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The global security robot market accounted for $1.62 billion in 2017 and is expected to reach $3.68 billion by 2026 growing at a CAGR of 9.5% during 2017-2019 & 2026.
Some of the key factors such as increasing safety concerns, growing demand for robots in security and surveillance, increased application of unmanned system solutions in military forces are boosting the market growth.
Moreover, growth in defense budgets of developed countries will provide ample opportunities for the market growth.
However, stringent government environment in different regions rules is restraining the market growth.
Based on the type, unmanned aerial vehicles segment accounted for considerable market share during the forecast period due to increased usage in reconnaissance & surveillance. UAVs are being used effectively by various countries around the globe as an effective measure against terrorist activities and to protect the borders.
By Geography, Asia Pacific dominated the largest market share due to the growing investment of governments to tackle illegal immigration, terrorist attacks, infiltration, and criminal activities.