Portland, OR, Aug. 10, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global drone defense system market generated $2.13 billion in 2020, and is projected to garner $16.76 billion by 2030, manifesting a CAGR of 26.6% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, key segments, major investment pockets, competitive landscape, value chain, and regional scenario.
Increase in drone related incidents across the globe and emergence of various startups offering drone defense systems fuel the global drone defense system market. However, issues associated with the drone defense related technologies and inefficiencies of counter drone technologies restrain the growth. Nevertheless, advancements in technology in tackling drone swarms and surge in defense expenditure create new opportunities in the next few years.
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Covid-19 Scenario:
- The outbreak of COVID-19 significantly impacted the drone defense system market, due to implementation of several lockdown measures across the globe.
- The outbreak furthermore introduced several challenges for the drone defense system industry including disruptions in the supply chain of raw materials, logistics challenges, and others.
- The drone defense technology manufacturers, on the other hand, had to reduce expansion and R&D investments to survive the decline in revenue and operating performance of the defense industry.
- Several nations are now focusing on vaccination drives. Also, the restriction are getting loosened off in various regions. And, therefore, the industry is expected to recoup soon.
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The global market is segmented on the basis of end user, technology, application, and region. By end user, the military segment accounted for the highest share, holding around two-fifths of the total market share in 2020, and is projected to maintain its leadership status throughout the forecast period. In addition, the same segment is expected to witness the fastest CAGR of 29.5% from 2021 to 2030.
By technology, the countermeassure systems segment accounted for the largest market share in 2020, contributing to nearly two-thirds of the global drone defense system market, and is projected to maintain its dominant share in terms of revenue during the forecast period. Furthermore, the segment is estimated to witness the fastest CAGR of 28.6% from 2021 to 2030.
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By region, Asia-Pacific generated the highest market share in 2020, holding nearly one-third of the total market share, and is projected to maintain its lead position by 2030. Along with this, the region is also projected to witness the highest CAGR of 30.7% during the forecast period. The report also analyzes regions including North America, Europe, and LAMEA.
Leading players of the global drone defense system market analyzed in the research include Leonardo S.P.A., Mistral Solutions Pvt. Ltd., Aaronia AG, Aselsan AS, Blighter Surveillance Systems Ltd., Dedrone, Inc., Droneshield, Hensoldt, Rheinmetall AG, and Rinicom Ltd.
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