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Unmanned Ground Vehicle Market to Exhibit 6.82% CAGR during 2021-2028; Increasing Prevalence of Road Accidents Worldwide to Augment Market Growth

November 09, 2021 | Aerospace & Defense

The global unmanned ground vehicle market size is expected to gain momentum by reaching USD 4.34 billion by 2028 due to the increasing demand from the defense sector in surveillance activities. This information is provided by Fortune Business Insights in its report titled “Unmanned Ground Vehicle Market Size, Share & COVID-19 Impact Analysis, By Mobility (Wheeled, Tracked, Legged, and Hybrid), By Size (Small, Medium, Large, Very Large, and Extremely Large) By Mode of Operation (Tethered, Teleoperated, and Autonomous), By System (Payload, Controller System, Navigation System, Power System, and Others), By Application (Military, Commercial, Law Enforcement, and Federal Law Enforcement), and Regional Forecast, 2021-2028”, mentions that the market stood at USD 2.68 billion in 2020 and is projected to exhibit a CAGR of 6.82% during the forecast period. 


U.S. Army, Marine Corps, and Air Force Sign Contract with FLIR Systems for Developments of 600 Medium-sized Centaur UGV


In May 2021, the U.S. Army, Marine Corps, and Air Force made a contract worth USD 70 million with FLIR Systems to develop 600 units of the medium-sized Centaur unmanned ground vehicles. These vehicles can also be used for explosive ordnance disposal missions.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/unmanned-ground-vehicles-market-102525


Growing demand for Autonomous Systems for Commercial and Defense Applications to Propel the Market Growth


Rising demand for autonomous UGVs from the defense and commercial sectors is expected to drive the growth of unmanned ground vehicles. These autonomous vehicles are used in various applications such as soil sampling in the agricultural sector, mechanical weeding, irrigation management, crop harvesting, and precision spraying. Furthermore, an UGV is also used in defense forces for combat support, Intelligence, Surveillance, Reconnaissance (ISR) activities. These factors are likely to drive the unmanned ground vehicle market growth.


Key Players Focus on Agreements and Contracts to Brighten Their Market Prospects


The market is experiencing healthy competition among key players focusing on developing and launching new products to widen their product portfolio and boost sales revenues. In addition, the other players are trying to maintain their position in the market by adopting strategies such as merger and acquisition, partnership, collaboration, new launches, and agreements that will contribute to the market's growth during the forecast period.


Industry Development



  • April 2021 – The U.S. Army made a contract worth USD 31.6 million with FLIR Systems. This contact was made to build the Man Transportable Robot System Increment II (MTRS Inc. II) that can be used to identify and dispose of bombs.


List of Key Players Profiled in the Report



  • ASELSAN A.S. (Turkey)

  • BAE Systems (U.K)

  • General Dynamics Corporation (U.S.)

  • L3Harris Technologies, Inc. (U.S.)

  • Lockheed Martin Corporation (U.S.)

  • Northrop Grumman (U.S.)

  • Oshkosh Defense, LLC An Oshkosh Corporation Company (U.S.)

  • QnetiQ (U.K)

  • Rheinmetall AG (Germany)

  • Teledyne FLIR LLC (U.S.)


Further Report Findings



  • North America is expected to hold the largest unmanned ground vehicle market share during the forecast period. This rise in market position is attributable to the presence of prominent market players such as Northrop Grumman, Lockheed Martin Corporation, and General Dynamics. The region’s market stood at USD 903.3 million in the region. 

  • Europe is expected to showcase a significant rise due to rising defense expenditure from Russia, the U.K., Germany, and others. Additionally, the presence of key players such as BAE Systems, HORIBA MIRA Ltd, QinetiQ Group Plc, and others are fueling the regional market.

  • Based on mobility, the market is segmented into wheeled, tracked, legged, and hybrid. Out of these, the tracked segment held the largest market share in 2020. This factor is attributable to the high power compared to wheeled UGVs.


Table of Segmentation





















































  ATTRIBUTE



  DETAILS



Study Period



2017-2028



Base Year



2020



Forecast Period



2021-2028



Historical Period



2017-2019



Unit



Value (USD Billion)



Segmentation



Mobility; Size; Mode of Operation; System; Application, and Geography



By Mobility



  • Wheeled

  • Tracked

  • Hybrid

  • Legged



By Size



  • Small (10-200 lbs)

  • Medium (200 - 500 lbs)

  • Large (500 - 1000 lbs)

  • Very Large (1000 – 2000 lbs)

  • Extremely Large (>2000 lbs)



By Mode of Operation



  • Tethered

  • Teleoperated

  • Autonomous



By System



  • Payload

  • Controller System

  • Navigation System

  • Power System

  • Others



By Application



  • Military

  • Commercial

  • Law Enforcement

  • Federal Law Enforcement 



By Geography


 




  • North America (By Mobility, Size, Mode of Operation, System, Application, and Country)

    • U.S. (By Mobility, Size, Mode of Operation, System, Application)

    • Canada (By Mobility, Size, Mode of Operation, System, Application)



  • Europe (By Mobility, Size, Mode of Operation, System, Application, and Country)

    • U.K. (By Mobility, Size, Mode of Operation, System, Application)

    • Germany (By Mobility, Size, Mode of Operation, System, Application)

    • France (By Mobility, Size, Mode of Operation, System, Application)

    • Russia (By Mobility, Size, Mode of Operation, System, Application)

    • Rest of Europe (By Mobility, Size, Mode of Operation, System, Application)



  • Asia Pacific (By Mobility, Size, Mode of Operation, System, Application, and Country)

    • Japan (By Mobility, Size, Mode of Operation, System, Application)

    • China (By Mobility, Size, Mode of Operation, System, Application)

    • India (By Mobility, Size, Mode of Operation, System, Application)

    • Australia (By Mobility, Size, Mode of Operation, System, Application)

    • South Korea (By Mobility, Size, Mode of Operation, System, Application)

    • Rest of Asia Pacific (By Mobility, Size, Mode of Operation, System, Application)



  • Middle East (By Mobility, Size, Mode of Operation, System, Application, and Country)

    • UAE (By Mobility, Size, Mode of Operation, System, Application)

    • Saudi Arabia (By Mobility, Size, Mode of Operation, System, Application)

    • Israel (By Mobility, Size, Mode of Operation, System, Application)

    • Turkey (By Mobility, Size, Mode of Operation, System, Application)

    • Rest of the Middle East (By Mobility, Size, Mode of Operation, System, Application)



  • Rest of the World (By Mobility, Size, Mode of Operation, System, Application, and Sub-Region)

    • Latin America (By Mobility, Size, Mode of Operation, System, Application)

    • Africa (By Mobility, Size, Mode of Operation, System, Application)




Unmanned Ground Vehicles (UGV) Market
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