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Report: Anti-Drone Market Growing At A CAGR Of 28.8 Percent
30 July 2019
Expected To Reach $2.2 Billion By 2024
According to the new market research report on "Anti-Drone Market by Technology (Laser, Kinetic, and Electronics), Application (Detection, Detection & Disruption), Vertical (Military & Defense, Homeland Security, and Commercial), and Geography - Global Forecast to 2024", published by MarketsandMarkets, the Anti-Drone Market is expected to grow from $499 million in 2018 to $2,2 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 28.8 percent. Major factors driving the growth of this market are rising incidences of security breaches by unidentified drones and increasing terrorism and illicit activities across the world.
The detection and disruption application is likely to continue to account for a larger share of the anti-drone market during the forecast period. The growth is attributed to increased number of terrorist groups, which are demonstrating the ability to operate a wide range of drones, including armed systems. Furthermore, detection and disruption systems have major applications in the military & defense and homeland security verticals wherein the entry of any unauthorized drone in the prohibited area of a country is detected, and then, the drone is disrupted on the spot.
The anti-drone market for the commercial vertical is expected to grow at the highest CAGR during the forecast period. Key factors responsible for this growth include increased awareness and rapid development of inexpensive drones in the market. Drones are evolving beyond their military origin to become powerful business tools. They have already made the leap to the consumer market, and now they are being put to work in commercial applications such as firefighting, mining, surveying, and farming, among others.
The Americas is likely to account for a major share of the global anti-drone market during the forecast period. Factors contributing to the growth of this market include increasing incidences of security breaches by unidentified drones and rising number of terrorist attacks in American countries, especially in the U.S.. The dramatic growth in drone accidents and incidences has raised fundamental questions about national security, public safety, privacy regulations. This compelled the government to deploy anti-drone systems to ensure safety and security from illicit drones. The growth can also be attributed to the presence of several key players in this region, such as Airbus Defence and Space (U.S.), Battelle Memorial Institute (U.S.), Department 13 International Ltd. (U.S.), DeTect, Inc. (U.S.), and Lockheed Martin Corp. (U.S.).
(Source: MarketsandMarkets news release.)https://www.marketsandmarkets.com/r...p;utm_medium=Referral&utm_campaign=PaidPR