How big is the target drone market?

The global target drone market size was estimated at USD 5.18 billion in 2023 and is expected to reach USD 5.64 billion in 2024.

What is the target drone market growth?

The global target drone market is expected to grow at a compound annual growth rate of 9.3% from 2024 to 2030 to reach USD 9.64 billion by 2030.

Which segment accounted for the largest target drone market share?

The target drone market in North America accounted for a significant revenue share of over 34% in 2023. The market is driven by the extensive use of drones for military training and testing purposes. The U.S. Department of Defense’s significant investments in drone technology, coupled with the presence of major drone manufacturers, is boosting the market growth.

Who are the key players in target drone market?

Some key players operating in the target drone market include Lockheed Martin Corporation, Northrop Grumman Corporation, The Boeing Company, Airbus SE, BAE Systems plc, Kratos Defense & Security Solutions, Inc., QinetiQ Group plc, Griffon Aerospace, Leonardo S.p.A., Safran Electronics & Defense

What are the factors driving the target drone market?

Key factors that are driving target drone market growth include the increasing military and defense expenditures worldwide, growing interest in law enforcement agencies, search and rescue teams, and industries such as security and surveillance, and the need for realistic training and simulation.