Unmanned Ground Vehicle Market is to Witness Significant Growth between 2020-2028 with leading players QinetiQ Group Plc, Northrop Grumman, Lockheed Martin, iRobot Corp, and Oshkosh Corporation

A recent report published by QMI on unmanned ground vehicle market is a detailed assessment of the most important market dynamics. After carrying out thorough research of unmanned ground vehicle market historical as well as current growth parameters, business expectations for growth are obtained with utmost precision. The study identifies specific and important factors affecting the market for unmanned ground vehicle during the forecast period. It can enable manufacturers of unmanned ground vehicle to change their production and marketing strategies in order to envisage maximum growth.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1) QinetiQ Group Plc
2) Northrop Grumman
3) Lockheed Martin
4) iRobot Corp
5) Oshkosh Corporation

According to the report, the unmanned ground vehicle market is estimated to register substantial growth during the forecast period owing to increasing demand from various applications during the forecast period. An unmanned ground vehicle is used in critical missions where it cannot be possible to have a human operator present as it is dangerous or impossible. These are similar in function to the underwater vehicles and UAVs.

Segmentation for better understanding of this market and its growth prospects

This market is segmented based on the mobility, operation mode, and the application. Based on the mobility, it is segmented as wheeled, tracked, hybrid, and legged. Among the various types of mobility, the legged type is the most used. It is because these UGVs are more suitable for any unpredictable, rough and rocky terrains. In every application, the autonomous mode UGV is being used. Also, there has been a heavy investment from various countries for making use of these for the military.

By applications, it is divided as military, commercial and others. The military application segment is anticipated to grow at a fast pace in comparison to the other segments.

Factors that will have a significant impact on the market growth are:

o Need for increased operation efficiency
o Growth in terror threats worldwide

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Important Developments:

o In March 2019, The US Army contracted QinetiQ (The US) for the CRS-I program worth 429 Million USD
o In November 2018, The US Army signed a contract with Oshkosh Corporation (The US) for manufacturing JLTV for 6.7Billion USD
o In July 2018, Dok-ing (Croatia ) and Israel Aerospace Industries collaborated to produce CBRNE UGV

Insights about regional distribution of market:

The market has been segmented in major regions to understand the global development and demand patterns of this market. For unmanned ground vehicle market, the segments by region are for North America, Asia Pacific, Western Europe, Eastern Europe, Middle East, and Rest of the World. During the forecast period, North America, Asia Pacific and Western Europe are expected to be major regions on the unmanned ground vehicle market.

North America and Western Europe have been dominant players in this market with the presence of major companies which have a strong infrastructure to boost aerospace & defense sector. In addition, some of the major countries like the US, France, UK, and Canada has been global exporters of aerospace & defense technologies due to established research & development centers, and others. Also, some of the major companies operating in unmanned ground vehicle market are headquartered in these regions.

The Asia Pacific region is estimated to register fastest growing unmanned ground vehicle market since some of the major economies like China, India, and South Korea are present in the region. In recent decades, these countries have witnessed strong government spending on defense infrastructure, as well as promoting air transport and space research. During the forecast period, the Middle East region is estimated to be a potential region for unmanned ground vehicle market in the aerospace and defense sector. It is estimated that Eastern Europe will have stable demand during the forecast period. Also, the rest of the world is expected to be an emerging market with increasing demand.

Market Segmentation:

By Mobility:
o Wheeled
o Tracked
o Hybrid
o Legged

By Operation Mode:
o Tethered
o Tele-Operated
o Autonomous

By Application:
o Military
o Commercial
o Others

By Region:

North America
o By Country (US, Canada, Mexico)
o By Mobility
o By Operation Mode
o By Application

Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Mobility
o By Operation Mode
o By Application

Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Mobility
o By Operation Mode
o By Application

Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Mobility
o By Operation Mode
o By Application

Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Mobility
o By Operation Mode
o By Application

Rest of the World
o By Region (South America, Africa)
o By Mobility
o By Operation Mode
o By Application

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This release was published on openPR.