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(MoneyNewsWire.Net, May 19, 2018 ) The target drones market is projected to grow from USD 3.79 Billion in 2016 to USD 6.20 Billion by 2022, at a CAGR of 8.55% during the forecast period. The increasing demand of target drones in militaries across the globe is a key factor expected to drive the growth of the market. The market has been segmented based on engine type, end user, fit, platform, target type, and region.
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Based on engine type, the target drones market has been segmented into internal combustion engines, and jet engines, among others. The jet engine segment is estimated to dominate the market in 2016. The high adoption rate of jet engine target drones in militaries, due its excellent maneuvering and high speed capabilities is one the reason for the growth of the segment in near future.
Based on end user, the market has been segmented into defense, homeland security, and commercial. Defense is estimated to be the largest segment of the target drones market, since target drones are majorly used for anti-aircraft, anti-missile, and anti-submarine military trainings in the defense sector. Target drones are also used for missile and weapon calibration testing.
Based on fit, the target drones market has been segmented into linefit and customized fit. The linefit segment is estimated to lead the market, as the customized fit segment is present only in the U.S. and the U.K.
Based on platform, the market has been segmented into aerial targets, ground targets, underwater targets, and sea surface targets. Aerial targets segment is estimated to be the largest segment of the market, since only aerial targets can be used for anti-aircraft, anti-missile military trainings and missile calibration testing. The trainings are performed by all segments of armed forces, such as air force, navy and military.
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Based on target type, the market has been segmented into full-scaled, sub-scaled, towing, free flying, and sporting. The sub-scaled segment is estimated to lead the market, as sub-scaled models are cheap alternative to simulate enemy threat instead of using an actual aircraft during training. The adoption rate of sub-scaled target drones is very high in all armed forces across the globe.
The geographical analysis of the market covers regions, such as North America, Europe, Asia-Pacific, MENA, and rest of the world. North America is estimated to lead the global target drones market in 2016, owing to the increasing defense expenditure in training programs and the rise in budget allocated for procurement of target drones in the U.S.
Lack of skilled and trained personnel to operate and control target drones may restrain the growth of this market.
Products offered by various companies operating in the target drones market have been listed in this report. Major players in the target drones market include The Boeing Company (U.S.), Northrop Grumman Corporation (U.S.), QinetiQ Group plc (U.K.), Kratos Defense & Security Solutions, Inc. (U.S.), Saab AB (Sweden), Lockheed Martin Corporation (U.S.), Airbus Group (Netherlands), Leonardo S.p.A. (Italy), ASV Global (U.K.), and AeroTargets International, LLC (U.S.).
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