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Unmanned Ground Vehicles Market is Expected to Reach USD 4215.8 Million By 2028

Reports And Data

Reports And Data

Unmanned Ground Vehicles Market Size – USD 2500 Million in 2020, Market Growth - CAGR of 6.7%, Market Trends- Extensive civilian and military applications

NEW YORK, NY, UNITED STATES, January 11, 2022 /EINPresswire.com/ -- Increasing deployment of Unmanned Ground Vehicles to perform ground surveillance, peacekeeping operations, urban street presence, checkpoint operations, and to improve military and police raids in urban areas are some key factors propelling market growth

The global Unmanned Ground Vehicles market size was USD 2,500 Million in 2020 and is expected to reach USD 4215.8 Million by 2028, at a CAGR of 6.7%, according to the latest report by Reports and Data. Market revenue growth is majorly driven by surging demand for Unmanned Ground Vehicles for military and law enforcement, as well as increasing scope for a range of commercial applications.

Unmanned Ground Vehicles are capable of carrying out various intense tasks, such as during firefighting operations, public safety, and logistics operations associated with medication delivery to patients in remote locations and areas. Advancements in technology have expanded the use of UGVs across many fields with more enhanced efficiency, safety, and performance across various applications, including civilian and military.

Increasing adoption of UGVs in homeland security and ISR operation applications, coupled with rise in R&D investments to further advance autonomous robotic technology will foster growth of the global Unmanned Ground Vehicles market revenue over the forecast period.

Major manufacturers of Unmanned Ground Vehicles 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.

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Some 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 be fitted 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 substitute human 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 identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/unmanned-ground-vehicles-market

For the purpose of this report, Reports and Data has segmented the global Unmanned Ground Vehicles market on the basis of size, operation mode, mobility, system, application, and region:

Size Outlook (Revenue, USD Billion; 2018-2028)

• Large
• Medium
• Small

Operation Mode Outlook (Revenue, USD Billion; 2018-2028)

• Autonomous
• Remotely Operated
• Tethered

Mobility Outlook (Revenue, USD Billion; 2018-2028)

• Wheeled
• Tracked
• Legged
• Hybrid

System Outlook (Revenue, USD Billion; 2018-2028)

• Payloads
• Navigation System
• Controller System
• Power System
• Others

Application Outlook (Revenue, USD Billion; 2018-2028)

• Commercial
• Military
• Law Enforcement

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Regional Outlook (Revenue, USD Billion; 2018-2028)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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Tushar Rajput
Reports and Data
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