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Anti-Drone Market to Reach $2.3 Billion by 2024, at a CAGR of 28.8%
January 2, 2019 | PRNewswireEstimated reading time: 2 minutes
The anti-drone market is expected to grow from USD 499 million in 2018 to USD 2,276 million by 2024, at a CAGR of 28.8%. 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. Major restraints for this market growth are high R&D expenses and public safety concerns.
The military & defense vertical is expected to account for the largest share of the anti-drone market during the forecast period. The use of drones for border trespassing, smuggling, and spying has increased.
As a result, the military & defense sector is likely to witness increased demand for an efficient anti-drone system in the coming years. Presently, countries are also giving importance to strengthening counter-drone measures to monitor terrorist activities, which would boost the demand for anti-drone systems in the near future.
The market for laser counter-drone systems is expected to grow at the highest CAGR during the forecast period. The Boeing Co. (US), Lockheed Martin Corp. (US), Rheinmetall Defense Electronics GmbH (Germany), and Raytheon Co. (US), among others, have been developing laser-based anti-drone systems. Laser systems mostly find their applications in the military & defense vertical owing to their great speed, significant flexibility, high precision, and low cost per shot.
The anti-drone market in APAC is expected to grow at the highest CAGR of during the forecast period.Major factors contributing to this growth include the development of new technologies in APAC to reduce the growing number of drone-related crimes and several ongoing developments related to anti-drone systems by regional players.
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 rising incidences of security breaches by unidentified drones and increasing terrorist attacks in the Americas, especially in the US.
Breakdown of the profile of primary participants:
- By Company Type: Tier 1 = 55 %, Tier 2 = 20%, and Tier 3 = 25%
- By Designation: C-Level Executives = 35%, Directors = 25%, and Others = 40%
- By Region: Americas = 40%, Europe = 20%, APAC = 30%, and RoW = 10%
Major players in the anti-drone market include Thales Group (US), Blighter Surveillance Systems Ltd. (UK), Lockheed Martin Corp. (US), Saab AB (Sweden), Raytheon Co. (US), Dedrone (US), Israel Aerospace Industries Ltd. (Israel), Security and Counterintelligence Group (SCG) LCC (Switzerland), DroneShield Ltd. (Australia), Liteye Systems, Inc. (US), Theiss UAV Solutions, LLC (US), BSS Holland BV (Netherlands), and Prime Consulting & Technologies (Denmark).
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