Security Robots Market to Grow at 13.4% CAGR by 2030
The growth of the security robots market is highly influenced by the emergence of advanced UAVs and UGVs, which enhance military capabilities.
According to a new research report by Next Move Strategy Consulting, the global Security Robots Market was valued at $32.23 billion in 2021 and is expected to reach $119.30 billion by 2030, registering a CAGR of 13.4% during the forecast period.
The growing use of unmanned underwater vehicles (UUVs) for port security in inspecting ships for propeller shafts and false hulls used by smugglers to conceal contraband drives the market. Also, owing to their small size and specialized propulsion mechanism, these port security robots can remain undetected underwater, which provides them with further advantages in such applications.
Moreover, the increasing use of security robots, such as unmanned aerial vehicles in defense sectors for a wide range of military applications such as military logistics, surveillance, and mapping, is driving demand for security robots. In addition, the high maneuverability and stealthy character of modern military UAVs make them ideal for combat operations.
However, factors such as the lack of skilled operators and the high deployment cost of security robots hamper the market growth. On the contrary, introducing AI-enabled, fully autonomous security robots capable of automatically avoiding collisions through computer vision technology is expected to create numerous opportunities in the security robots market in the coming years.
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According to the report, the leading players in the security robots market are Lockheed Martin Corporation, Northrop Grumman, BAE Systems, Leonardo S.p.A., Elbit System, Kongsberg, QinetiQ, L3Harris Technologies, Inc., Thales, AeroVironment Inc., and others.
Key Insights from the Security Robots Market Report:
The information related to key drivers, restraints, and opportunities and their impacts on the security robots market is provided in the report.
Value chain analysis of the market study provides a clear picture of the stakeholders’ roles.
The shares of the players in the global security robots market, along with the competitive analyses, are included in the study.