The global unmanned ground vehicles (UGV) market has depicted considerable expansion in the recent years. This growth can be aptly attributed to the robust shift in the investments in the defense sector and the rising defense expenses observed since the last few years. While the U.S., China, France, Saudi Arabia, and Russia are depicting considerable influence over the global market, New Zealand, Japan, and Australia exert substantial hold in the commercial UGV business. The industry is also driven with the rapid number of advancements in sensor systems and the integration of numerous communication technologies.
As per Global Market Insights, Inc., the overall UGV market size is anticipated to cross USD 7 billion by 2026.
The communication and navigation segments, a part of the component landscape of unmanned ground vehicles industry, will exhibit maximum growth prospects through the coming years. The growth can be credited to the development of UGVs with extraordinary capabilities to lend support to open architecture.
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The launch of numerous communication technologies such as AI, IoT, and cloud computing, supported by powerful software will also boost unmanned ground vehicles market share from the navigation and communication segments.
North America has been claimed to crop up as an extremely lucrative investment hotspot for UGVs. One of the major reasons behind this prediction is the presence of huge industry players in the region, who have been actively making their presence felt across various defense exhibitions.
Rapid increase in the regional R&D budgets for UGVs is also a major factor boosting the regional expansion. For instance, the total budget allocation for UGV R&D activities in 2019 was around USD 343 million – which is close to 70% of the overall UGV budget allocation. As per estimates, North America unmanned ground vehicles market is likely to register a CAGR of 10% through 2026.
Among the hybrid, wheeled, tracked, and legged commutation types, the tracked segment is likely to gain substantial traction. Unmanned Ground Vehicles Market size from tracked segment was recorded at an appreciable USD 1 billion in 2019, driven by the robustly rising demand for numerous defense UGVs that could perform various operations on multiple terrains. As per estimates, tracked Unmanned Ground Vehicles Market size is anticipated to grow at a CAGR of 13% over 2020-2026.
Companies partaking in UGV industry space include Cobham plc, Lockheed Martin, Northrop Grumman Corporation, General Dynamics Corporation, etc. These firms have been concentrating on the development of novel technologies in UGVs and establishing R&D agreements with other industry players. For example, in February 2020, the Singapore Airshow 2020 witnessed Milrem Robotics launching its fifth gen THeMIS UGV.
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Also, in September 2019, a consortium of numerous companies submitted a proposal to the EC’s EDIDP (European Defence Industrial Development Programme) to develop multi-mission Unmanned Ground Vehicles Market.
As Industry 4.0 continues to impact industries worldwide and numerous government bodies are formulated with the intent to acquire and enhance UGVs, unmanned ground vehicles market trends are likely to depict a transformation.
Table of Contents (ToC) of the report:
Chapter 1. Methodology & Scope
1.1.1. Initial Data Exploration
1.1.2. Statistical Model And Forecast
1.1.3. Industry Insights And Validation
1.1.6. Methodology And Forecast Parameters
1.2. Data Sources
18.104.22.168. Paid Sources
22.214.171.124. Public Sources
Chapter 2. Executive Summary
2.1. Unmanned Ground Vehicles (Ugv) Industry 360º Synopsis, 2015 - 2026
2.2. Business Trends
2.3. Region Trends
2.4. Commutation Trends
2.5. Application Trends
2.6. Size Trends
2.7. Operation Trends
2.8. Component Trend
Chapter 3. Unmanned Ground Vehicles (Ugv) Industry Insights
3.2. Industry Segmentation
3.3. Industry Landscape, 2015 - 2026
3.4. Evolution Of Ugv Technology
3.5. Industry Ecosystem Analysis
3.6. Technology & Innovation Landscape
3.7. Regulatory Landscape
3.7.1. North America
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