Security Robots Market
The Security Robot Market was estimated around USD 2,250 million in 2019 and is predicted to grow at a CAGR of 14% over the forecast period (2020-2027). period.
The factors driving the growth of Security Robot Market includes increased deployment of security robots at hospitals, shopping malls and educational institutes, rising popularity of unmanned ariel vehicles and growing demand for autonomous systems for real time monitoring. As per the data available at Statista, the Global Unmanned Ariel Vehicles Market was calculated around USD 25.59 billion in 2018 and is expected to reach USD 70 billion by the end of 2029, which will accelerate the Security Robot Market size. Moreover, the integration of advanced technologies such as Artificial Intelligence (AI), nanotechnology, 3D visions technology and GPS, with the security robots, growing geopolitical tensions between countries and rising uncertainty of small-scale wars, are some of the additional factors supplementing the Security Robots Market share. In addition, the increasing investments by major defense companies on research and development, rising application of security robots in commercial and residential applications and rapid urbanization, are further contributing to the market growth.
However, growth of the Security Robots Market is hindered due to high investments required for integrating advanced technologies with security robots.
The major players operating in the market are Northrop Grumman Corporation, Elbit System Ltd., DJI, Lockheed Martin Corporation, Thales Group, BAE Systems Plc, Knightscope, Inc., Hyundai Motor Company, Kongsberg Gruppen and Cobham Limited, among others.
Based on End-Use Industry, the Defense and Military segment is predicted to grow at a significant CAGR during the forecast period
Rise in Government’s expenditure on the security forces and increasing utilization of Unmanned Ground Systems (UGS) for rescue missions, are some of the factors responsible for the segment’s growth.
Based on Application, the Rescue Operation segment is projected to grow at a robust CAGR over the forecast period
Increasing application of security robots for delivering supplies and medical treatment, during mining accidents and natural calamities, are propelling the growth of the segment.
Based on Region, the North American region is anticipated to capture a sizeable market share during the forecast period
Presence of the leading players such as Lockheed Martin Corporation and Knightscope, increasing Government expenditure on the defense sector, growing adoption of advanced technologies by major companies and high per capita incomes, are some of the important factors augmenting the market growth in North American region.
Key Development
- In 2020, DJI, introduced two new payload solutions: DJI Zenmuse P1 and DJI Zenmuse L1, for its flagship commercial drone platform Matrice 300 RTK primarily to serve the aerial surveying missions.
- In 2020, Hyundai Motor Group completed the acquisition of Boston Dynamics, one of the leading robotics design companies. This acquisition helped in bringing advancement in the robotics and mobility technology of the company.
Market Segmentation
Segmentation by Type
- Unmanned Aerial Vehicle
- Unmanned Ground Vehicle
- Autonomous Underwater Vehicle
Segmentation by End-Use Industry
- Defence and Military
- Residential
- Commercial
Segmentation by Application
- Spying
- Explosive Detection
- Patrolling
- Rescue Operation
- Others
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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