The Business Research Company’s Target Drones Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Target Drones Global Market Report 2023 evaluates target drones market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global target drones market size is expected to grow from $4.39 billion in 2022 to $4.77 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global target drones is expected to reach $6.43 billion in 2027 at a CAGR of 7.8%.
The increase in defense spending is expected to propel the growth of the target drones market going forward. Defense spending refers to the amount of the federal budget earmarked for defense, including funding for military operations, pay, training, and health care, in addition to maintaining and buying weapons, buildings, and equipment. Defense spending is used for procurement and the purchase of military drones, which have been a force multiplier in combat around the world. For instance, in April 2022, according to the UK Defense Expenditure, published by the House of Commons, the lower house of the Parliament of the United Kingdom, in 2020–21, defense spending totaled £42.4 billion (USD 49.65 billion) in monetary terms. This amounts to a nominal rise of £2.5 billion (USD 2.92 billion) and a real increase of £1.7 billion (USD 1.99 billion) over the prior year 2019–20. Therefore, increasing defense spending is driving the growth of the target drones market.
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The target drones market segments in the report are:
1) By Target: Aerial Target, Ground Target, and Marine Target
2) By Mode Of Operation: Autonomous, Remotely Piloted
3) By Engine Type: Internal Combustion Engine, Jet Engine, Other Engine Types
4) By Application: Combat Training, Target And Decoy, Reconnaissance, Target Identification, Target Acquisition
5) By End Use: Defense, Commercial
The table of contents in TBRC’s target drones market report includes:
- Executive Summary
- Target Drones Market Characteristics
- Target Drones Market Trends And Strategies
- Target Drones Market – Macro Economic Scenario
- Target Drones Market Size And Growth
…..
- Africa Target Drones Market
- Target Drones Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Target Drones Market
- Target Drones Market Future Outlook and Potential Analysis
- Appendix
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