At 14.7% CAGR, Counter UAV Market Size to hit US$ 5,021.57 Mn, Globally, by 2028 - The Insight Partners
"Counter UAV Market Forecast to 2028" is a specialized & in-depth study of the aerospace & defense industry with special focus on global market trend analysis.
NEW YORK, UNITED STATES, UNITED STATES, November 25, 2022 /EINPresswire.com/ -- According to the latest research report on Counter UAV Market Size, Revenue, Global Analysis and Forecast to 2028, the market is projected to reach US$ 5,021.57 million by 2028 from US$ 1,921.55 million in 2021; it is expected to grow at a CAGR of 14.7% from 2021 to 2028.
The rising terrorist attacks and political instability among various developed and developing countries are increasing the defense and homeland security forces to procure advanced solutions such as radar systems, communication systems, and anti-drone technologies. For instance, the US department of defense, the European Union, and other authorities such as the Indian defense ministry has increased their spending on the procurement of anti-drone over the years, leading the counter UAV manufacturers to adopt organic and inorganic growth strategies, such as high investments, product offerings, and global expansion.
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A few players operating in the global counter UAV market profiled in the market study include Blighter Surveillance System Ltd, Dedrone, DroneShield, Israel Aerospace Industries Ltd., Leonardo S.P.A., Lockheed Martin Corporation, Rafael Advanced Defense Systems Ltd., Raytheon Technologies Corporation, SRC Inc. and Thales Group.
The counter UAV market is segmented on the basis of technology, force type, product type, configuration, end user, and geography. Based on technology, the counter UAV market is segmented into laser systems, kinetic systems, and electromagnetic systems. Based on force type, the counter UAV market is categorized into air, land, and naval. By product type, the counter UAV market is bifurcated into ground based and handheld. On the basis of configuration, the counter UAV market is divided into portable and stationary. Based on end user, the counter UAV market is further split into defense and homeland security. On the basis of geography, the counter UAV market size is primarily segregated into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America.
The development and deployment of counter UAV solutions in India and South Korea have experienced a rise in 2021. Following a drone attack on an Indian Air Force (IAF) station in Jammu, the Indian defense force planned to purchase ten anti-drone systems in July 2021 to prevent future attacks in border areas. Similarly, in June 2021, the South Korean military announced plans to begin six-month testing of a new radar-linked system built locally to combat small and micro unmanned aerial vehicles (UAVs), particularly those threatening military sites. The COVID-19 marginally impacted the counter UAV market in 2020 from the supply side, but the market was stabilized and started witnessing a growth trend from Q3 of 2020.
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In 2020, North America accounted for the largest share in the global market, followed by Europe and APAC. In February 2021, The Department of National Defence (DND) of Canada published a Request for Information (RFI) seeking technology solutions that include the capacity of Counter Unmanned Aerial Systems (C-UAS). DND and the Canadian Armed Forces are looking for innovative scientific and technological solutions to meet Canada's classified military and security concerns through a classified call for proposal procedure, according to a request for information issued by Canada's Public Works department. Similarly, the US department of defense has major investment pipelines for procuring counter UAV solutions in the financial year 2022. The factors mentioned above contribute to the rapid growth of the market in the region.
Several government bodies across the globe invested a substantial amount in the procurement of defense equipment despite experiencing economic turmoil. The global military spending increased by 2.6% in 2020 compared to 2019, according to SIPRI. The counter UAV market in 2020 and 2021 underwent high adoption from several global air, land, and naval forces. However, supply chain disruptions across the globe caused by the significant spread of the COVID-19 impacted the counter UAV system supplies in 2020. On the contrary, with the normalization of the supply chain across the globe, the counter UAV market growth started to revive from its impact post Q2 of 2020.
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Players operating in the counter UAV market are mainly focused on the development of advanced and efficient products.
In 2021, Leonardo SPA integrated USAF Research Labs NINJA Technology in RAFs counter drone system ORCUS at RAF Spadeadam electronic fighting strategies office in Cambria.
In 2021, the British Ministry of Defense employed Rafaels Drone Dome to defend the G7 Summit from UAV threats
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