Unmanned Ground Vehicle Market worth over $7bn by 2026
Published Date: March 23, 2020 Authors: Ankita Bhutani, Preeti Wadhwani
Unmanned Ground Vehicle Market size is set to surpass USD 7 billion by 2026, according to a new research report by Global Market Insights, Inc.
The market growth is due to increasing demand for automated systems in defense & commercial sectors. These vehicles have increased operational efficiency and versatile scope of applications compared to manned vehicles. Formulation of various regulatory bodies, monitoring acquisition rates of UGV will shape the market landscape.
Reduction of risks to army & homeland security personnel during operations will drive the unmanned ground vehicle market demand. Industry participants are developing various UGV to reduce risks for personnel during field operations. For instance, the U.S. announced plans to include several thousand UGV by 2030 in its armed forces, demonstrating capabilities to function in conjunction with humans.
The rise in the defense budget for UGVs will support the market growth
The rising defense budget allocation for the development of UGVs and investments by industry participants in commercial sector are positively impacting market statistics. For instance, in 2019, U.S. allocated a budget of USD 429 million on military UGVs compared to USD 310 million in 2018. Government bodies are initiating Request for Proposal (RFP) program, further promoting market opportunities.
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Establishment of various regional players and start-up, promoting market competitiveness
Industry participants are developing new technologies to cater the versatile requirements in this market. Various start-ups and regional players are entering the market. Major players in Asia Pacific include Hitachi and Rheinmetall, whereas regional players include EOS Electro Optic Systems, Lamson Concepts and Marathon Targets. Major market strategies adopted by regional industry players to improve their market share includes collaboration and LTA with global players.
Browse key industry insights spread across 300 pages with 482 market data tables & 31 figures & charts from the report, “Unmanned Ground Vehicle Market Size By Commutation Type (Tracked, Wheeled, Legged, Hybrid), By Application (Defense [Search and Rescue (SAR), Special Mission, Combat Support, Explosive Ordnance Disposal (EOD) System], Commercial [Fire Fighting, Oil & Gas, Agriculture]), By Size (Small, Medium, Large, Extra Large), By Operation (Teleoperated, Semi-automatic, Automatic), By Component (Navigation System, Communication System, Motors/Actuators, Power Systems), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Major market players include Armtrac Limited, BAE Systems, Clearpath Robotics, Inc., Cobham Plc, DOK-ING, ENDEAVOR ROBOTICS, Elbit Systems, General Dynamics Corporation, HORIBA MIRA Ltd., ICOR Technology, Northrop Grumman Corporation, QinetiQ Group Plc, RE2, Inc., Rheinmetall, Lockheed Martin, L3Harris Technologies, Leonardo S.p.A, Oshkosh Corporation, iRobot Corp., FLIR Systems, Milrem AS, Textron Systems, and Howe & Howe Technologies, Inc.
Harsh environmental conditions in the MEA to demand custom UGVs
The MEA unmanned ground vehicle market will demonstrate a growth rate of more than 10% through 2026. Harsh environmental conditions, such as extreme temperatures and continuous dunes, pose functional challenges to UGVs. Industry participants are providing customized solutions for such situations, supporting the market revenue.
Rising requirements for commercial UGVs in Asia Pacific
Participants dealing in the Asia Pacific market are engaged in offering products with a scope of operations in commercial activities. Regions dominating the commercial sector include Japan, Australia, and New Zealand. An abundance of natural resources, such as fertile land and oil reservoirs, are promoting the agriculture and oil & gas segments of the market.
Requirements to achieve short-term demand for combat UGVs in Russia
Russia unmanned ground vehicle market is predicted to experience over 15% gains during the forecast timeframe. Increasing focus of Russia to integrate combat UGVs in their existing fleets will support the market growth. Development of URAN-9 and advancements in BMP-3, T-72B3, and Armata reflects Russia’s plans to quickly develop semi-automatic remote-controlled combat UGVs.
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