The global unmanned ground vehicles market share is expected to showcase exponential growth by reaching USD 7.45 billion by the end of 2026 while exhibiting a CAGR of 14.95% during the forecast period The increasing investment in the R&D of the product will have a positive impact on the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Unmanned Ground Vehicles (UGV) Market Size, Share and Industry Analysis, By Mobility (Wheeled, Tracked, Hybrid, and Legged), 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, 2019-2026,” the market was worth USD 2.57 billion in 2018
Unmanned ground vehicles(ugv) are vehicles that operate without the presence of any man inside the actual vehicle. It operates through on the basis of an integrated system that is built through an amalgamation of technologies. These vehicles are inclusive of various sensors that are used for operating in several conditions. Recent technological advancements have allowed widespread product applications. They are used in military as well as civilian purposes across the world. The growing demand for UGVs is consequential to the increasing product applications across diverse industry verticals. Applications in military and defense purposes have particularly caught the eye of several investors. Moreover, increasing investments in technological interventions have yielded products with high efficiency and flexibility. Contributions from government agencies as well as private organizations in the development of UGVs will open up a huge potential for the growth of the autonomous unmanned ground vehicle market in the coming years.
Fortune Business Insights profiles some of the prominent companies operating in the unmanned ground vehicles market. They are as follows:
- ASELSAN A.S.
- Autonomous Solutions Inc.
- BAE Systems
- Clearpath Robotics Inc.
- Cobham Limited
- FLIR Systems, Inc.
- General Dynamics Corporation
- L3Harris Technologies, Inc.
- Northrop Grumman Corporation
- Oshkosh Defense, LLC An Oshkosh Corporation Company
- Rheinmetall AG
QinetiQ Bags $152 Million Contract from the US Army for Developing Small UGVs
Due to the increasing applications in military and defense activities, governments, as well as defense organizations across the world, are looking to collaborate with respective vendors. Advancements in UGV have been consequential to the use of modern concepts and low-cost technologies. Moreover, the involvement of large scale companies, with exceptional technologies at their disposal will have a direct impact on market growth. In March 2019, QinetiQ announced that it has received a contract from the US army for the development of a new UGV. The company bagged a contract worth USD 152 million for manufacture of small UGVs. QinetiQ’s latest contract with the US Army will bode well for the market in the coming years.
We employ iterative and comprehensive research techniques focusing on minimizing deviance. We use a combination of top-down and bottom-up approaches for estimating and segmenting quantitative aspects of the parents market. At the same time, data triangulation is used to look at the market from three perspectives. Simulation models were used to gather data about the market forecasts and estimates.
FLIR Systems Received a $152 Million Contract from the US Army Manufacturing of 350 UGVs
The report encompasses several factors that have contributed to the growth of the market in recent years. Owing to the increasing applications of UGVs in diverse industry verticals, governments of several countries across the world are looking to approach UGV manufacturers with custom requirements. In March 2019, FLIR Systems announced that it has bagged a contract from the US Army. The contract was worth USD 152 million and is aimed at the development of 350 ugv unmanned ground vehicle. FLIR’s latest collaboration with the US Army will not just benefit the company but will have a direct impact on the growth of the market in the coming years.
North America to Emerge Dominant; Presence of Several Large Scale Companies to Aid Growth
The report analyzes the ongoing unmanned grounded vehicles market trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, the market in North America is likely to account for the highest UGV market share in the coming years. The presence of several large scale companies in several countries across this region will aid the growth of the market. As of 2018, the market in North America was worth USD 899.5 million and this value is likely to increase further in the coming years. The market in Asia Pacific will also witness a considerable growth rate in the coming years, accounting to the growing applications of the product in the defense sector.
Unmanned Ground Vehicles (UGV) Geographic Market Analysis:
This research study draws on multiple layers of data including business analysis (industry trends), high-level market share analysis, supply chain analysis, and brief company profiles that together provide and analyze fundamental perspectives on the competitive landscape. High growth business growth trends and segments, high growth countries, market forces, controls, market drivers, market restrictions and drivers, and restraints. This is the most recent study that includes a strategic assessment as well as an in-depth review of the market plans, approaches, brands and manufacturing capabilities of the world’s leading industry leaders.
– North America (USA, Canada, Mexico)
– Europe (Great Britain, France, Germany, Spain, Italy, Central and Eastern Europe, CIS)
– Asia Pacific (China, Japan, South Korea, ASEAN, India, rest of Asia Pacific)
– Latin America (Brazil, rest of LA)
– Middle East and Africa (Turkey, CCG, rest of the Middle East)
March 2019: QinetiQ announces that it has signed a contract with the United States Army for the development of a new small UGV. The contract is said to be worth USD 152 million.
Unmanned ground vehicles are automobiles that do not require a human presence inside the vehicle. These vehicles are incorporated with modern technologies that are integrat6ed with sensors and similar peripherals. Applications of UGVs in diverse industry verticals including agriculture, transport, and military & defense. Technological advancements have been pivotal to the growth of the market. Accounting to this, several companies are looking to invest huge sums towards developing technologically sound ugv. The demand for these products is rising constantly, owing to the exceptional properties that they possess. The presence of several large scale companies across the world has opened up massive potential for the growth of the market in the foreseeable future.
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