LONDON--(BUSINESS WIRE)--The new counter unmanned aerial vehicle defense system market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.
Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the counter unmanned aerial vehicle defense system market.
"One of the primary growth drivers for this market is the Increased Focus toward Electronic Warfare,” says a senior analyst for the Industrials industry at Technavio.
Electronic warfare (EW) is the new-age war zone and countries are increasing their focus on strengthening their electronic attack capabilities. This involves the development of systems that can attack through noise jamming, decoys, deceptive jamming, and high-speed anti-radiation. The US military is dominating battlefields with electronic warfare vehicles such as UAVs for both reconnaissance and armed missions. Other military bodies across the globe are also acquiring UAVs or are focusing on developing them indigenously. In addition to intelligence, surveillance, and reconnaissance (ISR) missions, these UAVs are largely used for launching attacks on critical infrastructures including monuments, vital facilities, and military bases.
As the markets recover, Technavio expects the counter unmanned aerial vehicle defense system market size to grow by USD 580.12 million during the period 2020-2024.
Counter Unmanned Aerial Vehicle Defense System Market Segment Highlights for 2020
- The counter unmanned aerial vehicle defense system market is expected to post a year-over-year growth rate of 9.41%.
- Factors such as the detection of UAVs within the area under threat and the capability to neutralize attack capabilities will contribute to the growth of the segment in the coming years.
- Moreover, the utilization of cheaper electronic countermeasures in the present UAV detection and disruption systems also increases their demand in this global market.
- Market growth in this segment will be slower than the growth of the market in the detection and disruption system segment.
- 50% of the growth will originate from the North America region.
- The rapid deployment of modern systems on battlefields and the developments of counter UAV defense systems in the region ranging from electronic countermeasures to laser technologies will significantly drive counter unmanned aerial vehicle defense system market growth in this region over the forecast period.
- The US is one of the key markets for counter unmanned aerial vehicle defense system in North America. Market growth in this region will be faster than the growth of the market in MEA and South America.
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- The counter unmanned aerial vehicle defense system market size is expected to accelerate at a CAGR of about 10% during the forecast period.
- The counter unmanned aerial vehicle defense system market is segmented by Type (Detection systems and Detection and disruption systems) and Geography (North America, APAC, Europe, South America, and MEA).
- The market is concentrated due to the presence of a few established vendors holding significant market share.
- The research report offers information on several market vendors, including Aaronia AG, Airbus SE, CACI International Inc., Blighter Surveillance Systems Ltd., Leonardo Spa, Lockheed Martin Corp., Raytheon Technologies Corp., Saab AB, SRC Inc., and Thales Group.
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