Abstract: An improved aerial gunnery target and reel system is provided which includes an aerial target, a housing affixable to an airframe, a cable spool secured for rotation in the housing, with cable wound therearound and connected to the target, a reel powering and control mechanism in the housing and a target launcher assembly in the housing. The launcher assembly includes a launcher arm extending from the housing, releasably secured to the target and movable with the target between a compact, protected target stored position and a target launch position where the target is exposed to the air slipstream during operation of an aircraft to which the system is connected. The arm rotates or telescopes between the two positions. The launcher assembly also includes a powering mechanism such as a pneumatic or hydraulic ram or an electric motor which moves the arm and attached target between the two positions. Such powering mechanism also operates a locking device to lock the arm to and unlock it from the target.