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Press Release: Safety and Security Drones Market is Expected to grow with a CAGR of 34.7% by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Safety and security drones has several advantages such as increased range of drones, and high-resolution sensors for specific services such as high-quality videography and for patrolling, and inspections. For instance, these drones are extensively used to manage safety and security at various public places such as airports, colleges, universities, railway stations, seaports or docks, and large public events. High adoption of drone technologies in traffic management, crowd management, assets management, patrolling, surveillance operations, and an increasing number of smart cities are expected to boost growth of the market. According to Coherent Market Insights’ analysis, China is expected to be the fastest-growing country in the Asia Pacific safety and security drones market during the forecast period.
Global safety and security drones market is expected to witness significant growth during the forecast period (2019–2027). The market growth is majorly attributed to increasing adoption of drones in different applications such as defense, government, and land in the industrial sector. Moreover, favorable rules regulations for safety and security drones are expected to propel demand for safety and security drones across the globe. For instance, in December 2019, the International Organization for Standardization (ISO), announced the world’s first approved drones standards. The publication of these international safety and quality drone standards is expected to positively impact the growth of the market over the forecast period.
Figure 1. Global Safety and Security Drones Market Share (%), by Region (2019 & 2027)
Source: Coherent Market Insights, 2018-19
North America is expected to be the largest and fastest-growing market for safety and security drones during the forecast period, owing to increasing adoption of drones for numerous monitoring and surveillance applications in the region. In addition, government of various countries are offering relief for the usage of the drone in the region. For instance, in December 2019, the U.S. Department of Transportation’s Federal Aviation Administration (FAA) announced rules and regulations for the operation of the drones in the U.S. airspace by requiring them to be identifiable remotely, by installing RFID chip in it. This remote identification of drones will allow safe operation of the drone.
Moreover, Asia Pacific is expected to exhibit highest CAGR over the forecast period. The growth of safety and security drones market in the region is mainly attributed to the rising adoption of safety and security drones by the developing economies of the region such as China and India.
Moreover, loosening rules and regulations for safety and security drone is further expected to boost the market growth across the globe. For instance, in March 2017, Airobotics Ltd, an Israel-based drone manufacturer was the first company worldwide that has received permission from Civil Aviation Authority of Israel (CAAI) for operation of fully automated drones without a pilot. This certification resulted Airobotics drone ideal for monitoring of critical points at manufacturing or industrial sites such as mines, ports, and assets of the oil, power, and gas companies such as distribution lines.
Figure 2. Global Safety and Security Drones Market Share (%), By Drone Type (2019 & 2027)
Source: Coherent Market Insights, 2018-19
The increasing launches of hybrid drones is expected to fuel growth of the safety and security drones market. There are three types of drones, which are used for weather and climate analysis and explosive detection and removal such as fixed-wing drones, rotary blade drones, and hybrid drones. Rotary blade safety and security drones is expected to grow with a considerable grow rate over the forecast period, owing to its ease of use and capabilities such as high reliability, low latency, and high throughput, and its increasing adoption of safety and security drones for surveillance and security systems.
According to Coherent Market Insights’ analysis, hybrid drones segment is expected to be the fastest-growing segment during the forecast period, owing to increasing adoption of hybrid drones due to its advanced capabilities such as longer flight time, higher payload capacity, and increased range of safety and security drones up to 4-5 times compared to normal safety and security drones, which have a range of around 10-20 miles.
Some of the key players operating in the global safety and security drones market include AZUR DRONES SAS, Microdrones GmbH, Parrot Drones SAS, Aerialtronics, FLIR Systems, Inc, Flyability, Aria Insights, Delair, Autel Robotics, Kespry Inc, ideaForge, and others.
Safety and security drones are mainly adopted for surveillance operations and for managing safety and security. The growth of safety and security drone is majorly attributed by the increasing adoption of safety and security drones across various end-use industries such as manufacturing, construction, telecom, oil & gas for managing safety and security of the assets.
Drone surveillance is easier, safer, and faster. Safety and security drones have applications in border surveillance, monitoring assets of the power, oil, and gas companies, as the drone can enter in confined, and narrow space, and can be equipped with high-quality cameras and thermal sensors, which allows them to provide imagery of critical areas that the human eye is unable to detect.
Market Dynamics
The global safety and security drone market growth is attributed to rising demand for safety and security drones by the defense sector of various countries. Safety and security drones are majorly adopted by the defense sector of various countries for surveillance, and security management of their international borders, and for monitoring of illegal activities across the internal borders. For instance, in July 2016, CyPhy Works received order for its Persistent Aerial Reconnaissance and Communications System, from the U.S. Army’s Rapid Equipping Force. PARC is a tethered drone that is majorly used for surveillance operations.
However, complex terrain and limited range of delivery drones are some of the major factors that are expected to restrain growth of the market over the forecast period. Lack of proper knowledge and high expertise for maneuvering safety and delivery drones are other factors that are further expected to hamper growth of the safety and security drones market over the forecast period.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
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