drone type (fixed wing, rotary, hybrid), and end user (military, commercial security, police & homeland, aviation & aerospace), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
Check out More Related Studies Published by Fact.MR Research:
Drone services market is projected to be valued at USD 6,629.4 million in 2023. Driven by increasing demand, the market is expected to grow at a CAGR of 14.3%, reaching USD 25,231.1 million by 2033.
Sales of drones are evaluated to climb to US$ 223.66 billion by the end of 2034, up from US$ 29.96 billion in 2024. The global drone market size is projected to expand at a remarkable CAGR of 22.3% from 2024 to 2034.
Industrial drone market is estimated to reach a valuation of US$ 4,474.8 million in 2023 and will top US$ 24,226.5 million by 2033, growing with a CAGR of around 18.4% from 2023 to 2033.
Fixed wing drone market size is estimated to reach US$ 8.3 billion in 2024 and has been forecasted to climb to a value of US$ 40.6 billion by the end of 2034, expanding at a CAGR of 17.2% between 2024 and 2034.
Kamikaze Drone Market is valued at US$ 2,628.2 million in 2024 and has been forecasted to expand at a noteworthy CAGR of 15.3% to end up at US$ 10,913.2 million by 2034.
A target drone is an unmanned aerial vehicle used primarily for military training exercises, simulating enemy aircraft or missiles for defense training.
CAGR stands for Compound Annual Growth Rate, which measures the mean annual growth rate of an investment over a specified time period longer than one year.
Fixed-wing drones are unmanned aerial vehicles that have a fixed wing structure, allowing for longer flight times and greater range compared to rotary-wing drones.
An autonomous drone is an unmanned aerial vehicle that can operate without human intervention, using onboard sensors and software to navigate and perform tasks.
Explore more articles in the Research Reports category
