The anti-drone market is expected to grow from £395.8m in 2018 to £1.8bn by 2024, according to a new report from MarketsandMarkets.
At a CAGR of 28.8% over the six-year period, the report described rising incidences of security breaches by unidentified drones, increasing terrorist threar and illicit activities as the reasons for large scale growth.
However, it went on to outline how high research and development expenses and public safety concerns could hold it back in some way.
The military & defence sector is expected to account for the largest share of the anti-drone market during the forecast period due to an increase in the use of drones for border trespassing, smuggling and spying.
Additionally, the laser counter-drone systems market is expected to see the highest CAGR growth for the period due to development from Boeing, Lockheed Martin, Rheinmetall Defense Electronics and Raytheon.
The report also outlines how the Americas is likely to account for a major share of the global anti-drone market during the forecast period because of increasing risk of terror attacks on US soil.