26 March 2021
Visiongain has published a new report on Security Robot Market Report to 2031: Forecasts by Component (Frames, Sensors, Controller Systems, Camera systems, and Others) By Application (Spying, Explosive detection, Firefighting, Rescue Operations, Transportation, and Others). PLUS, Profiles of Leading Security Robots Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Security Robots market was valued at US$ xx billion in xx and is projected to reach at a market value of US$ xx billion by 2031.
COVID-19 Impact on Security Robots Market
The COVID-19 pandemic has impacted lives of people all around the globe. It has proved quite detrimental for business across the globe and no industry and remained untouched by its impacts. This pandemic has caused a serious disruption in the supply chain and has resulted in a huge supply-demand gap in the market for security robots worldwide.
Rising Geopolitical Instabilities and Territorial Conflicts
The total number of conflicts has increased across the globe, especially over the past ten years. For instance, Russian-Crimea conflicts, where Russian forces took control of Crimea, a peninsula of Ukraine, on the north cost of the Black sea. In Asia, India and Pakistan frequency engage in disputes along Line of Control (LOC) over disputed land of Pakistan occupied Kashmir (PoK). Security robots can immensely reduce the fatalities of soldiers in combat zones, and hence their demand is expected to grow considerably over the forecast timeframe.
Increase in Defense Spending By the Developing Economies
Developing nations across the globe are investing heavily to enhance their defense capabilities. For instance. China’s defense expenditure has witnessed an almost seven-times increase over the past twenty years, growing from US $39.6 billion in 1999 to US $266.4 billion in 2019. Currently, China spends more on defense than South Korea, Japan, Vietnam, and the Philippines combined. Moreover, India’s military spending grew by 6.8% to US $71.1 billion in 2019, according to the Stockholm International Peace research institute (SIPRI) report on the Trends in World Military Expenditure, 2019.
Some of the companies profiled in the report include Lockheed Martin Corporation, Northrop Grumman Corporation, Thales SA, BAE Systems PLC, Elbit Systems Limited, Leonardo SPA, Aerovironment Inc., Knight Scope Inc., SZ DJI Technology Co. Ltd, SMP Robotics.
• In September 2020, Lockheed Martin announced to provide a study for an integrated and capable payload ship, that will be able to patrol for extended durations, as part of the U.S. Navy’s Large Unmanned Surface Vessel (LUSV) competition.
• In October 2020, SZ DJI Technology Co. Ltd, unveiled two new payload solutions DJI Zenmuse P1 and DJI Zenmuse L1 for its flagship commercial drone platform Matrice 300 RTK at INTERGEO
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