New York, Feb. 28, 2023 (GLOBE NEWSWIRE) -- According to a report published by Next Move Strategy Consulting, the Security Robots Market generated USD 32.23 billion in 2022 and is projected to garner USD 119.30 billion by 2030, registering a CAGR of 13.4% from 2022 to 2030.
The increasing use of unmanned underwater vehicles (UUVs) for port security purposes, such as inspecting ships for false hulls and propeller shafts used by smugglers to conceal contraband, drives the security robots market. These UUVs can remain undetected underwater due to their small size and specialized propulsion mechanism.
Moreover, the increasing use of security robots, such as unmanned aerial vehicles in defense sectors, for a wide range of military applications such as mapping, surveillance, military logistics, and combat operations fuels the demand for security robots. In addition, these modern military UAVs can be outfitted with aerial firepower and used in combat operations because of their stealthy nature and high maneuverability.
However, factors such as the high deployment cost of security robots and the lack of skilled operators hamper the market growth. On the other hand, introducing AI-enabled, fully autonomous security robots capable of automatically avoiding collisions by leveraging computer vision technology is expected to create multiple growth opportunities in the coming years.
The research offers a detailed analysis of the drivers, restraints, and opportunities prevalent in the market to understand the changing market dynamics. Moreover, the research extensively analyzes major segments and their sub-segments to identify the fastest-growing and highest revenue-generating segments.
Providing a comprehensive analysis of the market across 404 pages, accompanied by 313 tables and 274 figures, this report will provide guidance for market players, investors, and startups as they devise strategies for sustainable growth over the next few years. Furthermore, the report highlights the impact of COVID-19 on the global security robots market.
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| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | USD 32.23 Billion |
| Market Size in 2030 | USD 119.30 Billion |
| CAGR | 13.4% |
| No. of Pages | 404 |
| Tables | 313 |
| Figures | 274 |
| Segments Covered | Component, Type, Applications, End User, And Region |
| Drivers | Rising adoption of security robots for safeguarding public places |
| Increasing adoption of security robots by military | |
| Opportunity | Adoption of new technologies for energy storage systems in UAVs |
The report identifies driving factors, restraining factors, and opportunitiesin the market. The global security robots market is growing due to the increasing adoption of security robots in defence sector and use of security robots for safeguarding public places. However, factors such as lack of trained operators and high deployment cost of security robots restraints the growth of the market.
Identifying the opportunities that leading players can leverage to increase their market share, Next Move Strategy Consulting’s Lead Analyst for Semiconductor & Electronics commented, “Advancements in robotic communication technology will overcome reliability issues associated with security robots and create new opportunities in the near future.”
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North America accounted for the highest share in 2021 and is expected to remain dominant throughout the forecast period. This is attributed to the factors such as the high military and defense expenditure in countries such as U.S. and Canada, which enables them to adopt new technologies and advanced security robots.
On the other hand, Asia-Pacific is estimated to grow steadily during the forecast period due to factors such as the increasing adoption of unmanned ground vehicles (UGVs) by the defense sector in countries such as China, Japan, and India for various military operations such as weapons platform, logistics carriers, reconnaissance, and surveillance.
The study analyzes each region and the respective countries by segments and sub-segments to outline the steps to consolidate their presence in the robotic gripper industry. Furthermore, this analysis helps determine the fastest-growing and highest-revenue-generating segments to take the next step accordingly.
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The report offers an extensive analysis of the competitive landscape of the global security robots market. Some major market 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 among others.
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