LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global drone identification systems market to grow at a CAGR of more than 24% during the period 2018-2022, according to their latest report.
The technological advances in drone identification systems is a major trend being witnessed in the market. As the market gains traction during the forecast period, it is expected that the vendors will focus on the technological advances and invest their R&D efforts on them to attain a competitive advantage over other players. Focusing on these factors can help both incumbent and emerging players in formulating their business strategies and carrying out the planning for product development in a more efficient manner.
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In this report, Technavio analysts highlight the evidence of threats posed by drones as a key factor contributing to the growth of the global drone identification systems market:
Evidence of threats posed by drones
The past decade has seen an awareness about the possible threats of drones such as misuse by various terrorist, criminal, insurgent, and activist groups. This has led to an increase in the demand for systems, which help in the detection and deterring of threats caused by drones. Among recent incidents is the use of weaponized drones by the ISIS in Iraq and a case of explosives-dropping using the DJI Phantom drone. Apart from this, there are several allegations of drones being used as spying tools and invading the privacy of individuals. The threat of privacy affects not only people but also organizations.
According to a senior analyst at Technavio for robotics, “Apart from dangers to individuals, commercial drones also pose a significant danger to aircraft. This is because, if drones are near an aircraft, they can be sucked into the aircraft turbine, thereby causing significant damage to propulsion systems. As the use of drones in public spaces and by hostile groups such as criminal and terrorist organizations increases, the adoption of drone identification systems will increase. The global drone identification systems market will gain traction as military and civilian end-users increasingly adopt them for ensuring the safety of sensitive zones.”
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Global drone identification systems market segmentation
This market research report segments the global drone identification systems market into the following end-users (military and commercial) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major end-users, the military segment held the largest market share in 2017, accounting for more than 71% of the market. This end-user segment will dominate the market throughout the forecast period.
The Americas was the leading region for the global drone identification systems market in 2017, accounting for a market share of more than 56%. EMEA and APAC followed the Americas. The APAC region is expected to post significant growth when compared with the other regions.
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