In Drone Transponder Market is predicted to see a significant market growth rate, with a CAGR of 7% during the forecast period of 2020 to 2027. The market value is expected to reach nearly 2,998 Million USD in the year 2027. These aerial devices are used extensively for various purposes across the globe, from military to commercial and domestic uses. It is used in construction, mining, telecom, aviation, and other sectors as well. The rise in the demands of drones has boosted the drone's transponder market as well.
Drone transponders are wireless monitoring and control devices transmitting and responding to signals to avoid air traffic collisions. They efficiently provide an overall security and surveillance feature that many industries use. The use of drones helps in saving the time and lives of many. The defense systems of many nations use drones embedded with advanced transponders used in border and maritime surveillance, the ISR missions, for missile detection, and many other reasons. While North America holds the largest global Drone Transponder Market, other nations are also following the trends. The importance of drones in various industries has resulted in the manufacturers and governments of other regions focusing on devising developments in this market.
COVID-19 Impact Analysis
Due to the dire COVID-19 pandemic, many industries, including the Drone Transponder Market, have suffered enormous losses. The government's focus and the majority of the population are diverted to the essential goods and healthcare products and services. Due to the pandemic, the low economic status of many has resulted in reduced sales of drones and their transponders in the global market.
Moreover, the government lockdown and other pandemic restrictions have affected the availability of raw materials, and the lack of skilled drone developers has negatively affected the drone transponder market manufacturers. But, the business and market analysts propose that the drones and its transponders market will recover from this phase post the pandemic.
Major Drivers of the Market
The latest data collected from authentic sources state that the major driver contributing to increasing drone transponders' shares is the rising demands and usage of drones in many commercial and defense-related sectors.
Moreover, the reduction of the ADS-B drone transponder mandates and the decline of prices also contribute to acting as market drivers. Drones are known to be widely used in real estate, aerial mapping and navigation, military and homeland security, and so on.
Opportunities of the global market
The increasing utility of drones for defense purposes and other sectors has opened vast career opportunities for drone and transponder developers and manufacturers.
Moreover, the use of lightweight materials and drones that operate on solar power has also created great opportunities for the related manufacturers, paving the way for the uas transponder market and other similar markets.
Market Restraints
Following the latest updates, some restraints are slowing down the growth of the Asia drone market, along with other slow but steady market growth regions. Some of the major restraints are the scarcity of experts to develop and fly drones and provide repair and maintenance services.
Apart from that, the low economic status of nations due to the pandemic is also a restraining factor in the upliftment of the drone emergency transponder market and other similar global drone transponder markets.
Market Growth Challenges
As per the recent survey, many vital reasons have proven to be challenging in drone transponders' market growth. The possibility of drones being cyber attacked or illegally hacked and the high capital required to manufacture drones and the transponders have hindered the respective Drone Transponder Market.
Cumulative growth Analysis
The recent statistics and reports show that the drone transponders industry is foreseeing rapid global market growth during the forecasted period. One of the many reasons behind this is the development of innovative products like the drone wireless transponder and many others.
Regions like North America, especially the US drones target market, is expected to witness the highest CAGR of 5.70 % between the forecasted periods. It led the respective market in 2020 by showcasing a market value of 832.7 Million USD.
As per the latest market surveys, the Drone Transponder Market is segmented into five major divisions based on product type, fit, platform, drone weight, application, and region. The segmentations have been listed and explained below –
Product Type Segmentation
The Drone Transponder Market is classified into ADS-B, combined transponders, and mode A/C/S transponders based on type. In the operational context, the mode A, C, and S drone transponders are widely used. The automatic dependent surveillance-broadcast drone transponder, also known as the ADS-B, occupies major market shares.
Fit Type Segmentation
Based on fit type, the Drone Transponder Market is classified into line-fit and retro-fit types. The line-fit segment witnessed the largest market share in 2020. These drone transponders are installed while assembling the drones.
Platform Type Segmentation
Based on platform type, the Drone Transponder Market is classified into rotary-winged and fixed-wing types, with the fixed-wing type predicted to lead the market shares during the forecast period. The rotary-wing type is predicted to see a CAGR of 8.30% in the forecasted years.
Drone Weight Type Segmentation
Based on drone weight type, the Drone Transponder Market is classified into drones that weigh less than 5 kg, 5 to 25 kg, and 25 to 150 kg, to more than 150 kg. The first category includes the less than 5 kg drone transponders registered for having the largest market shares in 2020, as these are small and easy to control.
Application Type Segmentation
Based on application type, the Drone Transponder Market is classified into military and civil types. The drone transponders used for military and defense purposes is expected to witness global market domination, as it is extensively used for border surveillance, ISR mission, missile detection, etc. It is reported to have occupied the 67.19% of the market shares in 2020.
Region Type Segmentation
Based on region, the Drone Transponder Market includes the countries of Asia-Pacific, North America, Europe, Latin America, the Middle East, and Africa. North America is predicted to see rapid market growth, with the expected CAGR to be 5.70% during the forecasted years.
Following the recent surveys and statistics, it is to be noted that the global drones market is witnessing an increase in demands; hence many regions across the world are getting involved in this drones target market. The North American market is reported to have led the market in 2020, with the market value being approximately USD 832.6 Million. The US is known to dominate the global drones market by being the largest manufacturer among the others. Hence, it is expected to see the highest CAGR of 5.07% between the forecasted years from 2020 to 2027.
The main reason contributing to this significant market growth is the presence of innovative technologies and solutions to some of the leading drone transponder market manufacturers like FreeFlight Systems, uAvionix Corporation, and others in North America. The other regions that will witness steady market growth include Asia-Pacific, Europe, Latin America, the Middle East, and Africa. Europe follows North America in the largest market share, accounting for 21.77% global shares in 2020.
The Drone Transponder Market reports show that the demand for drones and transponders is reaching sales peaks. It has given rise to prominent drone and related product manufacturers in the global market. Some of the major key players have been mentioned below.
The increasing use of drones in almost all industries, especially in the defense sector, to commence various military missions. For surveillance purposes, the transponder for drones is also witnessing immense growth in market size and revenue.
This Drone Transponder Market analysis is formulated by obtaining the latest and valid data from primary and secondary research. The primary means include information that is brought together from market forecast and trend reports, and industry and marketing stakeholders and executives, respectively. The secondary means include government associations and various other business journals, magazines, etc.
Moreover, this detailed market report contains drone transponders industry overview, the impact of the Covid-19 pandemic, the major market dynamics, such as global market opportunities, the drivers, restraints, and challenges, regional and other market segmentation, the key players as well as the recent industry news and developments. This report aims to project a clear picture and measure the performance of the respective market in the global platform.
Drone Transponders Market Highlights:
Frequently Asked Questions (FAQ) :
Global drone transponder market is anticipated to garner the market value of USD 2,998 million by 2027.
Global drone transponder market is likely to expand at a CAGR 6.68% during the review period 2020 to 2027.
The US, in North America, is estimated to be the largest manufacturer of unmanned systems.
Based on application, the global drone transponder market is segmented into civil and military, with the civil segment procuring higher CAGR.
Sagetech Corporation (US), uAvionix Corporation (US), Google LLC (US), and Micro Systems, Inc. (US) are some of the most renowned players of the global drone transponder market.
Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
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