Rising concerns of security breaches by commercial drones and investments in drone identification technologies are the key factors that are expected to drive the drone identification market during the forecast period”
The drone identification market is estimated to grow from USD 801.8 million in 2016 to USD 15,968.2 million by 2022, at a CAGR of 64.64% during the forecast period. Key factors that are expected to fuel the growth of the drone identification market include rising concerns of security breaches by commercial drones, development of advanced network-based detection systems, and increasing investments in drone identification technologies. However, factors such as vulnerability of drones to hacking and airspace traffic management may act as restraints to the growth of the drone identification system market.
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“Based on technology, the identification & detection segment is expected to lead the drone identification market during the forecast period”
Based on technology, the identification & detection segment is estimated to lead the drone identification market during the forecast period. Identification & detection has become a critical factor in safeguarding security. It primarily involves identification and detection of drones. With increasing concerns related to unidentified drones entering public and private premises, the identification & detection technology has become a necessity.
“Based on end user, the commercial segment of the drone identification market is projected to grow at the highest CAGR during the forecast period”
Based on end user, the commercial segment of the drone identification market is projected to grow at the highest CAGR during the forecast period. Countries where drones are sold most face the issue of privacy and safety while balancing the potential benefits resulting from commercial or private use of drones. To address these concerns, drone identification systems can be used to resolve such issues, thereby providing a scope for growth to the drone identification market in commercial application.
“Drone identification market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period”
The drone identification market in Asia-Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. Rise in military budget (of both, defense and homeland security) for the procurement of advanced defense systems is expected to fuel the growth of the APAC drone identification system market.
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analyses — industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss basic views on competitive landscape, emerging and high-growth segments of the drone identification system market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information about drone software offerings of top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the drone identification market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the markets for drone identification systems across regions
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