The Worldwide Security Robots Industry is Projected to Reach $89.6 Billion by 2027 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Security Robots Market by Type (UAV (Fixed Wing, Rotary Wing), UGV (Wheeled, Tracked, Legged, Hybrid), UUV (Autonomous Underwater Vehicles, Remotely Operated Underwater Vehicles)), Application, Component, End User and Geography - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The security robots market was valued at USD 33.7 billion in 2021 and is projected to reach USD 89.6 billion by 2027; it is expected to grow at a CAGR of 17.7% from 2022 to 2027.

The major drivers of the market include the growing adoption of security robots for commercial and residential applications, rising emphasis on security at national or regional levels, increasing investments and spending on defense by countries globally, and surging demand for autonomous systems that make real-time monitoring smarter.

UAV held the largest share of the security robots market in 2021

UAVs are either remotely controlled, semi-autonomous, or autonomous unmanned aircraft that can be used for civil/commercial, homeland security, and defense applications. UAVs not only perform intelligence, surveillance, and reconnaissance missions, but also attack, strike, suppress, and destroy enemy air defense; and combat search and rescue, among others.

A few of the advantages of unmanned aerial vehicles are these vehicles can enter environments that are dangerous to human life; reduce the exposure risk of the aircraft operators; can stay in the air for a long duration; perform a precise, repetitive faster scan of a region, day-after-day, night-after-night, in complete darkness, or fog, under computer control; and can be programmed to complete the mission autonomously.

Market for residential end-users is expected to grow at the highest rate from 2022 to 2027

Consumer drones have become popular among prosumers and hobbyists, vloggers, and videographers worldwide. This is because these drones are cost-effective and offer high-resolution wide-angle photography. Presently, governments of different countries worldwide are using drones for law enforcement and governance applications owing to their compactness and quick services. The demand for UAVs has significantly increased during the COVID-19 pandemic, with governments employing drones for carrying out surveillance activities, spraying disinfectants in public areas, and controlling crowds, along with the identification of the COVID-19 hotspots.

North America held the largest share of the security robots market in 2021

North America accounted for the largest share of 37.2% of the global security robots market in 2021. The US and Canada are the major countries contributing to the growth of the security robots market in North America. North America is a major hub for technological innovations and an early adopter of new technologies.

The presence of major players in the region also supports the demand and awareness regarding security robots. The US is the largest developer, operator, and exporter of military unmanned systems. UAVs are used to counter terrorist operations and are extensively used by the US police for crowd control. Major players such as Lockheed Martin (US) and Northrop Grumman (US) develop unmanned systems for commercial as well as homeland security applications. Several such UAVs have been developed by these major players for the defense and commercial purposes, in recent years.

Market Dynamics

Drivers

• Rising Defense Spending of Countries Worldwide
• Surging Adoption of Security Robots in Civil and Commercial Applications
• Increasing Capital Expenditure of Offshore Oil & Gas Companies
• Growing Demand for Autonomous Systems in Defense and Commercial Sectors
• Improvements in Regulatory Frameworks Related to Drone Operations

Restraints

• Unreliability of Security Robots, in Terms of Their Functionality, in Military Operations
• High Operational Costs of Security Robots
• Lack of Trained Staff for Operating Drones and Infrastructures Such as Runways
• Issues Related to Safety and Security of Security Robots

Opportunities

• Increase in Adoption of IoT and Cloud Technologies
• Development and Incorporation of Advanced Technologies in UUVs
• Development of Fully Autonomous UGVs

Challenges

• Requirement for High-Level Expertise Associated with Security Robots and Their Hardware and Software Malfunctions
• Requirement for Continuous and Uninterrupted Power Supply in UGVs

Companies Mentioned

• Aerovironment, Inc.
• Autonomous Solutions, Inc.
• BAE Systems
• Boeing
• Boston Dynamics
• Cobalt Robotics
• Cobham Limited
• Dji
• Eca Group
• Elbit Systems Ltd.
• Flir Systems
• Knightscope, Inc.
• Kongsberg
• L3 Harris Technologies
• Leonardo S.P.A.
• Lockheed Martin Corporation
• Northrop Grumman
• Qinetiq
• Reconrobotics Inc.
• Rheinmetall Ag
• Robotex Inc.
• Saab
• Smp Robotics
• Textron
• Thales

For more information about this report visit https://www.researchandmarkets.com/r/r3zrfp