PUNE, India, June 21, 2016 /PRNewswire/ --
According to the new market research report "Security Robots Market by Type (Unmanned Aerial Vehicles, Unmanned Ground Vehicles, Unmanned Underwater Vehicles), Component (Sensors, Controller Systems, Camera Systems, Navigation Systems), Application and Geography - Forecast to 2022", published by MarketsandMarkets, the market is expected to reach USD 2.36 Billion by 2022, at a CAGR of 8.56 % between 2016 and 2022.
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Browse 72 market data Tables with 54 Figures spread through 174 Pages and in-depth TOC on "Security Robots Market"
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This growth can be attributed to the rising geopolitical instabilities and territorial conflicts. During the last decade, the total number of active conflicts has increased throughout the world, for instance, the European refugee crisis and disputes in the South and East China Sea. This factors are driving the demand for security robots.
Unmanned aerial vehicles (UAVs) to hold the largest share of the security robots market during the forecast period
UAVs are expected to hold the largest share of the Security Robots Market during the forecast period. UAVs not only perform intelligence, surveillance, and reconnaissance missions, but can also attack, strike, suppress, and destroy enemy air defenses, network node, or communications relay, and combat search and rescue among others. Due to these advantages, UAVs are increasingly used by the US Army and its NATO alliances against the terrorist outfits in Syria, Libya, Iraq, and Afghanistan. Also, different security agencies are increasing the usage of UAVs for patrolling and surveillance of major events such as FIFA World Cup and Euro Cup among others.
Sensors component to grow at the highest CAGR during the forecast period
The market for sensors is expected to grow at the highest CAGR during the forecast period. CBRN and laser sensors are used in security robots for marking targets, guiding munitions, missile defense, electro-optical countermeasures, and inertial navigation systems among others. Electro-optic systems are increasingly being used by defense forces worldwide. EO/IR systems are integral to the intelligence, surveillance, & reconnaissance (ISR) and intelligence, surveillance, target acquisition, and reconnaissance (ISTAR) capabilities of modern military forces.
North America expected to hold the largest share of the global security robots market between 2016 and 2022
The security robots market in North America is segmented into the U.S., Canada, and Mexico. The increasing use of advanced weapons and technology for overseas contingency operations such as Afghanistan, Syria, and Iraq is driving the growth of the market in this region. Currently, the ongoing operations in Syria and Libya against terrorist outfits are prompting the U.S. to use advanced technology-based security robots.
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The major players operating in the security robots market are Lockheed Martin Corporation (U.S.), Northrop Grumman Corporation (U.S.), Thales SA (France), BAE Systems Plc (U.K.), and Elbit Systems Ltd. (Israel) among others.
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