Pune, India, April 08, 2021 (GLOBE NEWSWIRE) -- The global unmanned ground vehicles (UGV) market size is projected to reach USD 7,452.2 million by the end of 2026. Applications in defense sector have caught the eye of several investors from across the world. According to a report published by Fortune Business Insights, titled “Unmanned Ground Vehicles Market Size, Share and Global Trend by Mobility (Wheeled, Tracked, Hybrid, and Legged) By Size (Small, Medium, Large, Very Large, and Extremely Large) By Mode of Operation (Tethered, Tele-operated, 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 2,570.2 million and will exhibit a CAGR of 14.95% during the forecast period, 2019-2026.
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.
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List of Companies Profiled in Unmanned Ground Vehicles (UGV) Market Report are;
- 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
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.
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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 UGVs. 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.
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 unmanned grounded vehicles. 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.
Browse Detailed Summary of Research Report with TOC:
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Global Unmanned Ground Vehicles Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Mobility
- Market Analysis, Insights and Forecast – By Size
- Very Large
- Extremely Large
- Market Analysis, Insights and Forecast – By Mode of Operation
- Market Analysis, Insights and Forecast – By System
- Controller System
- Navigation System
- Power System
- Market Analysis, Insights and Forecast – By Application
- Law Enforcement
- Federal Law Enforcement
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia pacific
- The Middle East
- Rest of the World
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