Market Research Future (MRFR)’s latest study reveals that the global security robots market is set to reach USD 3,359.2 million by 2027. It is expected to register a CAGR of about 7.93% during the forecast period (2018-2027). Security robots are devices with locomotive capabilities that collect data for security purposes. It is observed that the global market is highly competitive with various key players expanding business operations at an international as well as regional levels.
The high market growth can be attributed to increasing geopolitical instabilities and territorial conflicts. Improvements in sensor technology and automation capabilities have led to heavy usage of security robots in various applications. Apart from this, enhancements of neural network technology have also given these robots the capability to learn over time and improve their functionality. Moreover, the incorporation of security robots in military bases has significantly increased due to their improved capabilities. These sensors help the robots in analyzing their environment and providing more reliable data. The remote sensing abilities of these robots can be used in safeguarding the premises and detecting unwanted threats.
However, despite the market growth, lack of a comprehensive regulatory framework can impede the market growth to a certain extent. Despite this hindrance, the market is well on its way to expand due to growing defense expenditure coupled with the adoption of autonomous security robots.
Global Market for Security Robots Market– Segmental Analysis
MRFR’s report mentions that the global market is segmented on the basis of type, application, component, and region.
By type, the market is segmented on the basis of unmanned aerial vehicles (UAV), unmanned ground vehicles (UGV), and unmanned underwater vehicles (UUV). Among these, the UAV segment currently claims the largest market share and is bound to flourish at a significant growth rate throughout the forecast period.
By application, the market is segmented into patrolling & surveillance, rescue operations, firefighting, explosive detection, and others. Out of these, the patrolling & surveillance segment is anticipated to be the largest market in 2017. The security robots used in patrolling and surveillance operations can move across various routes autonomously, take detours independently, and require little rest periods.
By component, the market is segmented on the basis of propulsion system, frame, guidance, navigation & control system, camera system, and other payloads. Among all sub-segments, the propulsion system market segment is projected to hold the largest market share throughout the forecast period. The propulsion system serves as the ideal system to be used to traverse through high terrains at high speeds. This type of system is particularly used in military applications, given its advantages
The global market has been geographically segmented on the basis of North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and Latin America.
Globally, North America was leading the security robots market in 2017, owing to elevated usage of advanced weapons and technology for overseas contingency operations in Afghanistan, Syria, and Iraq. The region enjoys the top position in terms of expenditure and technological advancements and also has a large number of deployments of security robots. The United States (U.S) generates massive demand for security robots for surveillance purposes. Although Canada has made some substantial investments for development of security robots, the market is mainly governed by the U.S., with the country being the largest manufacturer of military robots globally. Moreover, the formidable presence of key companies, such as AeroVironment, Lockheed Martin, and Northrop Grumman, coupled with the availability of sophisticated technologies to deliver innovative solutions, has led to the region exhibiting immense potential.
On the other hand, the regions of Europe and Asia Pacific are also projected to remain important growth pockets globally throughout the forecast period. Both the regions collectively account for almost 47% share of the global market. Merger and acquisition activities are popular strategic plans adopted by regional market players who are vying to establish their position in the market or widen their customer base. For instance, in November 2017, Thales acquired Aveillant Ltd., a British firm, which specialized in holographic RADAR technology. The acquisition enabled Thales to be able to offer customers a new capability, complementing its surveillance offering.
The Middle East and Africa markets are gaining prominence steadily on account of several technological advancements being underway as well as rising demand from the defense sector for security robots due to ongoing wars such as the unrest in Syria.
Global Market for Security Robots Market – Competitive Dashboard
The key players in the global security robots market are L3 Technologies, Inc. (U.S.), Leonardo S.p.a (Italy), Elbit Systems Ltd. (Israel), Lockheed Martin Corporation (U.S.), QinetiQ Group plc (U.K), AeroVironment, Inc. (U.S.), Northrop Grumman Corporation (U.S.), Knightscope, Inc. (U.S.), DJI (China), and ReconRobotics, Inc. (U.S.).
Access Report @ https://www.marketresearchfuture.com/reports/security-robots-market-865