Unmanned ground vehicle market size was valued at $1,497 million in 2016 is expected to reach at $3,358 million by 2023 with a CAGR of 11.1%.
PORTLAND, OR, UNITED STATES, October 5, 2021 /EINPresswire.com/ — Unmanned ground vehicle market size was valued at $1,497 million in 2016 is expected to reach at $3,358 million by 2023 with a CAGR of 11.1%.
The unmanned ground vehicle (UGV) is a mechanical machine that moves along the surface of ground whose task is to carry or transport something, it does not carry a human being. The UGV provides flexible robotic platform along with providing multipurpose mobility support. The major applications of the vehicles are in the defense sector it includes providing surveillance information, carry supplies, assists in explosive activation. Moreover, the vehicles are used in emergency services that include police, ambulance etc.
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Companies covered in this report study
• ARMTRAC LTD
• CLEARPATH ROBOTICS INC
• COBHAM PLC
• ENDEAVOR ROBOTICS
• GENERAL DYNAMICS CORPORATION
• HORIBA MIRA LTD
• ICOR TECHNOLOGY
• NORTHROP GRUMMAN CORPORATION
• RE2, INC
The unmanned ground vehicle has wide applications in the defense sector. These are looked as future combat systems for military purposes. For instance, the U.S. defense forces invest in Future Combat Systems (FCS) that include the designs and developments in reference to these systems. There are various programs taken up by defense, which include Robotic Follower Advanced Technology, which deals in UGV systems that are capable of following a manned lead vehicle. Moreover, other programs include joint robotic programs, such as man-portable UGVs to support light forces and special operations missions, focusing on reconnaissance during military operations in urban terrain.0
The report includes the study of the unmanned ground vehicle market focusing on various growth prospects and restraints, based on the regional analysis. The study highlights Porter’s Five Forces analysis for the market that comprises the impact of suppliers, competitors, new entrants, substitutes, and buyers.
Top Impacting Factors
Reduction in risk of human life
The major use of the UGV are in the defense sector. As these machines can be remotely operated these are sent ahead of the army platoon to examine the terrain, the technology allows to spot the enemy targets and thus neutralize them. Moreover, they are used to detect the explosives and detonate it, thereby reducing the chances of human casualty and increase mission performance.
Increased demand in civilian applications
The civilian operations include home usage and rescue operations. The home usage includes cleaning floors, harvesting crops etc. The machines are used in rescue operations such as in the case of a disaster. Moreover, the perimeter and border security needs have increased the demand in civilian applications.
Impressive vehicle combat performance
Increase in terrorism has created the need for impressive combat vehicle performance of UGV. The vehicles assist to counter Improvised Explosive Devices (IED) moreover they assist in countermine capabilities. Such functionalities have increased the vehicles combat performance thus fueling the growth for the UGV market size.
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Key Benefits Of Unmanned Ground Vehicle Market:
• The study provides an in-depth analysis of the unmanned ground vehicle market, with current and future trends to elucidate the imminent investment pockets.
• Information regarding key drivers, restraints, and opportunities coupled with their impact analysis is provided.
• Porter’s Five Forces analysis illustrates the potency of buyers and suppliers participating in the unmanned ground vehicle market.
• The quantitative analysis of the unmanned ground vehicle market from 2016 to 2023 is provided to elaborate the market potential.
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