“Global security robots market expected to grow at a CAGR of 8.56% between 2016 and 2022”
The global security robots market is in its growing phase, it is expected to reach USD 2.36 billion by 2022, at a CAGR of 8.56 % between 2016 and 2022. Rising geopolitical instabilities and territorial conflicts and increasing adoption of unmanned solutions by different military and defense forces are the major drivers for the global security robots market.
“Unmanned underwater vehicles (UUVs) to grow at the highest CAGR during the forecast period”
The market for UUVs is expected to grow at the highest CAGR during the forecast period. Different navy agencies such as the US and Canadian naval agencies are preparing to upgrade their undersea warfare by deploying UUVs such as autonomous underwater vehicles (AUV) for a wide range of missions, including mine counter measure, harbor security, and search and salvage operations. This is driving the demand for UUVs.
“Spying applications estimated to have the largest share of the security robots market during the forecast period”
Spying is the most important strategy in the modern warfare, which enable the defense forces to generate battlefield intelligence and thus, have an edge over the opposition. Security robots such as UAVs are used extensively by the US Army and NATO alliances to keep a watch on the militants and their activities in the regions affected by the extremist organizations.
“North America expected to have the largest share of the global security robots market during the forecast period”
The major driver for the security robots market in North America is the increasing use of advanced weapons and technology in the region for overseas contingency operations such as Afghanistan, Syria, and Iraq. The market in APAC is estimated to grow at the highest CAGR during the forecast period. Increasing defense budgets in the developing countries of APAC is a major factor contributing to the growth of the security robots market in this region.
Breakdown of profile of primary participants:
- By company–tier 1:20%, tier 2:50%, and tier 3:30%
- By designation– C-level executives: 10%, directors: 40%, and others: 50%
- By Region– North America: 60%, Europe: 25%, APAC: 10%, and RoW: 5%
Humanoids are one of the new advancements in the security robots market. Humanoids are being developed and used for military applications as they have remarkable mobility, agility, and dexterity speed. They can operate in any terrain and can be being sent in dangerous disaster zones, which are impossible for humans to enter.
The companies profiled in this report include the Lockheed Martin Corporation (U.S.), Northrop Grumman Corporation (U.S.), Thales SA (France), BAE Systems Plc (U.K.), Elbit Systems Ltd. (Israel), Finmeccanica, Inc. (Italy), Aerovironment, Inc. (U.S.), Knight scope (U.S.), DJI (China), Recon Robotics (U.S.), Boston Dynamics (U.S.), Cobham (U.K.), Kongsberg Gruppen (Norway), Qinetiq (U.K.), and iRobot Corporation (U.S.).
Reasons to buy the report:
- This report includes the market statistics pertaining to the environment, systems, and geography, along with their respective revenue.
- The Porter’s five forces framework has been utilized, along with the value chain analysis, to provide an in-depth insight into the global security robots market.
- Major drivers, restraints, challenges, and opportunities for the market have been detailed in this report.
- Illustrative segmentation, analysis, and forecast for the market based on type, component, vertical, and geography have been conducted to give an overall view of the global security robots market.