Target Drones Global Market Report 2024

The global target drones market has grown strongly in recent years. It will grow from $4.78 billion in 2023 to $5.21 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth observed during the historical period can be attributed to several factors, including the increasing demands of military training requirements, rising defense budgets allocated towards modernization, the incorporation of electronic warfare training into military exercises, a significant surge in the adoption of unmanned systems, extensive testing and evaluation of missile systems, and the necessity for realistic moving target scenarios in training simulations.

The global target drones market is expected to see strong growth in the next few years. It will grow to $7.14 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. Anticipated growth in the forecast period can be linked to several key factors, including the increased demand for multi-domain training solutions, a heightened focus on electronic attack training, the integration of target drones with live-fire exercises, a growing emphasis on anti-drone training methods, adoption of high-speed target drones for improved simulation, real-time telemetry integration for enhanced training scenarios, and customization to replicate specific threat scenarios. Key trends expected in the forecast period encompass advancements in autonomy and artificial intelligence (AI) technologies, integration of electronic warfare (EW) capabilities into training systems, development of high-speed and agile drones for more realistic simulations, expanding adoption in air-to-air combat training exercises, collaborations aimed at technological advancements, and the integration of high-fidelity sensors for improved training fidelity and accuracy.

The anticipated increase in defense spending is poised to drive the growth of the target drones market. Defense spending, comprising funds allocated for military operations, personnel, training, healthcare, and procurement of weapons and equipment, plays a pivotal role in the acquisition of military drones. Drones have proven to be a force multiplier in combat scenarios globally. According to the UK Defense Expenditure report published by the House of Commons in April 2022, defense spending in 2020-21 totaled £42.4 billion (USD 49.65 billion), representing a nominal increase of £2.5 billion (USD 2.92 billion) and a real increase of £1.7 billion (USD 1.99 billion) compared to the previous year. This upward trend in defense spending is a key driver for the growth of the target drones market.

The increasing adoption of drones for commercial applications is set to propel the growth of the target drones market. Commercial drones, utilized across various industries such as agriculture, construction, delivery services, and insurance, have become integral for diverse applications. Target drones, with their capabilities for infrastructure inspection and package delivery, align with the increasing demand for commercial drone usage. As of August 2023, the Federal Aviation Administration reported a total of 352,222 registered commercial drones. In November 2021, the application of drones in various sectors was estimated to be worth around $127 billion, with the number of jobs operating drones reaching 422,000 by 2021, according to Seed Scientific, a US-based consulting firm. This surge in commercial drone adoption is a significant driver for the target drones market.

Technological advancement is a prominent trend in the target drones market, with major players focusing on innovation to sustain their market positions. In February 2022, EDGE, a UAE-based defense and space manufacturing company, introduced swarming drones equipped with advanced artificial intelligence (AI) technology. These unmanned aerial systems (UAS) can swarm together in a joint mission, showcasing unique features such as agility, quick navigation, a maximum take-off weight of 8 kg, substantial communications range, and solid endurance. This emphasis on technological advancement demonstrates the commitment of major players to evolving trends in the target drones market.

Prominent companies in the target drones market are actively pursuing strategic partnerships as a key approach to jointly produce target drones, gaining a competitive advantage in the market. These partnerships are formed with the objective of leveraging the collective expertise and resources of each company to manufacture high-quality target drones that meet the specific requirements of military forces across different countries. For example, in July 2023, Woot Tech Aerospace LLC, a US-based aerospace company, entered into a strategic partnership with Anqa Aerospace, a Saudi Arabia-based aerospace and defense company. The collaboration aimed to jointly produce the Firefly series of reconfigurable propeller-driven aerial target drones. The Firefly series features a reliable airframe that can be easily converted into different configurations, including an all-electric eVTOL, a piston engine hVTOL for simulating the infrared signature of internal combustion engines, or a conventional takeoff CTOL. This innovative approach allows Firefly to integrate seamlessly with existing catapult launcher infrastructure while providing a new, constraint-free takeoff and landing mechanism.

In May 2022, RattanIndia Enterprises, an India-based company with a focus on cutting-edge technologies, made a strategic move by acquiring a 60% stake in Throttle Aerospace Systems Private Limited. This acquisition enhances RattanIndia Enterprises' ability to provide comprehensive 360-degree drone solutions, covering software as a service, drones as a service, and drones as a product (DAAP - drone hardware). Throttle Aerospace Systems Private Limited, based in India, is engaged in defense and space manufacturing, with a specialization in drone manufacturing. The acquisition strengthens RattanIndia Enterprises' position in the target drones market by expanding its capabilities in providing end-to-end drone solutions.

Major companies operating in the target drones market report are Airbus SE, BAE Systems PLC, Denel Dynamics, Embention, Griffon Aerospace, Leonardo S.p.A., Northrop Grumman Corporation, Boeing, AeroTargets International, Air Affairs Australia, Kratos Defense & Security Solutions Inc., General Dynamics Corporation, L3Harris Technologies, Safran S.A., SCR Drones, AeroVironment Inc., Airborne Technologies GmbH, Al Marakeb Boat Manufacturing Co LLC, Altavian Inc., BSK Defense S.A., Composite Engineering Inc., CybAero AB, DroneShield Limited, ECA Group, FlightWave Aerospace Systems Inc., Gaitech International Ltd., General Atomics Aeronautical Systems Inc., Orbital UAV Pty Ltd, Innocon Ltd., Kongsberg Defence & Aerospace AS

North America was the largest region in the target drones market in 2023. Asia-Pacific is expected to be the fastest-growing region in the target drones market report during the forecast period. The regions covered in the target drones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the target drones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of target drones include aerial, ground, and marine targets. Aerial targets represent simulated enemy aircraft, ADA (Air Defense Artillery), or bombers, replicating remote-controlled aircraft, cruise missiles, and subsonic tactical aircraft for training purposes. They are utilized extensively in battle training and for testing air defense missiles, small arms, artillery systems, and fighter aircraft weapon systems. Target drones employ various engine types such as internal combustion engines, jet engines, and others, utilizing both autonomous and remotely piloted operation modes. Applications of target drones encompass combat training, decoy operations, reconnaissance missions, target identification, and target acquisition, serving purposes in defense-related activities and commercial uses.

This report provides target drones market statistics, including target drones industry global market size, regional shares, competitors with a target drones market share, detailed target drones market segments, market trends and opportunities, and any further data you may need to thrive in the target drones industry. This target drones market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The target drones market consists of sales of unmanned aerial vehicles, generally remote-controlled target drones, and raider quadcopters. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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