According to the research report titled ‘Global Target Drone Market Size study with COVID-19 Impact, by Engine Type (Piston Engine, Wankel Engine, Turboprop and Turbojet engines), by Platform (Aerial Target, Ground Target, Underwater Target and Sea Surface Target), by Application (Military, Aerospace, Science Research and Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global target drone market is expected to register unprecedented growth during 2020-2027.
 

Focus towards improved military training along with increasing awareness pertaining to benefits of target drones as compared to manned target vehicles are prime factors propelling the growth of the market. According to Statista, U.S. invested over USD 466.76 billion towards military sector in the year 2000, which then reached USD 718.69 billion in 2019.
 

Notably, a target drone is a remote operated UAVs (unmanned aerial vehicle) and is widely used for training anti-aircraft crew. The product is employed for various military training applications such as sea surface target, underwater target, aerial target, and ground target.
 

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Technological advancements and introduction of innovative variants are also aiding the expansion of global target drone market. In September 2019, for instance, QinetiQ Group plc introduced an advanced target drone called Banshee NG. The product can recreate fast flying missiles and jets, further allowing for tests and assessment of live training exercises.  
 

The unexpected outbreak of coronavirus pandemic has not only disrupted the supply chain and manufacturing processes but also changed business development programs of leading companies, in turn negatively impacting the remuneration of global target drone market. Besides, lack of skilled personnel may act as an inhibiting factor to the growth of the market over 2020-2027.
 

In terms of engine type, the market is segmented into turbojet engines, turbo prop, Wankel engine, and piston engine. Moving on to platform type, global target drone market is split into sea surface target, underwater target, ground target, and aerial target. The application landscape of this industry vertical consists of science research, aerospace, military, and others.
 

Considering the geographical landscape, the report states that North America target drone market is expected to generate considerable revenues by the year 2027. Meanwhile, Asia-Pacific market is slated to record highest CAGR during the forecast period.
 

The competitive landscape of worldwide target drone market is defined by companies such as Leonardo S.p.A., Saab AB, BSK Defense S.A., Lockheed Martin Corp., Air Affairs Australia Pty. Ltd., Airbus Group, Kratos Defense & Security Solutions Inc., Northrop Grumman Corp., QinetiQ Group plc, and The Boeing Co. among others.