The growing security threat posed by unauthorized drones is driving demand for advanced anti-drone technology. Anti-drone systems utilize radio frequency sensors, cameras equipped with radar or electro-optical/infrared technology and utilize artificial intelligence for identification and neutralization. They allow both detection of rogue drones within restricted airspace and ability to disrupt drone control signals or GPS navigation. With increasing incidents involving drones in sensitive areas, anti-drone systems are becoming essential for critical infrastructure facilities, public venues, military bases and government buildings to prevent security breaches and ensure public safety.
The global anti-drone market is estimated to be valued at US$ 1720.13 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the anti-drone market is the increased adoption of AI and machine learning capabilities. Leading manufacturers are focusing on developing anti-drone systems integrated with advanced deep learning algorithms for accurate identification of drones. AI helps analyze drone flight patterns, detect anomalies and also facilitates autonomous decision making. It allows anti-drone defenses to rapidly adapt to new types of drones and drone behaviors. The incorporation of AI is expected to make anti-drone systems more effective in responding to dynamic security threats posed by advanced drones. This trend is anticipated to significantly support the growth of the market over the forecast period.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate as the ANTI-DRONE market requires significant capital investment and expertise. However, the emergence of new technologies can enable new players to enter the market.
Bargaining power of buyers: The bargaining power of buyers is moderate as the ANTI-DRONE systems have differentiated applications and there are numerous providers. However, large buyers can negotiate better prices and terms.
Bargaining power of suppliers: The bargaining power of suppliers is low as there are numerous component manufacturers and providers. Suppliers do not have pricing leverage over big ANTI-DRONE companies.
Threat of new substitutes: The threat of substitutes is low as ANTI-DRONE systems have distinct applications compared to alternatives. Their functionalities cannot be easily substituted.
Competitive rivalry: The competitive rivalry is high given the presence of numerous global and regional players competing on product innovation, features, and pricing.
Key Takeaways
The Global ANTI-DRONE Market Size is expected to witness high growth over the forecast period due to rising instances of drone misuse and security threats. The market size for 2024 is projected to reach US$ 1720.13 Bn indicating significant opportunities.
Regional analysis: North America dominated the global ANTI-DRONE market in 2023 accounting for over 35% of revenues owing to stringent regulations and extensive defense spending. Asia Pacific is anticipated to witness the fastest growth due to increasing adoption across countries like China and India.
Key players: Key players operating in the ANTI-DRONE market include IBM Corp., Figbytes Inc., Schneider Electric, Gensuite LLC, SAP SE, Envizi, ICONICS, Inc., Ecova, Inc. Urjanet, Verisae, Inc., Thinkstep, UL EHS Sustainability, Enablon, Sphera, CA Technologies, and Accuvio. Players compete based on innovation, features, and reliability of offerings. Partnerships are also playing a critical role in business expansion.
For more Insights, Read –
https://www.newswirestats.com/anti-drone-market-size-market-share-analysis/
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