Unmanned Ground Vehicle Market Overview:
Unmanned Ground Vehicle (UGV) Market is expected to reach at $3,358 million by 2023 with a CAGR of 11.1%. The Unmanned Ground Vehicle (UGV) Market is a mechanical machine that moves along the surface of ground whose task is to carry or transport something, it does not carry a human being. The UGV industry provides flexible robotic platform along with providing multipurpose mobility support. The major applications of the vehicles are in the defense sector; it includes providing surveillance information, carry supplies, assists in explosive activation. Moreover, the vehicles are used in emergency services that include police and ambulance.
Reduction in risk of human life and impressive vehicle combat performance drive the market. Moreover, increased demand in civilian applications, which includes homeland security and commercial purpose also fuel the growth. The cuts in defense budgets by the developed countries and the restricted battery life of the vehicles limit the market growth. However, rise in demand to increase operational efficiency and demand for autonomous control systems are some of the lucrative market opportunities for the unmanned ground vehicle market.
The report includes the study of the unmanned ground vehicle market is focusing on various growth prospects and restraints, based on the regional analysis. The study highlights Porter’s Five Forces analysis for the market that comprises the impact of suppliers, competitors, new entrants, substitutes, and buyers.
The unmanned ground vehicle market is dominated by key players that includes Armtrac Limited, Northrop Grumman Corporation, DOK-ING, Cobham plc., HORIBA MIRA Ltd., ICOR Technology, General Dynamics Corporation, RE2, Inc, Clearpath Robotics Inc and ENDEAVOR ROBOTICS.
The unmanned ground vehicle market is segmented on the basis of size, mode of locomotion, operation, application, and geography. On the basis of size, the market is divided into small, lightweight, medium, and heavy. The mode of locomotion includes tracked, wheeled, and legged. On the basis of operation, the market is classified into teleoperated and automated. Based on application, the unmanned ground vehicle market is bifurcated into defense and commercial. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Unmanned Ground Vehicle Market Segmentation
The graph below signifies the growth potential of the unmanned ground vehicle market by size. Among size types, the small UGV type segment is projected to grow at the highest CAGR owing to the increase in operational capabilities of these UGVs.
Key Investment Pockets
Reduction in Risk of Human Life
The major use of the UGV are in the defense sector. As these machines can be remotely operated these are sent ahead of the army platoon to examine the terrain, the technology allows to spot the enemy targets and thus neutralize them. Moreover, they are used to detect the explosives and detonate it, thereby reducing the chances of human casualty and increase mission performance.
Increased Demand in Civilian Applications
The civilian operations include home usage and rescue operations. The home usage includes cleaning floors and harvesting crops. The machines are used in rescue operations such as in the case of a disaster. Moreover, the perimeter and border security needs have increased the demand in civilian applications.
Impressive Vehicle Combat Performance
Increase in terrorism creates the need for impressive combat vehicle performance of UGV. The vehicles assist to counter Improvised Explosive Devices (IED) moreover they assist in countermine capabilities. Such functionalities have increased the vehicles combat performance thus fueling the growth for the market.
- The study provides an in-depth analysis of the unmanned ground vehicle market, with current and future trends to elucidate the imminent investment pockets.
- Information regarding key drivers, restraints, and opportunities is provided.
- Porter’s Five Forces analysis illustrates the potency of buyers and suppliers participating in the market.
- The quantitative analysis of the market from 2016 to 2023 is provided to elaborate the market potential.
Unmanned Ground Vehicle Market Key Segments:
The unmanned ground vehicle market is segmented based on type, security type, and geography.
By Mode Of Locomotion
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players Profiled in the Report
- Armtrac Limited
- Northrop Grumman Corporation
- Cobham plc.
- HORIBA MIRA Ltd.
- ICOR Technology
- General Dynamics Corporation
- RE2, Inc
- Clearpath Robotics Inc
- ENDEAVOR ROBOTICS