March 28th, 2023
The global anti drone market size was USD 1.34 billion in 2021. The market is projected to grow from USD 1.58 billion in 2022 to USD 6.95 billion in 2029, exhibiting a CAGR of 23.55% during the forecast period.
This information is provided by Fortune Business Insights, in its report titled, “Anti Drone Market, 2022-2029.”
Interdiction Segment to Be the Fastest Growing Segment Due to Development of Advanced Technology to Counter Drones
By method, the market is segmented into detection and interdiction. Among these, the detection segment dominated the global anti drone market share in 2021. Detection segment held the largest market share in 2021.
Rise in Use of High Energy Lasers Will Propel the Market Growth
Based on technology, the market is classified into RF analyzer, acoustic sensor, optical sensor, radar, RF jammer, GPS spoofer, high power microwave device, nets and guns, and high energy lasers. The RF jammer segment accounted for the largest market share in 2021.
Rise in Ground Based Systems to Propel the Growth of the Segment
Based on platform, the market is segmented into ground based, UAV, and handheld. The ground-based segment accounted for the highest market share in 2021.
Browse Detailed Summary of Research Report:
The report offers a detailed study of the market and a keen examination of the major segments of the market. It provides an in-depth analysis of key players and their insightful strategies to spur the market growth for monetary gains. It also shares tangible insights which guide business owners with their investment perspective. The regional dynamics and how they shape the market in an upward curve are presented in the following report. Moreover, COVID-19 impacts have been added for additional information and how it is expected to affect the demand for the product in the near future.
Drivers and Restraints:
Increasing Defense Spending by Governments to Drive the Anti Drone Market Growth
More anti drone systems will be required in the future to combat rogue drones, as the conflict in Ukraine has revealed. The U.S. Department of Defense has budgeted USD 668 million for counter drone technology development and USD 78 million for the purchase of such technology by the end of the following year.
The Indian armed forces have given new orders totaling USD 1.5 billion to Indian businesses for counter drone technologies. Additionally, a contract for a domestic counter drone naval system was signed by the Indian Navy with Bharat Electronics Limited (BEL).
North America to Dominate Backed by the Presence of Key Players
In 2021, the market was led by North America. The North America market was value at USD 0.44 billion in 2021 and is anticipated to expand at a moderate CAGR during the anticipated period. Key participants in the military industry's presence have been credited with the growth.
Due to increased investment in anti-drone technology and rising defense expenditures, the market in the Asia Pacific region is anticipated to develop at the greatest CAGR over the forecast period. The category is anticipated to rise as a result of the region's increased international border protection and airport security measures.
Increased investment in defense-related upgrading and the purchase of cutting-edge defense systems from other regional nations are both credited with contributing to Europe's economic prosperity.
Key Players Sign Significant Contracts to Make Remarkable Changes in Market
The players operating in the market often employ numerous tactics that will aid the market growth and product demand. Among the pool of strategies, one such notable strategy to expand the business prospect is signing multimillion contracts with government bodies and securing a profitable revenue for their own company.
Key Industry Development:
September 2021: The Indian Navy engaged in a deal with Bharat Electronics Limited (BEL) for supply of indigenous comprehensive naval anti drone system with hard kill as well as soft kill capabilities.
List of Key Players Mentioned in the Report:
Raytheon Technology Corporation (U.S.)
Lockheed Martin Corporation (U.S.)
Israel Aerospace Industries (U.S.)
Detect Inc (U.S.)
Dedrone Holdings Inc. (U.S.)
Liteye Systems Inc. (U.S.)
Elbit Systems Ltd. (Israel)
SaaB AB (Sweden)
Thales Group (France)
Add ashwini.b to your subscriptions feedashwini.b