The Global Target Drones Market is forecasted to be worth USD 7.26 billion by 2027, according to a current analysis by Emergen Research. The key factors influencing the market growth include growing adoption of the Target Drones by the defense agencies & intelligence bureau, newer use cases of drone in commercial sectors, and advacment in camera & battery technology, to name a few. Besides, extensive rise in the cross-border conflict, broadening the number of the existing miliitary monitoring & controling technology and their further upgradation based on specific needs, and asymmetric warfare along with intercountry border conflicts are some of the additional reasons behind the remarkable growth of the market. The ability of the target drones or target UAVs to take off and land vertically from or onto a tiny little space helps the user of the drone operate within a smaller vicinity having no considerable landing or take off area required. These have been considered as a preferable option to the applications of mostly inspections where a higher precision maneuvering & ability to keep firm a visual on a single, special target for extended periods is required.
The study on the Global Target Drones Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The Target Drones market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Target Drones industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Target Drones industry.
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Further key findings from the report suggest
- In December 2019, Drone Aviation Holding Corp. revealed its merger with ComSovereign Corp, a US-based consortium of the 5G telecommunications radio, power systems, and silicon photonics, designed for the next generation of global networks.
- An increasing investment in the R&D of the camera systems & major focus on its modification have created a mentionable number of use cases and remarkable growth in the Target Drones market. The Camera sub-segment in the type segment had 41.2% market share in the year 2019.
- The regions in the Asia Pacific led by China, India, and South Korea are allotting a considerable budget for their defense & law enforcement grooming purposes. Besides, growing incidences of interpersonal stand-offs, asymmetric warfare, terrorist activities, preparation for the forthcoming combats, along with higher economic development and enhancement in the manufacturing industry & semiconductor solutions, deliberately help propel market enforcement.
Competitive Landscape:
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Key Companies Profiled in the Report:
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.
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For the purpose of this report, Emergen Research has segmented into the global Target Drones Market on the basis of Payload, End-Users, Type, and Region:
Payload Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
- Camera & Explosives
- Control Systems
- Tracking Systems
- Others
End-Users Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
- Military
- Commercial
Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
- Fixed Wing
- Rotary Wing
Regional Segmentation;
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Market Dynamics:
The report offers insightful information about the market dynamics of the Target Drones market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Target Drones market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Target Drones market.
Radical Highlights of the Target Drones Market Report:
- Comprehensive overview of the Target Drones market along with analysis of the changing dynamics of the market
- Growth Assessment of various market segments throughout the forecast period
- Regional and global analysis of the market players, including their market share and global position
- Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
- Impact of the technological developments and R&D advancements on the Target Drones market
- Information about profit-making strategies and developmental strategies of major companies and manufacturers
- Insightful information for the new entrants willing to enter the market
- Details and insights about business expansion strategies, product launches, and other collaborations
- The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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