Safety and Security Drones Market driven by Rising Threats of Terrorism and Criminal Activities
The safety and security drones market has gained immense popularity in recent years owing to its beneficial applications in the commercial and industrial sectors as well as in homeland security. Safety and security drones are equipped with advanced cameras, thermal sensors and other data transmission equipment to effectively monitor large areas and relay real-time video footage. They can identify and track suspicious individuals from a safe altitude while avoiding the risks involved for security personnel.
The global safety and security drone market is estimated to be valued at US$ 2115.42 billion in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the safety and security drones market 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 companies are focusing on introducing advanced Safety and Security Drones Market Share with longer flight duration and higher payload capacity to cater to the diverse security requirements of customers.
The growing demand from government organizations and law enforcement agencies across the world for protecting critical infrastructure and handling emergency situations is a major factor driving the safety and security drones market. Various countries are significantly investing in procuring these drones and training personnel to utilize them effectively.
The rising geopolitical tensions and threats of terrorism in regions like the Middle East, Asia Pacific and Africa have prompted many nations to strengthen their border security. This is positively impacting the global expansion of the safety and security drones market. Key players are also focusing on these emerging markets for higher sales opportunities.
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