Study predicts global antidrone market will reach $1.5 billion by 2023
SEATTLE. The worldwide market for antidrone technology is expected to grow from $342.6 million in 2016 to $1.5 billion by 2023, at a combined annual growth rate (CAGR) of 25.9 percent, between 2017 and 2023, according to new research from MarketsandMarkets.
According to the report, ""Anti-Drone Market by Technology (Laser, Kinetic, And Electronics), Application (Detection And Detection & Disruption), Vertical (Military & Defense, Homeland Security, And Commercial), And Geography - Global Forecast to 2023," the antidrone market is driven by factors such as increased security-breach incidents by unidentified drones, increased terrorism, and illicit activities.
The research found that the military and defense vertical segment captured the largest share of the overall antidrone market in 2016; the study asserts that as the use of drones for border trespassing, smuggling, and spying increases, so will the demand for an efficient antidrone system.
The study predicts that the antidrone market in the areas of detection and disruption systems will grow at the highest CAGR during the forecast period, mainly due to the increasing use of such systems in the military/defense and homeland security sectors, wherein the unauthorized drones entering into the prohibited area of any country are detected as well as disrupted on the spot.