Portland, OR, June 13, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the unmanned ground vehicle market generated $2.12 billion in 2020 and is expected to generate $6.04 billion by 2030, growing at a CAGR of 11.4% from 2021 to 2030. The report offers a detailed analysis of the changing trends in the market, value chain, major segments, key investment pockets, regional scenarios, and competitive landscape.
Rising demand for unmanned ground vehicles for civilian purposes and reduced risk of human life is driving the growth of the global market UGV market. However, reductions in defense budgets of developed economies, concerns over reliability and bandwidth, and limited vehicle battery life are hampering market growth. On the contrary, an increase in the demand for autonomous control systems and an increase in operational efficiency create new opportunities in the years to come.
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- The Covid-19 outbreak has had a significant effect on the global unmanned ground vehicle market, owing to the implementation of lockdown measures across the globe.
- The Covid-19 pandemic has created several obstacles for the unmanned ground vehicle market, including disruptions in the supply chain of raw materials and components, logistical challenges, and reductions in defense spending in many countries.
- Defense system manufacturers and service providers, however, have had to cut expansion and R&D spending to cope with declining defense industry revenues and operational performance.
The report offers detailed segmentation of the global Unmanned Ground Vehicle market based on size, mode of locomotion, application, operation, and region.
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On the basis of size, the small size segment held the highest market share in 2020, accounting for almost two-thirds of the total share, and is expected to maintain its leading status during the forecast period. However, the heavy duty segment is expected to grow at the fastest CAGR of 13.38% from 2021 to 2030.
Based on applications, the defense segment accounted for the largest share in 2020, contributing nearly three quarters of the global unmanned ground vehicle market, and is expected to maintain its leading position during the forecast period. However, the commercial segment is expected to show the highest CAGR of 12.52% from 2021 to 2030.
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Based on region, North America contributed the highest share in 2020, accounting for almost half of the total share, and is expected to maintain its dominant share in terms of revenue by 2030. However, l Asia-Pacific is expected to show the highest CAGR of 13.85% during the forecast period.
Key players of the global unmanned ground vehicle market covered in the research include Autonomous Solutions Inc. (ASI), Armtrac Inc., Clearpath Robotics Inc., General Dynamics Corporation, DOK-ING Ltd., GESAR INC., ICOR Technology, Horiba Mira Ltd., Teledyne FLIR LLC. and Northrop Grumman Corporation.
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. Pawan Kumar, CEO of Allied Market Research is essential to inspire and encourage everyone associated with the business to maintain high quality data and help customers in every way possible to achieve success. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.
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