Security Robots Market worth 2.36 Billion USD by 2022
According to the new market research report "Security Robots Market by Type (Unmanned Aerial Vehicles, Unmanned Ground Vehicles, Unmanned Underwater Vehicles), Component (Sensors, Controller Systems, Camera Systems, Navigation Systems), Application and Geography - Forecast to 2022", the security robots market is expected to reach USD 2.36 billion by 2022, at a CAGR of 8.56 % between 2016 and 2022. This growth can be attributed to the rising geopolitical instabilities and territorial conflicts. During the last decade, the total number of active conflicts has increased throughout the world, for instance, the European refugee crisis and disputes in the South and East China Sea. This factor are driving the demand for security robots.
Browse 72 market data tables with 54 figures spread through 174 pages and in-depth TOC on "Security Robots Market - Forecast to 2022"
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Unmanned aerial vehicles (UAVs) to hold the largest share of the security robots market during the forecast period
UAVs are expected to hold the largest share of the security robots market during the forecast period. UAVs not only perform intelligence, surveillance, and reconnaissance missions but can also attack, strike, suppress, and destroy enemy air defense, network node, or communications relay, and combat search and rescue among others.
Due to these advantages, UAVs are increasingly used by the US Army and its NATO alliances against the terrorist outfits in Syria, Libya, Iraq, and Afghanistan. Also, different security agencies are increasing the usage of UAVs for patrolling and surveillance of major events such as FIFA World Cup and Euro Cup among others.
Sensors component to grow at the highest CAGR during the forecast period
The market for sensors is expected to grow at the highest CAGR during the forecast period. CBRN and laser sensors are used in security robots for marking targets, guiding munitions, missile defense, electro-optical countermeasures, and inertial navigation systems among others.
Electro-optic systems are increasingly being used by defense forces worldwide. EO/IR systems are integral to the intelligence, surveillance, & reconnaissance (ISR) and intelligence, surveillance, target acquisition, and reconnaissance (ISTAR) capabilities of modern military forces.
North America expected to hold the largest share of the global security robots market between 2016 and 2022
The security robots market in North America is segmented into the U.S., Canada, and Mexico. The increasing use of advanced weapons and technology for overseas contingency operations such as Afghanistan, Syria, and Iraq is driving the growth of the market in this region. Currently, the ongoing operations in Syria and Libya against terrorist outfits are prompting the U.S. to use advanced technology-based security robots.
The major players operating in the security robots market are Lockheed Martin Corporation (U.S.), Northrop Grumman Corporation (U.S.), Thales SA (France), BAE Systems Plc (U.K.), and Elbit Systems Ltd. (Israel) among others.
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The market for camera systems is expected to hold the largest share of the security robots market during the forecast period. Camera systems are used in unmanned vehicles for round-the-clock video monitoring, investigation, remote surveillance, border guard and the protection of critical infrastructure, thermographic inspection of inaccessible buildings, as well as firefighting and law enforcement jobs.
The research methodology used to estimate and forecast the security robots market begins with obtaining the data on key vendor revenues through secondary research. The vendor offerings have also been taken into consideration to determine the market segmentation.
The bottom-up procedure has been employed to arrive at the overall size of the security robots market from the revenue of the key players in the market.
After arriving at the overall market size, the total market has been split into several segments and subsegments, which have been then verified through primary research by conducting extensive interviews with key people such as CEOs, directors, and others.
The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments.
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Further breakdown of region/country-specific analysis
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