Dublin, Aug. 31, 2021 (GLOBE NEWSWIRE) -- The "Global Drone Detection Optical Systems Market, By Component (Hardware (Equipment)), By Application (Military, Homeland Security, Civilian/Commercial (Airports, Residential, Stadiums, Data Centers, Others)), Estimation & Forecast, 2017 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global drone detection optical systems market held a market value of USD 166.8 Million in 2020 and is forecasted to reach USD 1,039.2 Million by the year 2027. The market is anticipated to witness a growth rate of 30.3% over the forecast period. The market volume is expected to reach about 13,153 Units by 2027.
The market is expected to be driven by the increasing incidents of security breaching and the rise in the use of surveillance & monitoring equipment among industry verticals. Furthermore, the requirement of developing versatile and scalable anti-drone systems is also expected to boost market growth.
The vulnerability of drones to hacking, hijacking, spoofing, and cloud-based attacks are expected to negatively hamper the market growth. In addition to this, the development of a cost-effective drone detection optical system is expected to pose a challenge to the market growth. Owing to delayed purchases, customer personnel restrictions, and disruptions in the supply chain during the COVID-19 pandemic, the market experienced a decline in its revenue.
Rising incidents of security breaching
The demand and usage of drones are rapidly increasing, and along with it the number of security breaches is also rising, especially at infrastructures with high importance. Antinuclear groups, terrorists, and business competitors are amongst the most common security breaches. These threats are expected to increase the demand for drone detection optical systems, hence boosting the market growth.
Growing use of monitoring and surveillance equipment across industry verticals
Surveillance and monitoring equipment are being highly adopted in various industry verticals. These include commercial businesses, construction security, critical infrastructure, education, government, healthcare, hospitality, industrial, manufacturing, property management, restaurants, retail, security guards, transportation, and warehouse, among others. All these applications are increasing the demand for drone detection optical systems, hence boosting the market growth.
The hardware segment is expected to grow owing to its high demand for manufacturing of the drone detection optical systems. Moreover, huge investments by major players across the globe for the development of these systems are also expected to contribute to market growth.
The homeland security segment is expected to hold the largest market share of about 50% owing to the rising demand for drone detection optical systems for homeland security purposes. Within the civilian/commercial segment, the residential segment is expected to grow at a CAGR of 31.2% and the data center segment is expected to surpass a market volume of about 331 units by 2027.
The Japan region held the largest market share of about 38% owing to the presence of major players in the region and demand for drone detection optical systems for security purposes. The North American and European regions are also expected to grow at significant rates during the projected period owing to the rising government initiatives for the adoption of these systems in the military.
The cumulative market share of the eight major players is near about 58%. These market players are involved in collaborations, mergers & acquisitions, and new product launches to strengthen their market presence. For instance, in March 2021, Aaronia AG launched the new version of the IsoLOG 3D Mobile. The version is known as IsoLOG 3D Mobile 9080 PRO and comes with an extended frequency range. It enables the measurement of signals up to 8GHz and can be used for WiFi6.
Key Topics Covered:
Chapter 1. Research Framework
1.1 Research Objective
1.2 Product Overview
1.3 Market Segmentation
Chapter 2. Research Methodology
2.1 Qualitative Research
2.2 Quantitative Research
2.3 Breakdown of Primary Research Respondents, By Region
2.4 Assumption for the Study
2.5 Market Size Estimation
2.6. Data Triangulation
Chapter 3. Executive Summary: Global Drone Detection Optical Systems Market
Chapter 4. Global Drone Detection Optical Systems Market Overview
4.1. Industry Value Chain Analysis
4.2. Industry Outlook
4.3. PESTLE Analysis
4.4. Porter's Five Forces Analysis
4.5. Market Dynamics and Trends
4.6. Covid-19 Impact Assessment on Market Growth Trend
4.7. Market Growth and Outlook
4.8. Competition Dashboard
Chapter 5. Drone Detection Optical Systems Market Analysis, By Component
5.1. Key Insights
5.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
Chapter 6. Drone Detection Optical Systems Market Analysis, By Application
Chapter 7. Drone Detection Optical Systems Market Analysis, By Region/Country
Chapter 8. North America Drone Detection Optical Systems Market Analysis
Chapter 9. Europe Drone Detection Optical Systems Market Analysis
Chapter 10. Japan Drone Detection Optical Systems Market Analysis
Chapter 11. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
Advanced Protection System
Counter Drone Solutions
Dedrone Holdings, Inc.
D-Fend Solutions A.D. Ltd.
Drone Detect Sys
Guard From Above BV
Operational Solutions (UK)
Robin Radar Systems
Rohde & Schwarz
TeleRadio Engineering Pte Ltd.
TRD Consultancy Pte Ltd.
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