Target Drone Market Size, Share, Growth Analysis, By Engine Type(Internal Combustion, Jet, Others), By Mode of Operation(Autonomous, Remotely Piloted, Optionally Piloted), By Type(Fixed wing, Rotary wing), By Build(New Build, Converted), By By Application(Combat Training, Target and Decoy, Reconnaissance, Others), By End Use Sector(Defense, Commercial), By End Use(Aerial target, Ground target, Marine target), By Target Type(Full scale, Sub-scale, Free flying, Others), By Payload Capacity(High (>40Kg), Medium (20Kg-40Kg), Low (<20 Kg)), By Region - Industry Forecast 2024-2031

Target Drone Market size was valued at USD 4.50 billion in 2022 and is poised to grow from USD 4.83 billion in 2023 to USD 8.56 billion by 2031, growing at a CAGR of 7.4% in the forecast period (2024-2031).

The target drone market is highly competitive, with multiple major competitors actively promoting market expansion through technological innovations, creative product development, and tactical alliances. Among the leading firms in the market are Kratos Defense & Security Solutions, Inc., AeroTargets International, LLC, Northrop Grumman Corporation, QinetiQ Group plc, Airbus SE, and Boeing. These businesses are concentrating on creating cutting-edge target drone systems to meet different military and defense training needs. Enhancing realism, durability, and mobility are just a few examples of the innovative target drone technologies that these gamers are utilizing to stay competitive. Collaborations with defense organizations and research institutions for joint development of target drones are also prevalent, allowing manufacturers to leverage their expertise in unmanned aerial systems. 'Kratos Defense & Security Solutions, Inc.', 'AeroTargets International, LLC', 'Northrop Grumman Corporation', 'QinetiQ Group plc', 'Airbus SE', 'The Boeing Company', 'Lockheed Martin Corporation', 'Leonardo S.p.A.', 'Raytheon Technologies Corporation', 'Textron Inc.', 'BAE Systems plc', 'Meggitt PLC', 'Thales Group', 'Saab AB', 'Denel Dynamics'

In response to armed forces around the globe upgrading their defense and training systems, the demand for sophisticated and realistic target drones for the purpose of military training and simulation has increased.

Rise in Military Training and Simulation: The increasing emphasis on realistic military training and simulation exercises is driving the demand for target drones. These drones replicate enemy aircraft or threats, providing invaluable training opportunities for armed forces to enhance their combat readiness and tactics.

North America holds the top position in the market thanks to the fact that it serves as a base for various significant defense manufacturing and research centers, its rapid technical development, and its increased investments in the defense sector. The region’s well-established defense industry and current military modernization initiatives for uses in weapon testing, surveillance, and military training have driven target drone demand in this segment. The US has heavily contributed to the expansion of the drone market in North America.