The global Unmanned Ground Vehicles market size was USD 2,500 Million in 2020 and is expected to reach USD 4215.8 Million at a CAGR of 6.7% in 2028. Surging demand for Unmanned Ground Vehicles for military, law enforcement, and commercial applications is projected to market revenue growth between 2021 and 2028.
Integration of Artificial Intelligence (AI) in unmanned vehicles and robots is resulting in rapid autonomy in military applications. A range of autonomous Unmanned Ground Vehicles are being manufactured that can function with the help of AI and environmental sensors with little to no human intervention. Advancements in technology have expanded the use of Unmanned Ground Vehicles across many fields and offer enhanced performance, efficiency, and safety across various applications, including civilian and military.
Countries such as the UK, Estonia, Russia, the US, and others are increasingly deploying Unmanned Ground Vehicles as force enablers and combat vehicles. As per recent trends, autonomous military vehicles are becoming increasingly smaller and smarter. They have advanced capabilities to undertake a range of tasks, including public safety, delivery of supplies, medications to patients in remote areas, and even firefighting operations. Surging demand for UGVs for commercial applications, including in the oil gas sector, fire fighting, agriculture, and others will foster market growth. Moreover, increasing adoption in homeland security and ISR operation applications, coupled with increasing RD investments to further advance autonomous ground vehicles will continue to support revenue growth of the global UGV market going ahead.
Get a FREE Report Sample with Table of Contents and Figures @ https://www.reportsanddata.com/sample-enquiry-form/3999
The research study comprises of vital information focusing on major market trends and estimated revenue growth rate. Additionally, the report highlights the market competition including the portfolios and strategic alliances and endeavors of the key competitors. It focuses on the mergers and acquisitions, joint ventures, partnerships, collaborations, product launches, brand promotions, and agreements, among others. The report also offers key insights about top companies in the market along with their company overview, business expansion plans, financial standing, production and manufacturing capacity, and global position.
Key companies operating in the market include: L3 Harris Technologies Inc., QinetiQ, Lockheed Martin, ICOR Technology, RE2, Autonomous Solutions, Cobham, Northrop Grumman, QinetiQ, Cobham PLC, BAE Systems, and Nexter System, among others. The report provides comprehensive details about the market with respect to overall revenue, sales and consumption, pricing trends, gross margins, growth rate, and market size. The report also provides an extensive analysis of key regions where the market has established its presence. The report covers major geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
Size Outlook (Revenue, USD Billion; 2018-2028)
Operation Mode Outlook (Revenue, USD Billion; 2018-2028)
- Remotely Operated
Mobility Outlook (Revenue, USD Billion; 2018-2028)
System Outlook (Revenue, USD Billion; 2018-2028)
- Navigation System
- Controller System
- Power System
Application Outlook (Revenue, USD Billion; 2018-2028)
- Law Enforcement
To get an exclusive discount on the report, visit @ https://www.reportsanddata.com/discount-enquiry-form/3989
Key Findings From the Report:
- Based on size, the small UGV segment accounted for 48.0% revenue share in 2020 and is expected to register steady growth over the forecast period. Small Unmanned Ground Vehicles are witnessing high demand as these can befitted with various additional components, such as night-vision camera, grippers, manipulators arms, motion detectors, CBRN sensors, and others.
- Based on operation mode, the autonomous Unmanned Ground Vehicles segment is expected to register fastest revenue growth rate of 7.3% over the forecast period. Superior capabilities associated with these robotic systems to substitutehuman soldiers and personnel in critical missions, including for safeguarding urban streets, locating terrorists, patrolling areas with minimum attack protection, clearing pathways of improvised explosive devices, and others will boost revenue growth of this segment.
- On the basis of application, the military segment accounted for 45.0% revenue share in the UGV market in 2020 and is expected to maintain its dominance over the forecast period. Extensive utilization of UGVs in military applications, including for mine clearance activities, and exploration and termination of buried landmines is driving revenue growth of this segment.
- Europe is expected to contribute significantly to the global UGV market in terms of revenue over the forecast period on account of surging demand for UGV from countries in Europe, including France, Germany, and the UK
To Get This Report at a Lucrative Price, Click @ https://www.reportsanddata.com/request-customization-form/3999
Thank you for reading our report. To know more about customization options, please get in touch with us. Our team will ensure the report is tailored to suit your requirements.