FACTS AT A GLANCE
Edition: 8; Released: April 2021
Executive Pool: 3374
Companies: 14 – Players covered include Aerotargets International, LLC; Air Affairs Australia Pty., Ltd.; Airbus Group; Asv Global; Kratos Defense & Security Solutions, Inc.; Leonardo SpA; Lockheed Martin Corporation; Northrop Grumman Corporation; QinetiQ Group PLC; SAAB AB; The Boeing Company and Others.
Coverage: All major geographies and key segments
Segments: End-Use (Defense, Homeland Security, Commercial); Platform (Aerial, Ground, Underwater, Sea Surface)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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ABSTRACT-
Global Target Drones Market to Reach $7.2 Billion by 2026
Amid the COVID-19 crisis, the global market for Target Drones estimated at US$4.7 Billion in the year 2020, is projected to reach a revised size of US$7.2 Billion by 2026, growing at a CAGR of 7.2% over the analysis period. Defense, one of the segments analyzed in the report, is projected to record a 7.9% CAGR and reach US$4.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Homeland Security segment is readjusted to a revised 6.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.5 Billion in 2021, While China is Forecast to Reach $1.3 Billion by 2026
The Target Drones market in the U.S. is estimated at US$1.5 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2026 trailing a CAGR of 6.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.9% and 5.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.8% CAGR.
Commercial Segment to Reach US$809.2 Million by the year 2026
In the global Commercial segment, USA, Canada, Japan, China and Europe will drive the 5.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$461.7 Million in the year 2020 will reach a projected size of US$682.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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