According to the new research report published by The Insight Partners, titled “Counter UAV Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology, Force Type, Product Type, Configuration, and End Users,” the market is expected to grow from US$ 1,921.55 million in 2021 to US$ 5,021.57 million by 2028; it is estimated to grow at a CAGR of 14.7% from 2021 to 2028.
The global defense sector is increasingly witnessing a rise in asymmetric warfare, and due to this, the governments across developed and developing economies emphasize soldier modernization. The initiatives toward modernizing soldiers include equipping them with advanced combat capabilities, including modern vehicle fleets and countermeasure solutions. The counter UAV systems are among the key components of soldier modernization. Various military bodies across developed and developing countries have increased their spending in the procurement of counter UAV systems.
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Several government bodies across the globe invested a substantial amount in the procurement of defense equipment despite experiencing economic turmoil. The global military spending increased by 2.6% in 2020 compared to 2019, according to SIPRI. The counter UAV market in 2020 and 2021 underwent high adoption from several global air, land, and naval forces. However, global supply chain disruptions caused by the significant spread of the COVID-19 impacted the counter UAV system supplies in 2020. On the contrary, with the global normalization of the supply chain, the counter UAV market started to revive from its impact post Q2 of 2020.
The counter UAV market is segmented on the basis of technology, force type, product type, configuration, end user, and geography. Based on technology, the counter UAV market is segmented into laser systems, kinetic systems, and electromagnetic systems. Based on force type, the market is categorized into air, land, and naval. By product type, the market is bifurcated into ground based and handheld. On the basis of configuration, the market is divided into portable and stationary. Based on end user, the market is further split into defense and homeland security. On the basis of geography, the counter UAV market size is primarily segregated into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America.
Lockheed Martin Corporation, Thales Group, NORTHROP GRUMMAN, Leonardo S.p.A., and Rafael Advanced Defense Systems Ltd are a few key players operating in the counter UAV market. In addition, several other important market players were studied and analyzed during the course of this study to get a holistic view of the global counter UAV market and its ecosystem.
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