In 2016, US safety and security drone sales totaled $90 million. This includes products and services that are utilized by both commercial and consumer end users, but excludes any military drone use. Safety and security sales are just one segment of the larger drone market, accounting for roughly 20% of the total commercial drone market in 2016.
Despite the initial hesitance among end users to adopt safety and security drones, sales for these products and services are expected to see stellar growth opportunities over the next several years. Over the short term, safety and security drone sales are expected to nearly double by 2019, reaching $250 million. Between 2019 and 2022, sales are expected to see explosive growth and increase more than fourfold. Long term growth prospects are also bright with sales projected to increase nearly sevenfold in the six-year period between 2022 and 2028.
Acceleration Of Drone Sales
The key factors driving the rapid growth in the safety and security drone market are:
- Rapidly spreading awareness of the capabilities and benefits of commercial drones, including the option to integrate drones into existing security systems and services to provide actionable intelligence;
- Declining equipment costs as economies of scale continue to allow manufacturers to produce equipment more efficiently and as broader demand for sensors and specialized equipment eases current supply shortages, making drones a more affordable option for potential end users;
- Ongoing development into more specialized solutions in all segments of the industry, which will help address customers’ key needs and provide additional applications for use;
- Expanding capabilities of drone systems to quickly and efficiently gather crucial data for safety and security applications;
- Evolving industry regulations that will help remove gray areas in the legality of operation and encourage wider adoption among potential end users who may otherwise hesitate due to liability concerns;
- Desire among end users to reduce labor costs and rely on more highly automated, often more accurate systems;
- A myriad of ways to leverage drone technology to complement existing electronic security systems, such as tethering drones to safety and security unmanned ground vehicles.
