Drone Identification System Market to Record an Impressive Growth of USD 94.88 Billion by 2027 : Fior Markets

Newark, NJ, May 16, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The Global Drone Identification System Market is expected to grow from USD 2.37 Billion in 2019 to USD 94.88 Billion by 2027, at a CAGR of 58.6% during the forecast period 2020-2027. Drone identification systems comprise anti-drone systems needed by end-users to detect, classify, and mitigate unmanned aerial vehicles (UAVs) that are a danger to them. The evidence of threats posed by drones will be one of the key factors fuelling the market's growth during the next few years. The recent years observed various incidences where weaponized drones were utilized by terrorist groups to drop explosives.

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The drone identification market is severely driven by the growing terrorists' actions and security breaches across the globe. Terrorist actions now even include usage of drones for capturing images of various parameters in the region of attack. The development of drone identification and their countermeasure techniques have helped defense forces, law enforcement agencies, and homeland securities to detect the enemy drones. Another major factor boosting this market is the mandate issued by the Federal Aviation Administration to spot any drones used for unlawful activities. The main restraint for the market is the risk of surging cyber-attacks, or hijacking.

The market has been segmented on the basic of type, application and region. Type segment includes detection and identification technologies and mitigation technologies. The detection and identification technologies segment held largest market share of 61.25% and valued at USD 1.45 Billion in 2019. Detection and identification of intruding drones is performed by a multi-class classifier designed using deep neural networks (DNN). These system are capable to detect drones and differentiate between the RF spectra of various drones under different flight modes. Application segment includes military and commercial. Military segment held the largest market share of 59.22% and valued at USD 1.40 Billion in 2019. However, commercial segment is expected to grow with highest CAGR of 59.44% during the forecast period. Increasing military expenditure to provide the safety for the country has increased the use of the drone identification system for detecting & identifying all types of drone in the unrestricted areas as well as in the LOCs of the countries. The market has been divided into North America, Europe, China, Japan, Rest of APAC, Latin America, and RoW. North America held the largest market share of 39.55% and valued at USD 935.33 million in 2019.

The market for global drone identification system market is segmented into key players. Major Player includes Blighter Surveillance Systems, Dedrone, DroneShield, HENSOLDT, Lockheed Martin, Raytheon, Thales Group, and among others. Thales Group held the largest market share of 21.53% in 2019.

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About the report:

The global drone identification market is analysed on the basis of value (USD Million). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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