Global Flying Security Camera Market Highlights 2022 – 2030
The global flying security camera market is estimated to garner a sizeable revenue and grow at a CAGR of ~29% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing adoption of drone-based applications across the globe, and rise in government spending capacity over public facilities and spaces. In 2019, the total shipments of internet of things (IoT) enterprise drones were more than 350,000, which rose up to about 520,000 by the end of the year 2020. The value is calculated to increase up to 1.2 million by 2023.
Along with these, increasing acceptance of infrared illumination for improved vision in a variety of consumer applications, especially in the retail sector, and availability of high-resolution satellite imagery are also expected to drive the market growth in the forthcoming years. Furthermore, expansion of the application areas of drone cameras such as LiDAR, GPS, and mapping services are projected to offer ample growth opportunities to the market in the near future.
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The market is segmented by application into thermal imaging, surveillance, and photography and videography, out of which, the surveillance segment is anticipated to hold the largest share in the global flying security camera market. This can be accounted to the growing usage of flying cameras by authorities for street surveillance to broadcast messages and information about lockdown measures, especially in rural areas. Apart from this, growing privacy and security concerns are also predicted to boost the market segment growth in the future. Additionally, on the basis of end use, the military segment is assessed to acquire the largest share during the forecast period ascribing to the rising defense budget worldwide, and increase in the number of agreements between government and local authorities for the supply of drones. According to the World Bank, the world’s military expenditure as a share of GDP was calculated to be 2.439 percent in 2020, up from 2.188 percent and 2.149 percent in 2019 and 2018 respectively.
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Global Flying Security Camera Market Regional Synopsis
On the basis of geographical analysis, the global flying security camera market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the escalating safety and security concerns across emerging nations, and largescale production and consumption of surveillance cameras in the region. In addition, availability of lower price products with advanced technologies is also projected to bolster the region’s market growth in the coming years. Moreover, the market in North America is expected to grab the most significant share during the forecast period ascribing to the high military spending, and frequent updating of old UAV fleets with new ones for effective operations and results. As per the data provided by the World Bank, in 2020, the military spending of the United States was 3.7 percent of the total GDP share, and the same value for Canada grew up to 1.4 percent of GDP.
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The global flying security camera market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global flying security camera market includes the following segments:
By Type
- SD Camera
- HD Camera
By Application
- Thermal Imaging
- Surveillance
- Photography and Videography
By End Use
- Military
- Homeland Security
- Infrastructure
- Commercial
- Others
Growth Drivers
- Growing Adoption of Drone-Based Applications Across the Globe
- Rising Government Spending Capacity over Public Facilities and Spaces
Challenges
- Increasing Number of Inferior Quality Products by Local Players
Top Featured Companies Dominating the Market
- Aeryon Labs Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Go Pro Inc.
- FLIR Systems, Inc.
- Elbit Systems Ltd.
- Israel Aerospace Industries Ltd.
- Elbit Systems Ltd.
- SZ DJI Technology Co.
- Canon Inc.
- Amazon Wen Services, Inc.
- Arecont Vision LLC
