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Market Size – USD 3.10 Billion in 2021, Market Growth – at a CAGR of 7.1%, Market Trends – Advancements in the development of smart robots for warfare operation

VANCOUVER, BC, CANADA, November 10, 2022 /EINPresswire.com/ -- The Unmanned Ground Vehicle (UGV) market size reached USD 3.10 Billion in 2021 and is expected to register a revenue CAGR of 7.1% during the forecast period to the latest analysis by Emergen Research. Increased demand for UGVs in civilian applications is one of the key factors driving market revenue growth. Civilian services include home use and rescue missions. Cleaning floors and harvesting crops are examples of home utilization. Unmanned Ground Vehicles (UGVs) are employed in rescue missions, such as in the event of a disaster. The requirement for perimeter and border protection has raised the demand for civilian applications. In addition, autonomous UGVs are used to detect persons and analyze catastrophe damage during search and rescue operations. The environment can harm humans, such as exposure to hazardous compounds and radioactive radiation during natural disasters. Such dangerous circumstances are effectively dealt with the support of autonomous UGVs, which enable fast location of victims, rapid evaluation of losses, and prompt operations in the affected regions without risking human safety. Increasing advancement in UGVs is a key trend driving the growth of the market. The Department of Science and Technology (DST) has approved a budget of Rs. 135 crore for the establishment of India's first autonomous navigation system testbed (Terrestrial and Aerial).

However, defense budget reductions and challenge regarding bandwidth availability is the factor that is expected to hamper market revenue growth to some extent during the forecast period. Reduced defense budgets by several governments throughout the world and decreased investment in research and development hamper the market growth. Interruptions in the wireless solutions' bandwidth led the controller's reaction time to the real UGV to be delayed. Because of the sluggish reaction time, the bandwidth impacts other networked cars. In addition, the development of UGVs remains difficult and problematic. Many variables are engaged in raising societal implications, and technological and ethical problems due to its autonomous nature. As a result of the pandemic's reduction in defense funding, countries such as India, South Korea, Russia, and Thailand have slowed or halted their defense spending in the AV industry. Moreover, one of the most significant obstacles to autonomous vehicles is technological innovation, which is still not at a point where the perception of the surroundings is completely predictable, and there are still numerous unknown risks.

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Some Key Highlights from the Report

The wheeled segment revenue is expected to increase at a steady rate throughout the forecast period, owing to the increase in demand for wheeled mobile robots for activities where the surface is expected to be relatively even and with fewer impediments
Autonomous segment accounted for significant revenue share in 2021. The autonomous mode provides self-sufficiency, allowing them to conduct activities and carry out operations without the need for human interaction, and thus it is expected to drive revenue growth of the segment.
The small UGVs segment revenue is expected to register a steady growth rate during the forecast period. Small UGVs can be outfitted with a variety of payloads, including night-vision cameras, Chemical, Biological, Radioactive, and Nuclear (CBRN) sensors, motion detectors, manipulator arms, and grippers.
The market in the Asia Pacific is expected to register a considerably rapid growth rate in the global Unmanned Ground Vehicle (UGV) market over the forecast period as a result of the regions’ increased technological progress and deployment.
 Top Leading Key Players are:

Northrop Grumman Corporation, Lockheed Martin Corporation, BAE Systems plc, QinetiQ Ltd., RE2 Robotics Inc., Cobham PLC., Nexter System, ASI Mining LLC., Autonomous Solutions, Inc., and L3 Harris Technologies Inc.

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Emergen Research has segmented the unmanned ground vehicle market on the basis of mobility, operation mode, system, size, application, and region:

Mobility Outlook (Revenue, USD Billion; 2019–2030)
Wheeled
Tracked
Legged
Hybrid
Operation Mode Outlook (Revenue, USD Billion; 2019–2030)
Autonomous
Tethered
Remotely-Operated
System Outlook (Revenue, USD Billion; 2019–2030)
Payloads
Navigation System
Controller System
Power System Others
Application Outlook (Revenue, USD Billion; 2019–2030)
Military
Commercial
Law Enforcement
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How will this Report Benefit you?

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What Questions Should You Ask before Buying a Market Research Report?

• How is the Unmanned Ground Vehicle market evolving?

• What is driving and restraining the Unmanned Ground Vehicle market?

• How will each Unmanned Ground Vehicle submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2030?

• How will the market shares for each Unmanned Ground Vehicle submarket develop from 2022 to 2030?

• What will be the main driver for the overall market from 2022 to 2030?

• Will leading Unmanned Ground Vehicle markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?

• How will the market shares of the national markets change by 2030 and which geographical region will lead the market in 2030?

• Who are the leading players and what are their prospects over the forecast period?

• What are the Unmanned Ground Vehicle projects for these leading companies?

• How will the industry evolve during the period between 2020 and 2030? What are the implications of Unmanned Ground Vehicle projects taking place now and over the next 10 years?

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