Dublin, April 01, 2022 (GLOBE NEWSWIRE) -- The "Counter UAV Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology, Force Type, Product Type, Configuration, and End Users" report has been added to ResearchAndMarkets.com's offering.
The counter UAV market is projected to reach US$ 5,021.57 million by 2028 from US$ 1,921.55 million in 2021; it is expected to grow at a CAGR of 14.7% from 2021 to 2028.
The global defense sector is increasingly witnessing a rise in asymmetric warfare, and due to this, the governments across developed and developing economies emphasize soldier modernization. The initiatives toward modernizing soldiers include equipping them with advanced combat capabilities, including modern vehicle fleets and countermeasure solutions.
The counter UAV systems are among the critical components of soldier modernization among the majority of defense forces. Various military bodies across both developed and developing countries over the years have increased their spending in the procurement of counter UAV systems.
The demand for counter UAV systems is expected to continuously grow over the years, as the threat of UAV-based attacks continue to rise. The rise in the manufacturing of small and easily affordable drones also increases the market demand, thereby boosting the counter UAV market growth.
COVID-19 Impact on Counter UAV Market
Due to the COVID-19 outbreak, the manufacturing units across North America were temporarily shut to combat the virus's rapid spread. However, defense sector being of the critical industries of any economy experienced a continuous supply of their products. Defense equipment manufacturing is one of the essential services that was impacted partially due to disrupted raw material supply.
The US defense also placed orders for anti-drone systems and experimented with implementing the same in their operations. For instance, in September 2021, the US Navy adopted anti-drone systems developed by Northrop Grumman to counter the rise in UAVs' use. This high demand and rise in manufacturing of counter UAV solutions across the region are positively impacting the growth of the market.
APAC is expected to grow with the highest CAGR over the forecast period. APAC is characterized by developing nations looking to stamp their authority worldwide by developing powerful military units. China and India are some of the leading nations that have focused on strengthening their military over the years across the region.
Setting up arms and armaments manufacturing bases in the country and enhancing the quality of equipment used for army support has been a long-going responsibility of the respective governments. Apart from this, there have been growing political tensions among neighbouring countries such as India, China, and Pakistan. The strengthening of defense fleet size of various countries, such as China and India, is driving the counter UAV market growth.
A few players operating in the global counter UAV market profiled in the market study include Blighter Surveillance Systems Ltd, DroneShield, DeDrone, Leonardo S.P.A., and Lockheed Martin Corporation.
Key Market Dynamics
Market Drivers
- Increase in Investment by Military Forces towards Counter UAV Systems
- Rising Adoption Kinetic Counter UAV Systems
Market Restraints
- Low Adoption among Developing and Underdeveloped Countries
Market Opportunities
- Strategic Initiatives by Major Players
Future Trends
- Integration of Technologies for the Development of UAV based Anti-Drone
Company Profiles
- Blighter Surveillance System Ltd
- Dedrone
- DroneShield
- Israel Aerospace Industries Ltd.
- Leonardo S.P.A.
- Lockheed Martin Corporation
- Rafael Advanced Defense Systems Ltd.
- Raytheon Technologies Corporation
- SRC, Inc.
- Thales Group
For more information about this report visit https://www.researchandmarkets.com/r/gq8hck
Attachment
