HOME Research Insight The Major Players Have Adopted the Strategies Such as Contracts, Agreements, and New Product Launches to Grow in the Security Robots Market

The Major Players Have Adopted the Strategies Such as Contracts, Agreements, and New Product Launches to Grow in the Security Robots Market

The global security robots market is in its growing phase; it is expected to reach USD 2.36 Billion by 2022, at a CAGR of 8.56 % between 2016 and 2022. Rising territorial conflicts and geopolitical instabilities has resulted in the need for security robots. Also, the military and defense forces worldwide are increasingly adopting unmanned solutions due to the advantages these solutions offer such as reliability and quality.

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. These major players have adopted the strategies such as contracts, agreements, and new product launches to grow in the security robots market.

Lockheed Martin Corporation is a global security and aerospace company. It specializes in the R&D, design, manufacture, and integration of advanced technology systems and related products & services in the aerospace, defence, security, and advanced technologies sectors. The company generates 80% of its revenue through the U.S. defense contracts, which helps it in securing a stable position in the security robots market. In October 2015, it unveiled a new capability that would allow users to detect and counter emerging threats from unmanned aerial systems (UAS).

Northrop Grumman Corporation is a global aerospace & defense technology company. It provides products, systems, and solutions in unmanned systems; cyber; command, control, communications, and computers (C4); intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft; and logistics and modernization to government and commercial customers worldwide. The company is a prime contractor for high-priority defense and government service technology programs in the U.S. In January 2016, it received a contract from the Defense Advanced Research Projects Agency (DARPA) and the Office of Naval Research for a full-scale demonstration program of next-generation unmanned systems for maritime ISR and strike. In June 2015, it unveiled Andros FX, an unmanned ground vehicle designed to defeat a wide range of threats, including vehicle-borne improvised explosive devices.

Related Reports:

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

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