DUBLIN, Oct 24, 2018 /PRNewswire/ —

The “Global Drone Identification Systems market-Technologies, Market share and Industry Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.

Global drone identification systems market is anticipated to grow at CAGR of 24% during the forecasted period 2017-2024.

Rampant illegal use of drones, rising security concerns and increasing military spending are prime factors driving global drone identification systems market. Other secondary factors aiding market growth include advancements in detection & identification technologies and government regulations on identification of drones.

Increasing military spending: Growth driver

Increasing military expenditure is amongst the prime factor driving global drone identification systems market growth for the forecast period.

As per Stockholm International Peace Research Institute study, global military expenditure is estimated to be around $1.7 trillion for fiscal year 2017, an increase of 1.1% from fiscal year 2016. United States of America (USA) continues to dominate global military spending remotely by China, Saudi Arabia and India.

Total military expenditure of USA as per Department of Defense (DoD) estimate was around $610 billion for fiscal year 2017. DoD anticipates military expenditure in USA would continue to rise whilst large scale modernization drive of present conventional warfare systems. DoD stressed importance of unmanned aerial defense systems since 1980 and continues to fund for research & development of new systems with broader capabilities.

A study by Centre for the Study for Drone at Bard College, New York, USA, DoD plans to spend between $500 million to $1,050 million per annum on procurement, research and production of counter drone systems for fiscal year 2018 & 2019. Around 44% of the funding will be used for procurement of state of the art counter drone systems directly from market and rest dedicated for R&D especially in areas of monitoring & tracking. With strong economic outlook, China continues to increase its annual military expenditure. As per SIPRI study, defense expenditure of China is anticipated to increase by 5.6% for fiscal year 2017.

Peoples Liberation Army Air Force Unit (PLAAFU) of China is looking forward to procure drone detection & counter systems having capability of monitoring small slow moving drones at various altitudes in 2017. Other countries vying for drone detection systems include India, Australia, France, UK, Japan and Germany. Tests are being conducted to design drone countering systems of using thermal & optical cameras and radio systems. Increasing military expenditure on drone systems and demand for counter drone devices would augment global drone identification systems market growth for the forecast period.

Rampant Illegal Use of Drones: Growth Promoter

Rampant illegal use of drones is on rise across the globe. Federal Aviation Administration (FAA) of United States reported total 451 illegal drone sightings for Q1 2018 an increase from 403 in Q1 2017. FAA besides placing regulations is looking forward to work with industry partners to monitor, track, and counter systems against drones. China is amongst the leading manufacturer of commercial drones in the world. As of 2018, China has more than 20,000 unregistered drones according to China UAV Safety Development Forum.

China Aviation Industry Development Research Centre, study found that illegal use of drone not only threatens critical infrastructure area in urban cities but also is a threat to civil aviation space. For instance, in 2017, 9 cases of illegal drone flights led to cancellation of 43 international flights and delay of 142 flights at Chengdu Shuangliu International Airport, further 112 flights were diverted to alternate domestic airports.

China Civil Aviation Administration (CAAC) has proposed development tracking & monitoring of drones via cloud computing technology. Likewise, India and Japan are on the forefront of procuring and implement counter drone systems. Consortium of Unmanned Vehicle Systems India (CUVSI) estimates presence of roughly 40,000 drones in India most of being smaller in size, with low altitude flights & payload capacity.

Presence of unregistered drone in the country poses a bigger threat for security of critical establishments making government and Directory General of Civil Aviation (DGCA) to invest in drone counter measures. National Police Agency (NPA) in Japan reported 77 new cases of illegal drones in 2017 increasing from 36 in 2016. Increasing number of illegal flights of drones along critical infrastructures has led government & public organization to invest in anti-drone technology aiding drone identification market growth for the forecast period.

Asia Pacific: Fastest growing market

Asia Pacific is the fastest growing region for drone identification systems market. Increasing military funding, rising security concerns especially in urban cities & near critical infrastructure areas, and heightened geopolitical issues are prime factors aiding drone identification systems market in Asia Pacific. Other factors ascribing market growth include changing regulatory landscape, thriving drone market and falling cost of semiconductors & other key electrical components. China, India, Australia, and Japan are foremost markets for drone identification systems in Asia Pacific. The publisher’s analysis estimates commercial drone sales in Asia Pacific to reach revenue approximately $297 million in 2018 increasing from $154 million in 2016.

Commercial applications of drones in Asia Pacific are limited towards crop monitoring, aerial photography, and infrastructure inspection. Likewise, sales of military drones in the region are anticipated to increase whilst rising military spending and heightened geopolitical issues. With increasing sales of drones in Asia Pacific, probability of its illegal use also rises, aiding drone identification systems market in the region.

Market Determinants

Market Drivers

• Rampant Illegal Use Of Drones
• Rising Security Concerns
• Advancement In Detection & Identification Technologies
• Growing Number Of Cyber Attacks
• Government Regulations On Identification Of Drones
• Increasing Military Spending

Market Restraints

• High Cost Of Drone Identification System
• System Vulnerabilities To Cyber Attacks

Market Opportunities

• Emerging Markets Like India And China
• Declining Cost Of Semiconductors And Other Electronic Components
• Advancements In Smart Detection & Tracking Systems

Market Challenges

• System & Data Security
• Intense Competition
• Air Traffic Management
• Issues On Countering Drones

Companies Mentioned

• Aaronia Ag (Germany)
• Blighter Surveillance Systems Ltd. (UK)
• Dedrone Inc. (USA)
• Department 13 Ltd. (Usa)
• Dji Inc. (China)
• Drone Labs Llc (USA)
• Drone Shield (Australia)
• Kelving Huges Ltd. (UK)
• Leonardo Spa (Italy)
• Mistral Solutions Ltd. (India)
• Precision Hawk Inc. (USA)
• Rheinmetall Ag (Germany)
• Rinicom Ltd. (UK)
• Senso-Fusion (Finland)
• Thales Group (France)

For more information about this report visit https://www.researchandmarkets.com/research/h3md9b/global_drone?w=5

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