HOME Research Insight Unmanned Ground Vehicle Market - Global Trends & Forecasts to 2020

Unmanned Ground Vehicle Market - Global Trends & Forecasts to 2020

The Unmanned Ground Vehicle (UGV) market is estimated to be $1.51 billion in 2014 and is expected to reach $8.26 billion by 2020 to registera CAGR of 32.72% from 2014 to 2020. North America largely contributes to the global UGV market and the Asia-Pacific region is expected to be the potential market for commercial and defense UGVs during the forecast period.

The Unmanned Ground Vehicle market is moved by the reduced risks associated with the use of UGVs and better technological innovations that have created a demand for UGVs in performing complex operations withthe least human intervention and better safety. The success of UGVs in combat performances proves the reliability of UGVs in emergency situations, thus triggering the demand for UGVs by the Military of Defense. Reduced defense budgetsin the North American and European countries hamper the growth of this market. The limited endurance for batteries and an incapability to perform longer duration missions is expected to restrainthe UGV market. Investments are made to increase operational efficiency and provide complete autonomy.

The UGVs’ CBRNE sensors and mine detector payloads prove to be a huge market for UGVs. Communication with the robots proves to be the biggest challenge for the UGV market. The tele-operated UGVs contribute the largest share of 84% tothe global UGV market. High resolution cameras and navigation systems continue to be prominent payloads for UGVs.

iRobot, Northrop Grumman, and Qinetiq are the key players for the UGVs globally and account formore than 50% of the total market share. Companies such as Lockheed Martin, Cobham (U.S.), ST engineering (Singapore), G-Nius (Russia), and DO-KING (U.K) are the other prominent players that occupya significant market share ofthe Unmanned Ground Vehicle market. The 3D immersive visualization system is a new advancement in UGVs that providea better vision of the terrain during operations and is expected to be the future for UGV cameras.

Related Reports:

Unmanned Ground Vehicle Market by Application (Commercial, Defense, & Homeland Security), Technology (Tethered, Tele-operated, Semi-autonomous, Fully-autonomous), Payload (Fixed, Role Specific), Type (Locomotion, Size, Weapons, Energy Source) & by Geography (North America, Europe, Asia-Pacific, the Middle East, Latin America, Africa) - Forecasts & Analysis 2014–2020

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