Farmington, April 28, 2023 (GLOBE NEWSWIRE) -- The Global Unmanned Ground Vehicle Market Is Expected To Reach USD 2.8 Billion By 2022 And Is Expected To Reach USD 4.2 Billion By 2030, Growing At A CAGR Of 5.7% From 2023 To 2030.Key factors driving the growth of this market include The demand for autonomous systems for commercial and military applications will drive market expansion.
Autonomous unmanned ground vehicles are becoming increasingly popular in the defense and business sectors due to their versatility. In agriculture, these self-driving vehicles are used to precisely collect soil samples, perform mechanical weeding, manage irrigation, harvest crops, and fertilize them.
Request sample copy of report “Unmanned Ground Vehicles (UGV) Market Size, Share & Trends Estimation Report By Type Outlook (Sensors, Radar, Lasers, Camera, Articulated ARM & GPS), By Application Outlook (Agriculture, Chemical, Oil & Gas, Defense), Region and Forecasts, 2023 - 2030” published by Contrive Datum Insights.
Segmentation Overview:
By Application Outlook:
Based on end use, the market is segmented into commercial, military, and government & law enforcement sub segments. The military sector presently holds the largest market share, and it is anticipated that this trend will continue during the forecast period. The military's use of autonomous ground vehicles improves the efficiency of logistics and personnel deployment. These trucks can be used to transport injured personnel and heavy equipment away from the battlefield. It is anticipated that these factors will contribute to the expansion of the segment.
During the forecast period, the commercial sector is anticipated to grow at a rate of over 11.1% annually. This expansion is driven by commercial applications such as transportation, automotive, and healthcare, among others. AI and ML can also assist these devices in learning and adapting to their environment.
Regional Analysis:
The report forecasts revenue growth at the global, regional, and country levels from 2017 to 2030 and analyzes recent industry trends in each sub segment.
North America dominated the global market in 2021, with a market value of USD 1.02 billion, and is anticipated to maintain its dominance throughout the forecast period. The dominance of the region is attributable to the highest defense budget and rising expenditures on the acquisition of multipurpose military machines of the next generation. For instance, the U.S. Army awarded FLIR Systems a $31.6 million contract in April 2021 to construct the Man Transportable Robot System Increment II (MTRS Inc II). It detects, identifies, confirms, and disposes of explosives that are concealed.
Asia-Pacific is anticipated to experience the greatest market development over the forecast period. The dominance of the region is attributable to the highest defense budget and rising expenditures on the acquisition of military robotics of the next generation for numerous applications. This increase is due to India and China increasing their defense budgets. In addition, the rapid expansion of military power, the escalation of political strife between neighboring nations, and the rise of terrorism have led to an increase in demand for UGVs.
Europe exhibits a substantial growth rate during the forecast period. Its expansion is attributable to rising defense expenditures in nations such as the United Kingdom, Russia, Germany, France, and others. The Russian Ministry of Defense inked a contract for the prototype of the Shturm unmanned ground vehicle system, which is based on the T-72 main battle tank (MBT), in August 2021.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 5.7% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 4.2 Billion |
| By Type |
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| By Application |
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| By Companies |
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| Regions and Countries Covered |
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| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Restraining Factors:
As a result of less money being spent on defense and issues with bandwidth and dependability, the market will expand more slowly: Diverse nations' reductions in spending on research and development and the military retard the expansion of the market. Interruptions in bandwidth in both wireless and some tethered systems slowed the controller's response to the UGV. Due to the sluggish response time, the bandwidth has an impact on other vehicles that are connected to it. In addition, UGVs cannot determine where enemy soldiers are or provide a comprehensive description of an enemy residence. Consequently, the rising of the market is slowed.
Opportunity Analysis:
The development of UGVs with total autonomy: Fully autonomous unmanned ground vehicles (UGVs) have recently been introduced to the UGV industry. Using artificial intelligence and machine learning, UGVs with autonomous operation are created. Missions can be accomplished by autonomous UGVs without the assistance of a human operator. ISR (Intelligence, Surveillance, and Reconnaissance) and security operations are two prevalent applications for these UGVs in modern times. As a consequence of ongoing research that is expanding the vehicles' potential applications, the market for fully autonomous UGVs is expected to grow.
Key Segments Covered:
Top Market Players:
- Lockheed Martin
- Northrop Grumman
- BAE Systems
- General Dynamics
- Irobot
- Qinetiq
- Teledyne FLIR LLC.
- Cobham
- Nexter Group
- Dok-Ing
- Oshkosh
- Others
By Types:
- Sensors
- Radar, Lasers
- Camera
- Articulated ARM & GPS
By Applications:
- Agriculture
- Chemical
- Oil & Gas
- Defense
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific:(Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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