Global Unmanned Ground Vehicle Market to Reach to $2.86 Bn by 2024

According to a new market intelligence report titled "Global Unmanned Ground Vehicle Market - Analysis and Forecast 2019-2024", the unmanned ground vehicle market registered revenue of $1.01 billion in 2018 and is projected to grow at a CAGR of 19.26% during the forecast period from 2019 to 2024. The market is expected to reach $2.86 billion by 2024.

The market is currently witnessing a high growth rate, owing to the rising expenditure and modernization of the defense industry.  Furthermore, the increasing capital investment for robotics technologies, especially in the developing economies, is propelling their demand. Defense and security and commercial end users have witnessed an increase in demand for unmanned ground vehicles due to the rising number of terrorist activities around the globe.

In addition, the acceleration in venture capital investment for robotics technologies and the introduction of Industry 4.0 across multiple sectors are some of the major factors expected to create lucrative opportunities for the global unmanned ground vehicle market in the coming five years.

According to Sudheer Uniyal, Lead Analyst, “The increasing demand for unmanned ground vehicle across different end users is forcing the UGV manufacturers to develop products with more advanced technologies. Moreover, the increasing demand for operational efficiency, growth in terrorist activities around the world, and demand for autonomous control systems are expected to drive the market.”

The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and technological developments. It also includes a competitive analysis of the leading players in the industry, including company overview, financial summary, and SWOT analysis. The overall market has been segmented into technology, applications, platforms, end users, and region. The report also includes a comprehensive section on the regional analysis for North America, Europe, Asia-Pacific, and Rest-of-the-World.

Some of the key players in the global unmanned ground vehicle market are General Dynamics, Lockheed Martin Corporation, Northrop Grumman Corporation, Rheinmetall Group, Israel Aerospace Industries Ltd., ECA Group, Endeavor, Harris Corporation, Thales Group, QinetiQ Group, Clearpath Robotics, Oshkosh Corporation, Redsquared, and Seegrid.

Key Questions Answered in the Report:

  • How much revenue was generated by the global unmanned ground vehicle in 2018, and how much is it expected to reach by 2024?
  • What are the major trends, market drivers, challenges, and opportunities that are influencing the global unmanned ground vehicle market?
  • What are the key strategies and developments that are being undertaken by the companies operating in the market?
  • What is the patent scenario in the global unmanned ground vehicle market, as on date?
  • How much revenue was generated by the segments and sub-segments of the global unmanned ground vehicle market during the forecast period from 2019 to 2024:
    • on the basis of mobility type, including wheeled, tracked, hybrid, and legged
    • on the basis of mode of operation, including tele-operated and autonomous
    • on the basis of size, including small (10-200 lbs), medium (200-500 lbs), large (500-1000 lbs), and very large (above 1000 lbs)
    • on the basis of system, including payloads, navigation and control system, power system, and others
    • on the basis of end user, including defense and security, and commercial
    • on the basis of region, including North America, Europe, Asia-Pacific, Rest-of-the-World (RoW)
  • Which are the key players in the global unmanned ground vehicle market, and what are the new strategies adopted by them to make a mark in the industry?
  • What is the competitive strength of the key leading players in the unmanned ground vehicle market?

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Source: ASDReports - Market Research
Date: Oct 11, 2019