Drone Identification Systems Market to Record Impressive Growth of $94.88 Billion by 2027: Fior Markets

Newark, NJ, May 16, 2022 (GLOBE NEWSWIRE) — According to the report published by Fior Markets, the global market for drone identification systems is expected to grow from USD 2.37 billion in 2019 to USD 94.88 billion by 2027, at a CAGR of 58.6% over the forecast period 2020-2027. Drone identification systems include anti-drone systems needed by end users to detect, classify, and mitigate unmanned aerial vehicles (UAVs) that pose a threat to them. Evidence of the threats posed by drones will be one of the key factors fueling the growth of the market over the coming years. In recent years, there have been various cases where armed drones have been used by terrorist groups to drop explosives.

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The drone identification market is heavily influenced by the increasing terrorist actions and security breaches across the globe. Terrorist actions now even include the use of drones to capture images of various settings in the region of attack. The development of drone identification and countermeasure techniques has helped defense forces, law enforcement and homeland security detect enemy drones. Another major factor driving this market is the mandate issued by the Federal Aviation Administration to track down any drone used for illegal activities. The main brake for the market is the risk of a resurgence of cyberattacks, or hijackings.

The market has been segmented on the basis of type, application and region. The type segment includes detection and identification technologies and mitigation technologies. The detection and identification technology segment held the largest market share of 61.25% and was valued at USD 1.45 billion in 2019. Detection and identification of intruder drones is performed by a multi-classifier classes designed using deep neural networks (DNN). These systems are capable of detecting drones and differentiating the RF spectra of various drones under different flight modes. The application segment includes military and commercial. The military segment held the largest market share of 59.22% and was valued at USD 1.40 billion in 2019. However, the commercial segment is expected to grow with the highest CAGR of 59.44% during the period forecast. The increase in military expenditure to ensure the security of the country has increased the use of the drone identification system to detect and identify all types of drones 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 was valued at USD 935.33 million in 2019.

The market for the global drone identification systems market is segmented into key players. The major player includes Blighter Surveillance Systems, Dedrone, DroneShield, HENSOLDT, Lockheed Martin, Raytheon, Thales Group, among others. The 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 analyzed on the basis of value (USD million). All segments have been analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to obtain key market insights. The study includes Porter’s Five Forces Model, Attractiveness Analysis, Commodity Analysis, Supply, Demand Analysis, Competitor Position Grid Analysis, analysis of distribution and marketing channels.

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About Fior Markets

Fior Markets is a futuristic market intelligence company, helping clients develop their trading strategies and make better decisions using actionable insights. With a transparent pool of information, we meet client objectives, high-level engagements and target potential leads for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market information research reports, including industries such as technology, pharmaceuticals, consumer goods, food and beverages, chemicals, media, materials and many more.

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