Research and Markets has released the results of a new piece of research – Target Drones Market by Engine Type, End-user, Platform, Target Type and Region – Global Forecast to 2022 – which reveals that the target drones market is projected to grow from US$3.79 billion in 2016 to US$6.20 billion by 2022, at a CAGR of 8.55%.
An increasing demand of target drones in militaries around the world is cited as a key factor expected to drive the growth of the market.
Defence is estimated to be the largest segment of the target drones market, since target drones are increasingly used for anti-aircraft, anti-missile and anti-submarine military purposes in the defence sector. Target drones are also used for missile and weapon calibration testing.
The geographical analysis of Research and Markets covers regions including North America, Europe, Asia-Pacific and MENA (Middle East & North Africa).
North America is estimated to lead the global target drones market in 2016, owing to the increasing defence expenditure in training programmes and the rise in budget allocated for procurement of target drones in the country.
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