The global security robots market has potential for growth as companies try to establish themselves.
Transparency Market Research (TMR) suggests some companies are trying to strengthen their market presence through mergers and acquisitions. Some of the leading companies include Lockheed Martin Corp., BAE Systems PLC, Knight Scope, Boston Dynamics, Northrop Grumman Corp., Liquid Robotics,SMP and Robotic Systems Corp.
According to TMR, the global market is likely to reach $3.88 billion by the end of 2025, up from 2016’s $1.86 billion. North America made up 30 percent of the global market in 2016, and Europe is likely to experience strong growth as well.
The defense and aerospace market is the largest consumer of security robots at nearly 24.2 percent in 2016. Growth is also expected in firefighting, oil and gas, rescue operations, patrolling and surveillance, law enforcement, and other sectors.
There is also potential for companies who come up with innovative uses for the robots, such as Knightscope’s life-sized robot that can patrol and monitor schools, malls and office buildings.