Expert Quote

“I think these are exciting times. Not considering the buzz around AI, ultimately, it is an enabler to do things at scale and quickly. It needs to serve a higher purpose that provides surgeons or other stakeholders in the healthcare ecosystem with value. The real value that a company provides with AI is the key component. This technology can be leveraged to tackle the disparity in the world of surgery”.

Market Segmentation

• Offering (Hardware and Software-a-a-Service (SaaS))
• Technology (Machine Learning, Deep Learning, Natural Language Processing (NLP), and Other Technologies)
• Indication (Neurotechnology, and Neurosurgery)
• Application (Training, Diagnosis, Surgical Planning and Rehabilitation, Outcomes and Risk Analysis, Integration and Connectivity, and Others)
• End User (Hospitals and Others (Including Ambulatory Surgical Centers, Standalone, and Specialized Facilities))

Regional Segmentation

• North America (U.S. and Canada)
• Europe (Germany, U.K., France, Italy, Spain, Nordic Countries, and Rest-of-Europe)
• Asia-Pacific (Japan, China, South Korea, Australia and New Zealand, India, and Rest-of-Asia-Pacific)
• Latin America (Brazil, Mexico, Argentina, and Rest-of-Latin America)
• Middle East and Africa

Growth Drivers

• Growth in Funding for AI
• Growing Adoption of AI-Enabled Technologies in Healthcare Settings
• Advancement in Robotics and Medical Visualization Technologies
• Benefits of Artificial Intelligence-Enabled Surgeries Over Conventional Surgeries

Market Challenges

• Lack of a Well-Defined Regulatory Framework in Regions
• Limited Studies and Data on the Efficiency of AI in Neurology Operating Rooms

Market Opportunities

• Leverage AI to Enhance Remote Surgical Capabilities
• Leveraging Business Synergies for Capability and Portfolio Enhancement

Key Companies Profiled

Activ Surgical, Inc., Brainomix Ltd, Caresyntax, Inc., DeepOR S.A.S, ExplORer Surgical Corp., Holo Surgical Inc., LeanTaaS Inc., Medtronic Plc, Proximie, Scalpel Limited, and Theator Inc.

Key Questions Answered in this Report:

• How has COVID-19 impacted the adoption of AI in neurology operating room?
• What are the key regulations governing the AI in neurology operating room market in key regions?
• What are the technological developments which are expected to have the maximum influence on the global AI in neurology operating room market?
• Who are the leading players holding significant dominance in the global AI in neurology operating room market currently?
• How do end users of artificial intelligence in operating rooms perceive the technology?
• What are the key business models being followed by the key players in the market?
• What are some of the major factors which are expected to influence the growth in the adoption of AI in neurology operating room across the globe?
• What are the key strategies incorporated by leading players in the global AI in neurology operating room market landscape?
• What is the current revenue contribution for the different product types in the global AI in neurology operating room market, and what are the expected modifications in the forecast period?

Key USPs of the Report

Following are some of the key contents of the report:

• Funding Scenario
This section encompasses a description of the current funding landscape in the global AI in neurology operating room space for key players.

• Patent Scenario
This section encompasses a description of the current patent landscape in the field of AI in the neurology operating room.

• Regulatory Framework
This section comprises information on the regulatory framework for various regulatory bodies associated with granting approval to AI platforms/technologies for application in the neurology operating room.

• Impact of COVID-19
This section of the report encompasses the following:
o Impact on AI adoption in surgery
o Future impact (Short- and long-term)
o Key developments during the COVID-19 pandemic

In addition, the report provides:

• A detailed analysis and growth forecast (2021-2030) for different market segments
• Recent developments and trends in the global market landscape
• Factors promoting and inhibiting the market growth
• Case studies to assess the key strategies adopted by some of the highly funded players in the market

Scope of the Global AI in Neurology Operating Room Market

The purpose of the study is to enable the reader to gain a holistic view of the global AI in neurology operating room market by each of the aforementioned segments.

The report constitutes an in-depth analysis of the global AI in neurology operating room market, including a thorough analysis of the applications. The study also provides market and business-related information on various products, applications, technologies, and end users. The report considers software solutions and hardware solutions integrated with AI.

Key Companies in the Global AI in Neurology Operating Room Market

Some of the key players contributing to the global AI in neurology operating room market include Activ Surgical, Inc., Brainomix Ltd, Caresyntax, Inc., DeepOR S.A.S, ExplORer Surgical Corp., Holo Surgical Inc., LeanTaaS Inc., Medtronic Plc, Proximie, Scalpel Limited, and Theator Inc.

Hospital EMR Systems Market: Market Segments: By Product Type (Inpatient EMR and Outpatient EMR); By Component (Software and Services); By Application (Cardiology, Neurology, Radiology, Oncology and Others); By End-User (Hospital-based EMR and Physician-based EMR); and Region – Global Analysis by Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030

The post Global Artificial Intelligence (AI) in Neurology Operating Room Market: Focus on Offering, Technology, Indication, Application, End User, Unmet Demand, Cost-Benefit Analysis, and Over 16 Countries’ Data – Analysis and Forecast, 2021-2030 first appeared on CRI Report.

Market Segmentation

• Procedure Type– Pre-Natal Screening, Pre-Implantation Genetic Testing, Infertility Genetic Testing, Carrier Screening
• Product Type– Kits, Laboratory Developed Tests (LDT), Reagents and Consumables
• Application Type– Aneuploidy, Single Gene Disorder, Structural Chromosomal Abnormality, Others
• Technology– PCR, Next-Generation Sequencing, In-Situ Hybridization (ISH), Microarray

Regional Segmentation

• North America– U.S., Canada
• Europe– U.K., Germany, France, Italy, Spain, Rest-of Europe
• Asia-Pacific– Japan, China, India, South Korea, Australia, Rest-of-Asia-Pacific
• Latin America– Brazil, Mexico, Rest-of-Latin-America
• Rest-of-the-World

Growth Drivers

• Declining Cost of Genetic Sequencing Technologies
• Increasing Awareness and Acceptance for Genetic Testing and Screening
• Rising Emphasis on Early Detection and Prevention
• Rising Maternal Age Leading to Pregnancy Complications

Market Challenges

• Lack of Regulations
• Ethical and Social Issues

Market Opportunities

• Shifting of Reimbursement Policies toward Enhanced Genetic Testing Coverage
• Rising Funding and Innovations
• Increasing Consumer Demand

Key Companies Profiled

Agilent Technologies, Inc., BGI, CENTOGENE AG, Fulgent Genetics, Inc., F. Hoffmann-La Roche Ltd, Igenomix, Illumina, Inc., Invitae Corporation, Laboratory Corporation of America Holdings, PerkinElmer, Inc., Myriad Genetics, Inc., OPKO Health, Inc., Quest Diagnostics, QIAGEN N.V., Thermo Fisher Scientific Inc.

Key Questions Answered in this Report:

• What are the most common genetic causes of genetic defects at birth globally?
• What are the emerging technologies that can take over the current technologies for genetic testing within the global reproductive genetics market?
• How are the key market players performing research investments in the respective market?
• What are the major strategies opted by the key players for advancing in the global reproductive genetics market?
• What are the regulations pertaining to the reproductive genetics market among different regions and their impact on the respective market?
• What are the initiatives implemented by different government bodies regulating the development and commercialization of reproductive genetic tests and associated platforms?
• How has COVID-19 impacted the global reproductive genetics market?
• How will the urgency of the pandemic influence the global reproductive genetics market?
• What are the leading companies dominating the global reproductive genetics market?
• What is the reimbursement scenario of the tests offered in the global reproductive genetics market?
• Based on the procedure type, which global reproductive genetics market procedure type is anticipated to witness a massive rise in demand in the forecast period 2021-2030?
• How is each segment of the global reproductive genetics market expected to grow during the forecast period, and what is the revenue expected to be generated by each of the segments by the end of 2030?
• How is the global reproductive genetics industry anticipated to evolve during the forecast period 2021-2030?
• What are the leading trends and consumer preferences witnessed in the global reproductive genetics market?

Market Overview

Reproductive genetics is a branch of science that contributes to predicting and preventing a genetic disorder during the reproductive procedure (both natural and artificial). It refers to the genetic tests and procedures that are used to offer prospective parents any needful information about the probabilities of having a child with any specific genetic disorder.

The advancements in genomic technologies and their implementation within clinical medicine have led to an expanded usage such as carrier screening, diagnosis of genetic disorders prior to implantation, and identifying the causes of infertility.

The respective genetic testing helps in analyzing genetic material such as chromosomes, genes, DNA, RNA, and gene products for accessing genetic changes that have a likelihood of causing any genetic disease after pregnancy in either mother or child.

The global reproductive genetics market is poised to have substantial investment and growth as the demand for such testing escalates, reimbursement improves, and the technology expands to additional, novel applications.

There has been steady progress in the demand for various methods of reproductive genetic testing. For instance, there has been a global explosion in the utilization of additional non-invasive prenatal testing (NIPT) and the continuous expansion of upstream preconception testing (PGD/PGS) and downstream neonatal screening and genetic disorder testing. Further, there has been a rise in the availability of next-generation technologies and panels that allow the screening of genetic disorders at an early stage in the fetus during pregnancy. However, some of these tests are often an out-of-pocket expense for patients, but the demand for genetic information, declining cost of sequencing, and rise in mixed-ethnicity population is expected to propel the growth of the market.

Within the research report, the market has been segmented on the basis of procedure type, product type, application type, technology, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.

Competitive Landscape

The global reproductive genetics market consists of numerous large-and small-scale manufacturers and service providers. Presently, with the increasing rate of molecular advancements and the rise in the adoption of genetic tests, there has been an expansion of opportunities for the reproductive genetics market. Some of the strategies opted by the key players within the market are new product offerings, product approvals, partnerships and alliances, mergers and acquisitions, and business expansions.

In the five years (January 2017-February 2021), the market witnessed 23 product offerings, five product approvals, 16 partnerships and alliances, nine mergers and acquisitions, and five business expansions. The increasing awareness for genetic testing with an answer for genetic abnormalities caused has majorly attributed to the growing prominence for reproductive genetic testing.

On the basis of region, North America holds the largest share in the global reproductive genetics market due to improved healthcare infrastructure, rise in awareness, and improvised reimbursement policies in the region. Apart from this, the Asia-Pacific region is anticipated to grow at the fastest CAGR during the forecast period.

The post Global Reproductive Genetics Market: Focus on Procedure Type, Product Type, Technology, Application Type, Country Data (15 countries) – Analysis and Forecast, 2020-2030 first appeared on CRI Report.

• What are the underlying structures resulting in the emerging trends within the global sky-based communication market?
• What is the scope in the market for new OEMs and other players to enter?
• What are the driving and challenging factors and attributing to the growth of the global sky-based communication market?
• Which platform is expected to be leading the global sky-based communication market by 2031?
• What was the market value of the regions in the global sky-based communication market in 2020, and how is the market estimated to grow during the forecast period 2021-2031?
• How is the industry expected to evolve during the forecast period 2021-2031?
• What are the key developmental strategies that are implemented by the key players to sustain the competitive market?

Global Sky-Based Communication Market Forecast, 2021-2031

The global sky-based communication market analysis by BIS Research projects the market to grow at a significant CAGR of 25.53% on the basis of value during the forecast period from 2021 to 2031. North America is expected to dominate the market in 2021 with a share of 38.87%. The North America region includes the U.S. and Canada. The U.S. is expected to acquire a major share in 2021. The growing space and military programs due to a spike in demand for exploring as well as commercialization of sky-based communication systems in the U.S. are going to raise the demand in the market.

The technological development and feasibility of sky-based communication have been significant in the past few years. There are several factors that are contributing to the significant growth of the sky-based communication market. Some of these factors include the increasing number of satellite launches for communication, adoption of new technologies like IoT and AI in satellite communication, and competitive advantage of HAPS over conventional satellite and terrestrial-based systems, among others.

Scope of the Global Sky-Based Communication Market

The global sky-based communication market research provides detailed market information for segmentation such as application, end user, platform, component, and region. The purpose of this market analysis is to examine the global sky-based communication market outlook in terms of factors driving the market, trends, technological developments, and competitive benchmarking, among others.

The report further takes into consideration the market dynamics and the competitive landscape, along with the detailed financial and product contribution of the key players operating in the market.

Global Sky-Based Communication Market Segmentation

While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the application and end users. The report also analyzes different platforms that include satellites, UAVs, and HAPS and components. Furthermore, the study provides cross-segmentation for application.

The global sky-based communication market is segregated by region under four major regions, namely North America, Europe, Asia-Pacific, and Rest-of-the-World. Data for each of these regions (by country) has been provided in the market study.

Key Companies in the Global Sky-Based Communication Industry

The key market players in the global sky-based communication market include Airbus, AeroVironment, General Dynamics, Honeywell International, Hughes Network Systems, Intelsat, Iridium Communications, Lockheed Martin, Cobham, SpaceX, OneWeb, Satcom Global, SKY Perfect JSAT Corporation, SES S.A. Thales, World View Inc., and Zero 2 Infinity, among others.

The post Sky-based Communication Market – A Global and Regional Analysis: Focus on Platform, Component, Application, End User, and Country Analysis
Analysis and Forecast, 2021-2031 first appeared on CRI Report.

Market Segmentation

• Application
o Surgical Robotics
o Medical Simulators

Regional Segmentation

• North America
• Europe
• Asia-Pacific
• Rest-of-the-World

Growth Drivers

• Advancement in Raw Materials for Haptic Technology
• Growing Adoption of Haptic Technology in Surgical Environment

Market Restraints

• Technical Challenges Associated in Implementing Haptic Technology in Medical Devices
• Limitation of Haptic Technology in VR-Based Simulator Systems

Market Opportunities

• Adoption of Vibrotactile Feedback Mechanism in Medical Simulators
• Increasing Research and Development Activities for Wearable Haptic Feedback Devices

Key Companies Profiled

3D Systems Corporation, Force Dimension, Forsslund Systems AB, Haption S.A., Orb Surgical Ltd., and Moog, Inc.

Key Questions Answered in this Report:

• What is the current scenario of the global haptic feedback surgical environment market?
• What is the total market size and forecast (until 2031) for the global haptic feedback surgical environment market?
• What is the addressable market size and forecast based on region?
• What is the future of haptic technology in the healthcare domain?
• What is the analyst’s perspective on the importance of haptic technology?
• What is the technology used for the haptic devices?
• What is the pre-and post-COVID-19 scenario for the minimally invasive surgeries?
• What is the patent filling trend in the last five years for haptic technology?
• What are the key market dynamics (drivers, restraints, and opportunities) for the haptic feedback surgical environment market?
• What is the current total market size and forecast for different application categories available in the global haptic feedback surgical environment market?
• Which application category is anticipated to witness the highest growth rate during the forecast period?
• What is the current total market size and forecast for the global haptic feedback surgical environment market across different regions?
• What is the role of each company in the global haptic feedback surgical environment market?
• What are the strengths, weaknesses, opportunities, and threats for each company in the global haptic feedback surgical environment market?

Overview on the Global Haptic Feedback Surgical Environment Market

The global haptic feedback surgical environment market is expected to grow with a CAGR of 14.6% in terms of market value, during the forecast period 2021-2031. Factors such as growing demand for technological advanced surgical robotic systems and simulators for medical training applications are fueling the growth of the market. The implementation of haptic devices in the healthcare domain is at the nascent stage and it is anticipated that this technology will be significantly adopted in the healthcare domain, especially in minimally invasive surgeries, during the forecast period 2021-2031.

Global Haptic Feedback Surgical Environment Market Forecast

The global haptic feedback surgical environment market was valued at $22.8 million in 2020 and is anticipated to reach $101.4 million by 2031, growing at a CAGR of 14.6%, during the forecast period 2021-2031. Factors such as growing demand for technological advanced surgical robotic systems and simulators for medical training applications are fueling the growth of the market. However, the factors such as low dexterity and a limited workspace of a haptic device can restrict the growth of this market and, implementation of this technology within a medical device is a very complex and technical process.

Competitive Landscape

The global haptic feedback surgical environment market consists of large-scale as well as small-scale manufacturers and vendors. Presently, the manufacturers in the market have ample number of opportunities to expand their offerings and to establish a strong foothold in the market.

There are many companies in the global haptic feedback surgical environment market some which are 3D Systems Corporation, Force Dimension, Forsslund Systems AB, Haption S.A., Orb Surgical Ltd., and Moog, Inc.

The post Global Haptic Feedback Surgical Environment Market – Analysis and Forecast, 2021-2031 first appeared on CRI Report.

Hemodynamic Monitoring Devices Market Segmentation

• Product (Catheters, Sensors, Monitoring System, and Others)
• Modality (Invasive, Minimally Invasive, Non-Invasive)
• Setting (Hospitals, Clinics, Ambulatory Units, Homecare, and Others)

Regional Segmentation

• North America (U.S. and Canada)
• Europe (Germany, U.K., France, Italy, Spain, Nordic Countries, and Rest-of-Europe)
• Asia-Pacific (Japan, China, South Korea, Australia, and New Zealand, India, Singapore, and Rest-of-Asia-Pacific)
• Latin America (Brazil, Mexico, Argentina, Colombia, and Rest-of-Latin America)
• Middle East and Africa (K.S.A., Israel, South Africa, and Rest-of-MEA)

Growth Drivers

• Rising Prevalence of Cardiac Disorders
• Increasing Technology Integration in Hemodynamic Monitoring
• Development of Remote Hemodynamic Monitoring Devices
• Entry of Key Medical Device Companies Through Mergers and Acquisitions

Market Challenges

• Lack of Clinically Validated Evidence for Non-Invasive Hemodynamic Monitoring
• Side-Effects Associated with Invasive Hemodynamic Monitoring

Market Opportunities

• Emergence of Regional Hemodynamic Monitoring Devices Companies
• Development of Patient-Friendly Hemodynamic Monitoring Systems
• Development of Virtual Training Applications for Medical Staff

Key Companies Profiled

Baxter International Inc, Caretaker, LLC, CN Systems Medizintechnik GmbH, Deltex Medical Group PLC, Dragerwerk AG & Co. KGaA, Edwards Lifesciences Corporation, GENERAL ELECTRIC COMPANY, Getinge AB, ICU MEDICAL, INC., Koninklijke Philips N.V., Masimo Corporation, Schwarzer Cardiotek, Sramek BioDynamics Inc., and Uscom Ltd

Key Questions Answered in this Report:

• What has been the impact of COVID-19 on the global hemodynamic monitoring devices market?
• What is the anticipated impact of COVID-19 on the global market in mid-term and long-term duration?
• What are the key technological trends that influence the global hemodynamic monitoring devices market? What is their future potential?
• Who are the emerging players in the global hemodynamic monitoring devices market that have received funding?
• What are the regulations for hemodynamic monitoring devices across various regions?
• How has the patent filing trend influenced the growth of the global hemodynamic monitoring devices market?
• Who are the key players in the global hemodynamic monitoring devices market?
• What are the key synergistic activities employed by the companies operating or entering in global hemodynamic monitoring devices market?
• What are the key drivers and restraints for the global hemodynamic monitoring devices market?
• What are the growth opportunities in the global hemodynamic monitoring devices market? What is the potential of such opportunities in mid-term and long-term duration?
• Which product type is anticipated to grow with the highest CAGR during the forecast period 2021-2030?
• What is the anticipated growth trajectory of minimally invasive and non-invasive modalities of hemodynamic monitoring during the forecast period 2021-2030?
• Which region is anticipated to dominate the global hemodynamic monitoring devices market during the forecast period 2021-2030?
• What is the anticipated growth potential of various end users and modalities in emerging economies such as Asia-Pacific, Latin America, and the Middle East, and Africa?

Key USPs of the Report

Following are some of the key contents of the report:

• Funding Scenario
This section encompasses a description of the current funding landscape in the global hemodynamic monitoring devices market for emerging companies

• Key Technology Trends
This section is intended to aid the readers in identifying the key technological trends and their futuristic growth potential in short-, mid, and long-term duration in the global hemodynamic monitoring devices market.

• Business Model Analysis
This section comprises information on the key business models deployed in the market by leading players.

• Impact of COVID-19
This section of the report encompasses the following:
o Impact on Facilities
o Impact on Remote Monitoring
o Impact on Market Size

In addition, the report provides:

• A detailed analysis and growth forecast (2021-2030) for different market segments
• Recent developments and trends in the global market landscape
• Factors promoting and inhibiting the market growth

Scope of the Global Hemodynamic Monitoring Devices Market

The purpose of the study is to enable the reader to gain a holistic view of the global hemodynamic monitoring devices by each of the segments mentioned above.

The report constitutes an in-depth analysis of the global hemodynamic monitoring devices market, including a thorough analysis of the products, modality, setting, and regional segmentation. The study also provides market and business-related information on various segments.

Key Companies in Hemodynamic Monitoring Devices Market

Some of the key players contributing to the global hemodynamic monitoring devices market include Baxter International Inc, Caretaker, LLC, CN Systems Medizintechnik GmbH, Deltex Medical Group PLC, Dragerwerk AG & Co. KGaA, Edwards Lifesciences Corporation, GENERAL ELECTRIC COMPANY, Getinge AB, ICU MEDICAL, INC., Koninklijke Philips N.V., Masimo Corporation, Schwarzer Cardiotek, Sramek BioDynamics Inc., and Uscom Ltd.

Global Hemodynamic Monitoring Devices Market to Reach $2,156.6 Million by 2030

The post Global Hemodynamic Monitoring Devices Market: Focus on Product, Modality, Setting, and 21 Countries – Analysis and Forecast, 2021-2030 first appeared on CRI Report.

Market Segmentation

• End users – Military, Homeland Security, and Defense Companies
• Applications – Combat Training, Target and Decoy, Target Identification, Target Acquisition, and Others
• Platform – Aerial, Marine, and Ground
• Target type – Full scale, Sub-scaled, and Towed
• Speed of aerial target drones – Subsonic, Transonic, Supersonic, and Hypersonic
• Payloads – Flares, Passive and Active Radar Augmentation, Infrared Augmentation, Electronic Payloads, and Others

Regional Segmentation

• North America – U.S. and Canada
• Europe – U.K., France, Germany, Russia, Rest-of-Europe
• Asia-Pacific – China, Japan, India, and Rest-of-Asia-Pacific
• Rest-of-the-World

Market Growth Drivers

• Increasing Adoption of Unmanned Systems for Military Operations
• Advancements in Military Training to Simulate Real Combat Scenario

Market Challenges

• Lack of Skilled Workforce
• Short Endurance of Target Drones

Market Opportunities

• Growing Defense Budgets of Major Economies
• Rising Deployment of Defense Systems in Emerging Countries

Key Companies Profiled

AeroTargets International LLC, Air Affairs Australia, Airbus S.A.S., Boeing, Denel SOC Ltd., Defence Research and Development Organization (DRDO), Griffon Aerospace, Kadet Defence Systems, Kratos Defense & Security Solutions, Inc., Leonardo S.p.A., Lockheed Martin Corporation, Northrop Grumman, QinetiQ, Robonic Ltd Oy, SCR, Sistemas de Control Remoto

How this Report Helps You Strategize

• Product/Innovation Strategy

The product segment helps the reader in understanding the different types of aerial, ground, and marine target drones and their market potential globally. Moreover, the study provides the reader a detailed understanding of target drones with respect to speed (i.e.,, subsonic, transonic, supersonic, and hypersonic) and target type. Additionally, comprehensive coverage on payloads (qualitative data only) used by target drones for various applications has also been added in the study.

• Growth/Marketing Strategy

Players operating in the global target drone market are developing innovative products to enhance the capabilities of their product offerings. Growth/marketing strategies will help the readers in understanding the revenue-generating strategies adopted by the players operating in the global target drone market. For instance, in December 2020, the U.S. Navy awarded a $57 million contract to Northrop Grumman Corporation to manufacture Coyote supersonic targets. The contract could be worth $250 million for an additional 84 target vehicles in the coming years. Moreover, other strategies adopted by the market players will help the reader in making strategic decisions, such as go-to-market strategies.

• Competitive Strategy

Players analyzed and profiled in the study involve Original Equipment Manufacturers (OEMs) and component providers that capture maximum share in the global target drone market. Moreover, a detailed competitive benchmarking of the players operating in global target drone has been done that will help the reader to understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key questions answered in the Target Drone Market Report

• What are the futuristic trends in this market, and how is the market expected to change over the forecast years 2021-2031?
• What are the key drivers and challenges faced by the companies that are currently working in the global target drone market?
• How is the market expected to grow during the forecast period 2021-2031?
• What are the opportunities for the companies to expand their businesses in the global target drone market?
• Which region is expected to be leading the global target drone market by 2031?
• What are the key developmental strategies implemented by the key players to sustain in this highly competitive market?
• What is the current and future revenue scenario of this market?
• What is the competitive scenario of the key players in the global target drone market?
• What are the emerging technologies that the key companies are focusing on to increase their market share?
• What are the strengths and weaknesses of the companies that are influencing the growth of the market?

Target Drone Technology Market Lifecycle Stage

Target drones are unmanned vehicles that are generally used for the testing and development of military systems, combat training against manned and unmanned threats, and destruction tests on decoys that simulate the behavior of real threats. The target drones are hence used as a cost-effective alternative to the vehicles and systems used by the military forces of numerous countries.

The very first use-case of an aerial target was developed by A.M. Low in 1916; the “Aerial Target” flown using radio control led to the implementation of unmanned vehicles to be used for various applications in the defense industry such as combat training, target and decoy, target identification, target acquisition, and identification of friend or foe.

In the 1920s and 1930s, the remotely piloted target aircraft were used for target practice of battleship guns. Since then, technology has evolved continually and transformed the entire defense industry by developing unique products and systems. The latest trend in the target drones includes completely autonomous systems, hypersonic target drones that are difficult to track and acquire a target. The marine and ground-based technologies are likely to penetrate the niche markets and generate significant revenues in the future.

Target Drone Technology Industry Overview

The target drone technology and products have been used widely by various countries since the second world war. The technological advancements in terms of payload, platform, target type, speed, and mode of operation are driving use for target drones in defense and homeland security sectors in areas including combat training for military personnel, countering cross-border terrorism, smuggling activities, and maritime security.

The global target drone market is estimated to reach $10,433.9 million in 2031, at a compound annual growth rate (CAGR) of 8.77% during the forecast period 2021-2031. The major driving factor for robust of the market will be because of increasing defense budgets by major countries for military modernization and strengthening national security activities.

Impact of COVID-19 on Target Drone Technology Market

The COVID-19 pandemic has restricted the growth of the market as the companies have lowered their research and development funding to develop innovative solutions. The key players in the U.S. and Europe were affected the most during the first wave of the COVID-19 and had to impose strict lockdowns to ensure the safety of their employees. This has affected the manufacturing and development of the target drones. However, with the vaccination process being implemented, the market is expected to grow gradually.

Market Segmentation

Target Drone Technology Market (by Application)

The application segment of the market is further categorized into combat training, target and decoy, target identification, target acquisition, and others. The combat training application is expected to be the front runner in the global target drone market, mainly to train the military personnel and gunnery systems by either destroying expendable drones or virtually eliminating the re-usable target drones with the help of laser technology.

Target Drone Technology Market (by Platform)

The platform segment of the target drone technology market is categorized into aerial, marine, and ground targets. Wherein, Aerial targets are estimated to dominate the global target drone market, due to their unique ability to mimic and simulate actual threats with the help of various payloads such as passive and active radar augmentation, infrared augmentation, and others.

Target Drone Technology Market (by End-user)

The end user market in target drone technology is segmented based on military, homeland security, and defense companies. The military end user segment consisting of the army, navy, and air force is expected to dominate the global target drone market, on account of major focus on military modernization activities for better combat training to increase the efficiency and performance of the personnel.

Target Drone Technology Market (by Region)

The data of major regions covered under the target drone technology includes North America, Europe, Asia-Pacific, and Rest-of-the-World. North America is expected to account for the highest share of the global target drone market, owing to a significant number of companies based in the region, increased spending by government organizations such as the U.S. Department of Defense (DoD) on procurement of drones for military applications.

Key Market Players and Competition Synopsis

Some of the original equipment manufacturers operating in the market include Airbus S.A.S., Boeing, Leonardo S.p.A., Lockheed Martin Corporation, Northrop Grumman, AeroTargets International LLC, Air Affairs Australia, Denel SOC Ltd, DRDO, Griffon Aerospace, Kadet Defence Systems, Kratos Defense & Security Solutions, Inc., QinetiQ, SCR, and Sistemas de Control Remoto, among others.

In addition, there are certain component providers operating in the market, including BAE Systems, General Dynamics Corporation, Raytheon Technologies Corporation, Robonic Ltd Oy, Meggitt Defense Systems, and Safran.

The companies that are profiled in the report have been selected post undergoing in-depth interviews with experts and understanding details around companies such as product portfolio, annual revenues, market penetration, research and development initiatives, and domestic and international presence in the target drone industry. Accordingly, a structured approach is followed which include segmenting pool of players under three mutually exclusive and collectively exhaustive parts, holding a 100% pie of the market.

The post Target Drone Market – A Global and Regional Analysis: Focus on End-User, Application, Platform, Mode of Operation, Speed, Target Type, Payload, and Country – Analysis and Forecast, 2021-2031 first appeared on CRI Report.