The counter unmanned aircraft system (C-UAS) market is estimated to reach over $15 billion by 2032

Tel Aviv, Israel, April  16, 2024  (GLOBE NEWSWIRE) -- ParaZero Technologies Ltd. (Nasdaq: PRZO) (the "Company" or "ParaZero"), an aerospace company focused on drone technologies for commercial drones, defense drones and urban air mobility aircraft, recently announced its intention to enter the counter unmanned aircraft system (C-UAS or anti-drone) market, by developing dedicated solutions based on its advanced technology, as announced on February 27, 2024.

Small, lethal drones are being utilized around the world with tremendous effectiveness and are reshaping the balance between humans and technology in war, raising demand for C-UAS countermeasures. Counter-drone technology encompasses a wide range of solutions that allow users to detect, classify, and mitigate drones and unmanned aerial vehicles. This includes everything from camera systems and specialist drone detection radars to net guns and cyber takeover systems.

Following an extensive due diligence process, the Company analyzed the expanding market of C-UAS technologies and believes that specific elements within its unique proprietary technology portfolio, as well as the Company's ability to rapidly design, develop, and manufacture advanced UAS technologies, strongly positions the Company to offer a competitive edge in defending against threats and attacks from small UAS platforms. The decision to explore these avenues also correlates to global inquiries the Company has received from various entities to explore entering this market.  Presently, the Company believes that there is increased market demand for C-UAS technology for a myriad of site applications (military outposts, correctional facilities, large public venues, et al), yet limited mitigation options.

"Our drone technology solutions leverage a distinct technology portfolio protected by global patents, that we have developed over the course of more than ten years. We believe that this technology portfolio enables us to effectively counteract various threats posed by drones by rapidly developing bespoke C-UAS solutions for key clientele," said Boaz Shetzer, ParaZero CEO. "Recent international conflicts have highlighted the extensive use of drones in various attacks and the critical necessity to counteract these strikes promptly with minimal damage. We have commenced develop of dedicated solutions, based on our technology, and we believe that ParaZero can provide a unique alternative to today's conventional solutions."

According to Global Market Insights, the Global Anti-Drone or Counter-UAV Market was valued at $1.9 billion in 2023 and is forecasted to be worth USD 15.3 billion by 2032, growing at an estimated CAGR of 26.0% between 2024 and 2032.