DRONE AIRSPACE SECURITY SYSTEM MARKET ANALYSIS

Drone Airspace Security System MarketSize and Trends

The global drone airspace security System market accounted for US$ 522.2 Mn in terms of value in 2019 and is expected to grow at a CAGR of 28.5% for the forecast period 2020-2027.

Figure 2: Global Drone airspace security System market Value (US$ Mn), 2017 - 2027

The global drone airspace security System market was valued at US$ 522.2 Mn in 2019 and is forecast to reach a value of US$ 3,633.9 Mn by 2027 at a CAGR of 28.5% between 2020 and 2027.

Market Trends

1. Rising adoption of Machine Learning and Artificial Intelligence technology is a major trend

Integration of machine learning and artificial intelligence in drones is driving the market growth. The recent developments in electronic components such as camera, processor, micro-controller, mobile hardware, and modern computing is enhancing drone capabilities. New development of hardware and components help drones to generate real-time maps of the route due to the faster microprocessor, advanced camera, and modern computing. Modern computing is capable of creating real-time drone maps with the help of aerial imaging technology.

2. Research and development activities to innovate novel products

Key companies in the market are focused on research and development activities, in order to gain a competitive edge in the market. For instance, in January 2017, Future Fibre Technologies, an Australia-based company, launched Aura Ai, a product that uses latest advanced optical signal processing algorithms, combined with artificial intelligence, to discriminate between intrusions, nuisance alarms, and other causes of fence disturbance.