Search and Rescue Robots Market: Current Analysis and Forecast (2021-2027)
Emphasis on Type (Land, Marine, and Airborne); Operation Type (Autonomous, Remotely Operated, and Others); and Region/Country
The global search and rescue robots market is expected to register a CAGR of around 19% over the period of 2021-2027. The global search and rescue robots market is uplifting on account of the increasing use of robots in areas affected by chemical, biological, radiological, and nuclear (CBRN) rescue missions and advancements in robotics technology. Moreover, the easily reachable in compact & hazardous situations feature offered by search and rescue robots followed by the rapidly rising military budget all around the globe is positively stimulating the industry landscape. The continuous technological advancement in robotics is further contributing to the growth of this market. For instance, the Massachusetts Institute of Technology recently developed robotic fireflies, the robot is intended to be used for search and rescue missions, fire disasters, searching for survivors in disaster areas, and signaling assistance in collapsed buildings. Furthermore, the increasing investment in the robotics manufacturing companies is also driving the growth of the search and rescue robots market. For instance, Apptronik, a robotics company based in Texas, the US, specializes in developing versatile mobile robot systems has raised USD 14.6 million in seed funding.
Boston Dynamics Inc., Teledyne FLIR LLC, Textron Systems Corporation, Hydronalix Inc., Kongsberg Gruppen ASA, Lockheed Martin Corporation, Northrop Grumman Corporation, Pliant Energy Systems LLC, Saab AB, and Thales Group are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, the land segment held a prominent share in the market in 2020”
On the basis of type, the market is divided into land, marine, and airborne. Among these, the land segment accounted for a commendable share of the search and rescue robots market in 2020 and is expected to witness robust CAGR during the forecast period owing to increasing adoption of land search and rescue robot for electronic and military combat missions. Land search and rescue robots will continue to attract investors as these robots are getting better over the years, they can use sensors ranging from cameras to carbon dioxide detectors to tell if people are still breathing. Moreover, ongoing research and development programs are trying to enhance the land search and rescue robots. Companies like Boston Dynamics are currently working on advanced AI-powered robots that can move through rugged terrain and carry noteworthy weight.
“Amongst operation type, remotely operated robots captured a prominent share in the market in 2020”
Based on operation type, the market is segmented into autonomous, remotely operated and others. The remotely operated segment held a significant share of the global search and rescue robots market in 2020 and is expected to showcase a prominent CAGR during the forecast period. Growth in this segment is due to increased use robots in surveying and mapping applications. Robot mapping has been a very active field in robotics and AI research for at least 20 years. Robot mapping addresses the issue of how mobile robots get a spatial model of their physical environment. Moreover, increasing fundings in the robotics mapping-based companies are further driving the growth of this segment. For instance, Indoor Robotics, an indoor drone technology company that recently launched the Tando ™ drone, announced that it has closed USD 15 million in Series A funding.
“APAC to witness significant growth during the forecast period”
APAC accounted for a significant share of the global search and rescue robots market and is expected to grow at a steady growth rate during the forecast period. The growth of the search and rescue robots market in the region can be attributed to the increasing acceptance of robots for military purposes and the increasing investment by many countries for the development of advanced search and rescue robots. Further on, the countries in the region are increasing their military budget, which is impacting the search and rescue robots market in a positive way in the region. For instance, the military spending of India stood at USD 71.12 Bn in 2019, which rose to USD 76.6 Bn in 2021.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
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Table of Contents
Research Methodology for the Search and Rescue Robots Market Analysis (2021-2027)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global search and rescue robots market were the three major steps undertaken to create and analyze the adoption of search and rescue robots in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global search and rescue robots market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the search and rescue robots market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the search and rescue robots market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as the type and operation type. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the search and rescue robots market. Further, we conducted factor analysis using dependent and independent variables such as various type, and operation type of search and rescue robots. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the search and rescue robots market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global search and rescue robots market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the search and rescue robots market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global search and rescue robots market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global search and rescue robots market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the type and operation type in the global search and rescue robots market.
The main objective of the Global Search and Rescue Robots Market Study
The current & future market trends of the global search and rescue robots market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the search and rescue robots market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type and operation type
- Define and analysis of the regulatory framework for the search and rescue robots market industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the search and rescue robots market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the World
- Company profiles of the search and rescue robots market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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