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Security Robots Market Size is estimated USD 71.8 billion by 2027, at a CAGR of 17.8%

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Security Robots Market Size is estimated USD 71.8 billion by 2027, at a CAGR of 17.8%

April 25
19:00 2023
Security Robots Market Size is estimated USD 71.8 billion by 2027, at a CAGR of 17.8%
Security Robots Market
The Security Robots Market Size, Analysis, Trends, & Forecasts. The Global market for Security Robots categorized by Type, Application, End User, Size and Geography

The report Security Robots Market Share by Type (UAV (Fixed Wing, Rotary Wing), UGV (Wheeled, Tracked, Legged, Hybrid), UUV (Autonomous Underwater Vehicles, Remotely Operated Underwater Vehicles)), Application, End User and Geography – Global Forecast to 2027″, is estimated to be USD 31.7 billion in 2022 and is projected to reach USD 71.8 billion by 2027; it is expected to grow at a CAGR of 17.8% from 2022 to 2027. The major drivers of the market include the growing adoption of security robots for commercial and residential applications, rising emphasis on security at national or regional levels, increasing investments and spending on defense by countries globally, and surging demand for autonomous systems that make real-time monitoring smarter. The security robots market has been segmented based on component, type, application, end user, and region.

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Browse 208 market data Tables and 59 Figures spread through 257 Pages and in-depth TOC on “Security Robots Market by Type and Geography – Global Forecast to 2027”

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Major companies operating in the security robots market include Emerson (US), ABB (Sweden), Schneider Electric (France), Yokogawa (Japan), Endress+Hauser (Switzerland), Honeywell (US), Siemens (Germany), Fuji Electric (Japan), Danfoss (Denmark), and Hitachi (Japan).

DRIVERS: Rising defense spending of countries worldwide related to boost of Security Robots Market

Countries across the world are using forefront technologies to safeguard their borders against underwater threats. In the present global scenario, there has been an increase in threats from pirates, terrorists, and seafarers creating trouble across marine borders. According to the UN, in 2019, an average of 580 ships traversed the ~2,800-kilometer coastline of South Africa, resulting in growing transnational crimes at sea. This, in turn, negatively impacted the revenue of the country, as well as led to the smuggling of small arms, light weapons, and drugs, along with human trafficking. Bringing these crimes under control has led to a significant increase in defense spending worldwide. Defense forces use UUVs for mine countermeasures, rapid environmental assessment, intelligence, surveillance, reconnaissance activities, harbor protection tasks & port clearance operations, and anti-submarine warfare. Hence, security robots such as UUVs are expected to be increasingly used in the coming years to tackle underwater security threats, thereby leading to the growth of the market globally.

OPPORTUNITIES: Development and incorporation of advanced technologies in UUVs

The limited battery life of UUVs necessitates human interference for charging purposes. Nickel-metal hydride (NiMH) batteries used in UUVs have a slower degradation rate and less leakage probability at the time of accidents than Li-ion batteries. This leads to the increased use of NiMH batteries in high-speed UUVs. The onboard sensors used in UUVs improve their capability to carry electronic equipment for imaging and monitoring applications. They also reduce the power consumption rate of onboard electronics. For instance, WiBotic (US) offers underwater wireless power and battery intelligence solutions. Kongsberg Maritime (Norway) offers EELUME AUV, which can be permanently deployed on the seabed owing to its underwater charging capability. The adoption of these solutions can help UUV operators reduce the effort required to swap old batteries with new ones during continuous underwater operations.

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The security robots market in Asia Pacific is expected to grow significantly from 2022 to 2027

The major factors driving the growth of the security robots market in the region are increasing defense spending by countries such as Australia, South Korea, and India, while Japan’s spending remained steady. Asia Pacific is one of the potential markets for unmanned vehicles as countries such as China, India, Japan, Australia, and South Korea, among others are actively focusing on strengthening their military systems. The geopolitical dynamics of the region play a major role in the measures taken by major economies such as India and China toward the enhancement of military capabilities and strength. India shares borders with countries such as Pakistan, Bangladesh, and China, among others. The Indian government is mulling up security robots to ensure zero infiltration across these borders.

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