The Unmanned Ground Vehicles (UGV) Market is projected to grow from USD 2.7 billion in 2018 to USD 7.0 billion by 2025, at a CAGR of 14.81% during the forecast period. Factors, such as the need for increasing operational efficiency, reduced human intervention, and growth in terrorist activities around the world are expected to drive the market. Factors such as limited reliability of unmanned ground vehicles on the field and the unpredictable environments during missions may inhibit the growth of the market.
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The military application segment is projected to grow at the highest CAGR during the forecast period
Based on application, the UGVs market has been segmented into commercial, military, law enforcement and federal law enforcement. The military application segment is projected to grow at a higher CAGR during the forecast period as compared to the commercial segment. The growth of the military segment can be attributed to the rising automation in various military applications such as ISR, EOD, transportation, and combat support.
The legged segment leads the market and is estimated to continue during the forecast period
Based on mobility, the UGVs market has been segmented into wheeled, tracked, legged, and hybrid. The legged segment leads the market and is estimated to continue to lead during the next five years, as these UGVs are better suited for rough and unpredictable terrains and are being increasingly used for critical missions.
The small segment expected to be the highest-growing segment during the forecast period
Based on size, the UGVs market is segmented into small, medium, large, very large, and extremely large. The small segment leads the market and is estimated to be the highest-growing segment during the next five years, as small UGVs are used for most domestic applications and intelligence, surveillance and reconnaissance (ISR) applications in the defense sector.
The autonomous segment is expected to lead the UGVs market during the forecast period
Based on mode of operation, the UGVs market is segmented into tethered, teleoperated, and autonomous. The autonomous segment leads the market, as autonomous UGVs has significant potential to be integrated into various commercial, military, law enforcement and federal law enforcement applications. The tethered segment is expected to be the highest-growing segment during the next five years, as tethered operated UGVs are expected to be used for applications where the uninterrupted power supply is needed. Moreover, many countries are also investing in the development of autonomous troops for the army.
Asia Pacific to account for the fastest-growing market for UGVs during the forecast period
The Asia Pacific UGVs market is projected to grow at the highest rate during the forecast period. Countries in this region, such as India and China, have increased their defense budgets and are investing in the development and procurement of advanced systems for military operations. Advancements in manufacturing capabilities of the emerging economies in this region will drive the market.
Key Market Players
Key players profiled in the UGVs market report include QinetiQ Group Plc (UK), Northrop Grumman (US), Lockheed Martin (US), iRobot Corp (US), and Oshkosh Corporation (US), among others.
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