Security robot market to reach $2.36b by 2022
Unmanned aerial vehicles will hold the largest share of the security robots market.
According to a recently unveiled report produced by MarketsandMarkets, the security robots market is projected to reach $2.36b by 2022, at a CAGR of 8.56% between 2016 and 2022.
One of the many factors driving demand for security robots lies with the rising geopolitical instabilities and territorial conflicts across the globe.
Accounting for a number of robot variants, such as unmanned ground and underwater vehicles, components for security systems, as well as application, the report projects that unmanned aerial vehicles (UAVs) will hold the largest share of the security robots market.
In addition to its widespread use by the military, for both intelligence gathering and offensive operations, civilian security agencies are adopting the use of UAVs for patrolling major events such as the FIFA World Cup and the Olympics.
The market for security components is also expected to grow significantly between 2016 and 2022. Sensors in particular is expected to grow at the highest CAGR during the forecast period, thanks to the utilisation CBRN and laser sensors in security robots.
Defence forces have also invested in electro-optic systems, as well as EO/IR systems that are instrumental in surveillance, target acquisition and reconnaissance.
As per the report, North America will unsurprisingly hold the largest share of the global security robot market during the forecasted period. Key industry players will likely include Lockheed Martin Corporation, Northrop Grumman Corporation, BAE Systems and Thales SA.