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  • Unmanned Ground Vehicle (UGV) Market is poised to reach USD 2.63 Billion by 2021

     



    (Aviation-NewsWire.Com, May 19, 2018 ) The unmanned ground vehicle (UGV) market is projected to grow from USD 1.49 Billion in 2016 to USD 2.63 Billion by 2021, at a CAGR of 12.14% 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 unmanned ground vehicle (UGV) market.

    Explore More Information about report @ https://www.researchcosmos.com/reports/global-unmanned-ground-vehicle-ugv-market-analysis-and-forecast-to-2022-growth-opportunity-asses/7834786

    Based on application, the unmanned ground vehicle (UGV) market is segmented into commercial and defense segments. The commercial application segment is projected to grow at the highest CAGR during the forecast period, primarily driven by the rising automation in various commercial and applications such as agriculture, manufacturing, transportation, and domestic applications, among others.

    The unmanned ground vehicle (UGV) market, based on mobility, is segmented into wheeled and tracked UGVs. The tracked UGV 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.

    Based on size, the unmanned ground vehicle (UGV) market is segmented into micro UGV, small UGV, medium UGV, and large UGV. The small UGV 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.

    Based on mode of operation, the unmanned ground vehicle (UGV) market is segmented into tethered, tele-operated, semi-autonomous, and autonomous. The tele-operated segment leads the market as it is a mature technology and has been tested on field for several years. The autonomous segment is estimated to be the highest growing segment during the next five years, as autonomous UGVs is the future trend and many countries are investing in the development of autonomous troops for the army.

    Based on component, the unmanned ground vehicle (UGV) market is segmented into hardware and software. The hardware segment leads the market, while the software segment is estimated to be the highest growing segment during the next five years, as the development of autonomous UGVs will drive the software technology for UGV to grow in the coming years.

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    The Asia-Pacific unmanned ground vehicle (UGV) 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 growth of unmanned ground vehicle (UGV) market in the commercial sector.

    Factors such as limited reliability of unmanned ground vehicles on field and the unpredictable environments during missions may inhibit the growth of the unmanned ground vehicles market.

    Key players profiled in the unmanned ground vehicles (UGV) market report include QinetiQ Group Plc (U.K.), Northrop Grumman (U.S.), Lockheed Martin (U.S.), iRobot Corp (U.S.), and Oshkosh Corporation (U.S.), among others. New product launch was the key strategy adopted by the industry players to achieve growth in the unmanned ground vehicles market. This strategy accounted for a major share of the total growth strategies adopted by the leading players in 2016. QinetiQ North America, in association with Milrem, developed Titan unmanned ground vehicle. It is a state-of-the-art modular and hybrid UGV and was launched at the 2016 Association of the U.S. Army event.

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    Source: EmailWire.Com

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