(USGovernment-News.Com, June 04, 2020 ) The Target Drones Market report provides an analysis of the market from 2018 to 2025. It discusses industry and technology trends prevailing in the market, along with the drivers, restraints, challenges, and opportunities. The market is projected to grow from USD 4.4 billion in 2020 to USD 6.3 billion by 2025, at a CAGR of 7.6% during the forecast period. The market in North America is expected to witness substantial growth during the forecast period, especially in the US, due to the increasing emphasis on simulating enemy threats with the use of UAVs in military practices.
Based on build, the newbuild segment is expected to hold a larger share in the target drones market by 2025. Newbuild target drones are a crucial alternative to converted target drones for defense forces worldwide, as the modification of an aircraft is cumbersome, post-delivery. All the required systems and components are installed in newbuild target drones prior to delivery, which saves time as well as reduces the need to employ a separate workforce for installation of components.
Based on target type, the subscale segment is projected to drive the market for target drones by 2025. Subscale target drones are low-cost variants of full-scale target drones and are used as high-fidelity enemy threat surrogates, simulating the performance characteristics of threat aircraft and missiles. These drones are utilized by military forces worldwide for weapons testing and training requirements.
Based on region, the target drones market is segmented into five, namely, North America, Europe, Asia Pacific, Middle East & North Africa, and Rest of the World. The market in Asia Pacific is projected to grow at a prominent rate during the forecast period from 2020 to 2025. The increasing defense expenditure of countries such as Japan and South Korea and the expansion of military command in Asia Pacific countries have propelled the demand for target drones in this region. Owing to an increase in border disputes, countries in this region are increasingly investing in the procurement of defense equipment and training of military personnel. Such investments are anticipated to drive the market growth for target drones.
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