Northbrook, IL 60062 -- (SBWIRE) -- 07/27/2022 -- This report provides an analysis of the target drones market from 2019 to 2027. It discusses industry and technological trends that are currently prevailing in the market. It analyses factors driving and restraining the growth of this market, as well as the challenges faced it.

The market is estimated to be USD 4.5 billion in 2022 and is projected to reach USD 6.4 billion by 2027, at a CAGR of 7.4% during the forecast period. Key factors fueling the growth of this market include growing adoption of unmanned vehicles for military operations.

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On the basis of target type, the target drones market has been segmented into full-scale, subscale, free-flying, towing, and sporting. F-4 and F-16 are examples of full-scale target drones. The subscale segment comprises remotely controlled small-sized target drones used in air-to-air weapon system evaluation and air-to-air evaluation programs. The free-flying segment comprises target drones that are launched using a launcher, as they do not contain a propulsion system. The towing segment includes aerial tow targets, whereas the sporting segment comprises drones that are used in shooting sports.

On the basis of type, the target drones market has been segmented into fixed wing and rotary wing segment. With a growing focus on the simulation of enemy threats in military practices, target drones are expected to witness prominent demand across the forecast period. Fixed wing target drones accounted for an 86.7% share in the overall target drones market. The growing market presence of fixed wing target drones is credited to the emphasis on the replication of threats such as fighter jets and other fixed wing aircraft in military training. Fixed wing target drones are further divided into drones and cruise targets.

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On the basis of speed, the target drones market has been segmented into low speed and high speed. Owing to limited defense budget allocation in emerging economies, high speed target drone purchase is not feasible, as these drones are highly priced. Such countries use drones that are operated at a comparatively low speed.