According to the Astute Analytica study on the global Drone Detection Optical Systems Market, the size of the market will increase from US$ 166.8 Million in 2020 to US$ 1,039.2 Million by the year 2027, registering a remarkable compound annual growth rate (CAGR) of 30.3% from 2022 to 2027.
The report’s segmentation section focuses on each category while also identifying those with the greatest influence on the Drone Detection Optical Systems Market. The segmentation provided the framework for locating businesses and assessing their financial health, product portfolios, and potential for future growth. In order to forecast the level of competition, the second step involved analyzing the core competencies and market shares of leading companies. To determine the size of the market as a whole, a bottom-up approach was adopted.
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The vulnerability of drones to hacking, hijacking, spoofing, and cloud-based attacks are expected to negatively hamper the market growth. In addition to this, the development of a cost-effective drone detection optical system is expected to pose a challenge to the market growth. Owing to delayed purchases, customer personnel restrictions, and disruptions in the supply chain during the COVID-19 pandemic, the market experienced a decline in its revenue.
Rising incidents of security breaching
The demand and usage of drones are rapidly increasing, and along with it the number of security breaches is also rising, especially at infrastructures with high importance. Antinuclear groups, terrorists, and business competitors are amongst the most common security breaches. These threats are expected to increase the demand for drone detection optical systems, hence boosting the market growth.
Growing use of monitoring and surveillance equipment across industry verticals
Surveillance and monitoring equipment are being highly adopted in various industry verticals. These include commercial businesses, construction security, critical infrastructure, education, government, healthcare, hospitality, industrial, manufacturing, property management, restaurants, retail, security guards, transportation, and warehouse, among others. All these applications are increasing the demand for drone detection optical systems, hence boosting the market growth.
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The global drone detection optical systems market is segmented into components and applications.
- Hardware (Equipment)
The hardware segment is expected to grow owing to its high demand for manufacturing of the drone detection optical systems. Moreover, huge investments by major players across the globe for the development of these systems are also expected to contribute to market growth.
- Homeland Security
- Civilian/ Commercial
- Energy & Utilities
- Critical Infrastructures
- Data Centers
- Other Public Venues
The homeland security segment is expected to hold the largest market share of about 50% owing to the rising demand for drone detection optical systems for homeland security purposes. Within the civilian/commercial segment, the residential segment is expected to grow at a CAGR of 31.2% and the data center segment is expected to surpass a market volume of about 331 units by 2027.
On a regional basis, the global drone detection optical systems market is segmented into North America, Europe, Japan, and the Rest of the World.
The Japan region held the largest market share of about 38% owing to the presence of major players in the region and demand for drone detection optical systems for security purposes. The North American and European regions are also expected to grow at significant rates during the projected period owing to the rising government initiatives for the adoption of these systems in the military.
Key players operating in the global drone detection optical systems market include Aaronia AG, Advanced Protection System, ApolloShield, Aselsan, Avnon Group, Centum, CerbAir, SAS, Citadel Defense, Convexum, Counter Drone Solutions, Dedrone Holdings, Inc., Delft Dynamics, DeTect, Inc., D-Fend Solutions A.D. Ltd., Diehl Defence, Drone Detect Sys, DRONESHIELD, ESG, Fujifilm Corp, Guard From Above BV, HP Wust, IGP bv, Lockheed Martin, MyDefence Communication, OpenWorks Engineering, Operational Solutions (UK), QinetiQ, Raytheon, Robin Radar Systems, Rohde & Schwarz, Squarehead Technologies, SRC, Inc., TeleRadio Engineering Pte Ltd., TRD Consultancy Pte Ltd., and UAV Coach, among others.
The cumulative market share of the eight major players is near about 58%. These market players are involved in collaborations, mergers & acquisitions, and new product launches to strengthen their market presence. For instance, in March 2021, Aaronia AG launched the new version of the IsoLOG 3D Mobile. The version is known as IsoLOG 3D Mobile 9080 PRO and comes with an extended frequency range. It enables the measurement of signals up to 8GHz and can be used for WiFi6.
The global Drone detection optical systems market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Drone detection optical systems market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global Drone detection optical systems market report answers questions such as:
- What is the market size and forecast of the Global Drone detection optical systems Market?
- What are the inhibiting factors and impact of COVID-19 on the Global Drone detection optical systems Market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the Global Drone detection optical systems Market?
- What is the competitive strategic window for opportunities in the Global Drone detection optical systems Market?
- What are the technology trends and regulatory frameworks in the Global Drone detection optical systems Market?
- What is the market share of the leading players in the Global Drone detection optical systems Market?
- What modes and strategic moves are considered favorable for entering the Global Drone detection optical systems Market?
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