Jul 17, 2020 4:07 PM ET
iCrowd Newswire – Jul 17, 2020
Global Drone Transponder Market is anticipated to reach USD 2,998 Million by 2024 at a CAGR of 6.68% during the forecast period.
In the last few years, drones were used for various industrial applications, including aviation, construction, mining, oil & gas, telecom, and logistics. The rise in the use of drones in these industries is driven by benefits over conventional manual inspection technologies; the use of drones helps save lives, time, and costs.
Key players in the Global Drone Transponder Market are Aerobits Sp. z.o.o. (Poland), FreeFlight Systems, Inc. (US), Google LLC (US), L3Harris Technologies, Inc. (US), Micro Systems, Inc. (US), Microair Avionics Pty Ltd (Australia), Sagetech Corporation (US), Sandia Aerospace Corporation (US), Trig Avionics Limited (UK), and uAvionix Corporation (US).
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In October 2018, Aerobits Sp. z.o.o. collaborated with FLARM Technology Ltd, a company specializing in the production of anti-collision systems for general aviation, to miniaturize its ADS-B devices.
The global drone transponder market has been segmented on the basis of type, platform, fit, application, and drone weight.
By type, the market has been classified as ADS-B compatible and ADS-B non-compatible. The ADS-B compatible segment is projected to dominate the market. It was valued at USD 1,486.1 million in 2018 and is expected to reach USD 2,262 million by 2024. Onboard sensors on drones are ineffective in ensuring collision avoidance. Thus, transponders, such as the ADS-B compatible, are being developed to ensure airspace safety and increase situational awareness, thereby reducing collision risks. ADS-B technology helps drone operators sense and avoid possible collisions. The ADS-B non-compatible segment is anticipated to exhibit a CAGR of 5.60% during the forecast period.
Based on platform, the Global Drone Transponder Market has been divided into fixed-wing and rotary-wing. The fixed-wing segment is expected to lead the market during the forecast period. The segment was valued at USD 1,327.1 million in 2018 and is estimated to reach USD 1,880.9 million by 2024. Fixed-wing drones are equipped with wings as opposed to vertical lift rotors and are similar to conventional airplanes. These drones can be controlled using ailerons, elevators, and rudders, which are integrated into the wings. They can cover long distances, map large areas, and are suitable for long-duration monitoring. The rotary-wing segment is expected to register a CAGR of 8.30% during the forecast period.
On the basis of fit, the market has been classified as line-fit and retrofit. The line-fit segment accounted for a larger market share in 2018. Line-fit refers to drone transponders that are installed during the assembly of drones. Line-fit minimizes the work involved post-delivery.
In terms of application, the Global Drone Transponder Market has been bifurcated into civil and military. The civil segment is anticipated to expand at a higher CAGR during the forecast period. This segment covers the market for drone transponders used for all civilian applications such as in industrial, retail, and government. Civilian drone transponders are crucial for industries such as construction, agriculture, border monitoring, and communication. This, in turn, is driving the growth of the segment.
Based on drone weight, the market has been categorized as less than 5 kg, 5–25 kg, 25–150 kg, and more than 150 kg. The less than 5 kg segment accounted for the largest market share in 2018. The less than 5 kg drones are small and agile, hard to detect, and easy to control. Thus, the demand for transponders for these drones has been increasing over the last few years.
By region, the global drone transponder market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
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The market in North America was valued at USD 832.6 million in 2018. The presence of major market players, such as L3Harris Technologies, Inc., Sagetech Corporation, Google LLC, and uAvionix Corporation, is expected to drive the market growth in the region. The North American drone transponder market is anticipated to expand at a CAGR of 5.70% during the forecast period.
Europe is projected to be the second-largest market during the review period. The regional market is expected to reach USD 672.5 Million by 2024, expanding at a CAGR of 7.22% during the forecast period. Asia-Pacific is projected to be a key region for the market during the review period. The market in the region is expected to reach USD 646.1 million by 2024 at a CAGR of 8.69% during the forecast period.
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