by The safety and security drones market comprises mini, micro, and small-sized remote piloted aerial vehicles that provide security surveillance for various verticals. These drones are integrated with infrared cameras, night-vision cameras, GPS, and gimbal stabilization for aerial surveillance applications. Safety and security drones can transmit real-time video feeds to ground control stations and security control rooms for monitoring purposes. The global demand for safety and security drones is rising due to increasing security threats across residential, commercial, public and infrastructure verticals. The Global Safety and Security Drones Market is estimated to be valued at US$ 2115.42 Bn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the safety and security drones are Novavax, Inc., Adjuvance Technologies, Inc., Invivogen, Vaxine Pty Ltd., SEPPIC, SPI Pharma, Inc., Agenus Inc., Avanti Polar Lipids, Inc., CSL Limited, OZ Biosciences. These key players are investing in research and development to integrate advanced camera systems, artificial intelligence, and communication technologies in safety and security drones.
The growing demand for Safety and Security Drones Market Share across the globe is driven by increased security threats at public places, rising border security concerns, increasing usages at important infrastructures and industries. Drones provide real-time surveillance and monitoring from aerial perspectives which enhances security measures efficiently.
The global safety and security drones market is expanding rapidly with major players focusing on emerging economies for business expansion opportunities. Regions such as Asia Pacific, Middle East, and Africa are expected to witness highest growth in demand for security drones during forecast period due to increasing government investments and rising security budgets.
Market Key Trends
One of the key trends gaining traction in the safety and security drones market is the integration of artificial intelligence and image recognition capabilities. AI and computer vision allow drones to automatically detect anomalies, people or objects from live video feeds and trigger alerts to security teams. This enables drones to efficiently monitor large areas and infrastructure without constant human monitoring. Furthermore, manufacturers are also focusing on developing compact, portable drones with folding arms and improved flight times for surveillance applications across various industry verticals.
Porter’s Analysis
Threat of new entrants: High capital requirement for infrastructure and technology acts as a barrier for new players. Bargaining power of buyers: Large buyers can negotiate on better prices exerting pressure on suppliers. Bargaining power of suppliers: Suppliers have less control over pricing since threat of forward integration is high from buyers and other suppliers. Threat of new substitutes: Emerging alternative surveillance technologies and substitutes pose a threat to safety drones market growth. Competitive rivalry: Intense competition among existing players to launch new features and applications driving down prices.
Geographical regions
North America accounts for the largest share of the safety and security drones market currently owing to rising defense budgets and strict safety policies. Growing adoptions across industries like construction, mining, oil & gas, and critical infrastructure inspections are fueling market revenues.
Asia Pacific is poised to be the fastest growing regional market over the forecast period with a CAGR of over 8%. Increasing surveillance activities at international borders between India-Pakistan and India-China are major growth drivers. Rapid industrialization and infrastructural development across China, India, Japan, and South Korea are creating more opportunities for safety drones.
