Drone target market size – USD 4.26 billion in 2019, market growth – CAGR of 6.8%,
VANCOUVER, BC, CANADA, April 18, 2022 /EINPresswire.com/ — The global drone target market is expected to reach $7.26 billion by 2027, according to current analysis from Emergen Research. Major factors influencing the growth of the market include increasing adoption of target UAVs by defense agencies and intelligence office, new use cases for drones in commercial sectors, and developments in camera technology and batteries, to name a few.
The ability of target drones to take off and land vertically from or on a very small space helps the drone user to operate in a smaller vicinity without a considerable landing or takeoff area required. These have been considered a preferable option for most inspection applications where greater maneuvering accuracy and an ability to maintain a firm visual on a single special target for extended periods of time is required.
The report offers estimates and forecasts on the market segment and sub-segments showing promising growth in the forecast timeline. The report also provides deeper insights into the technological advancements, industrial landscape, and emerging product and technological developments in the Target Drones market. It offers fruitful business insights to help companies capitalize on lucrative growth opportunities.
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Other key findings from the report suggest
Growing investment in camera system R&D and emphasis on its modification has created a notable number of use cases and remarkable growth in the target drone market. The Camera sub-segment within the type segment held 41.2% market share in 2019.
The Asia-Pacific regions led by China, India and South Korea allocate a considerable budget to their defense and policing objectives. In addition, the increasing incidence of interpersonal clashes, asymmetric warfare, terrorist activities, preparation for upcoming battles, as well as higher economic development and improvement in manufacturing industry and semiconductor solutions , deliberately contribute to propel the application of the market.
Key Players profiled in the report are: Airbus, The Boeing Company, Lockheed Martin Corporation, Skyrocket Toys LLC, Guangdong Cheerson Hobby Technology Co., Ltd, Hubsan Technology Company Ltd., Prox Dynamics, Microdones, Aerix Drone and Acumen Robot Intelligence ( ARI), among others.
Additionally, the report provides a comprehensive overview of the Target Drones market along with the product portfolio and market performance. The report offers key insights on market share, supply chain analysis, supply and demand relationship, import/export details, and product and consumption patterns. For better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.
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The analysis of the segments and their growth projection is carried out by historical and current in-depth analysis of the market scenario. Additionally, the report provides details of the Target Drones market drivers and characteristics that are expected to drive the growth of the industry in the coming years.
For the purposes of this report, Emergen Research has segmented the global target drone market on the basis of payload, end users, type and region:
Payload Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
Camera and explosives
End User Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
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Market Segment by Region/Country:
North America (USA, Canada, Mexico, etc.)
Europe (Germany, UK, France, Italy, Russia, Spain, etc.)
Asia-Pacific (China, Japan, South Korea, India, Australia, Southeast Asia, etc.)
South America (Brazil, Argentina, Colombia, Chile, etc.)
Middle East and Africa (South Africa, Egypt, Nigeria, Saudi Arabia, etc.)
Key questions answered by the report:
What is the target drone market growth rate? What is the anticipated market valuation of the Target Drones industry by 2028?
What are the key growth drivers and restraining factors of the Target Drones market?
Who are the major players operating in the market? What are the main strategies adopted by these companies?
What are the key opportunities and growth prospects of the Target Drones industry during the forecast period?
Which region is expected to show significant growth in the coming years?
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