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Unmanned Ground Vehicles Market 2026: Endeavor Robotics, Elbit Systems, General Dynamics Corporation, Horiba Mira Ltd, ICOR Technology, Northrop Grumman Corporation, QuinteQ Group plc, RE2, Inc., Rheinmetall, Lockheed Martin, L3Harris Technologies, Leonar

05-28-2020 03:54 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: DecResearch.com

Unmanned Ground Vehicles Market

Unmanned Ground Vehicles Market

The unmanned ground vehicles market is expected to witness tremendous growth on account of expanding defense budget by developing countries and surging military spending worldwide. Nations across the globe have allocated a healthy share of their budget in the advancement and development of UGV. Studies claim that countries like Russia, the U.S., Saudi Arabia, France, and China account for more than 50% of the overall UGV industry share.

Commercial UGVs are also finding application in the agriculture and mining sector. Currently, nations like New Zealand, Japan and Australia are pioneering the commercial UGV sector due to increasing commencement of mining and agricultural activities.

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Meanwhile, further estimates suggest that the segment may record a CAGR of over 13% by 2026. Introduction of technologically advanced UGVs by manufacturers may help businesses amass a considerable market share over the projected period.

Meanwhile, technological advancement in sensor systems and the integration of numerous communication technologies are expected to massively benefit UGV business outlook. Manufacturers have started to implement communication technologies like IoT, AI, and the cloud to enhance overall driving experience of UGVs. The unmanned ground vehicles market might exceed USD 7 billion by the year 2026.
Besides, introduction of UGVs that harness the ability to support open architecture could enhance the growth prospects of communication and navigation components segment over the coming years.

North America is often considered as a lucrative avenue for UGV industry owing to the rich presence of prominent UGV manufacturers. Estimates suggest that the region may record a compound annual growth rate of more than 10% by 2026.

Apart from prominent UGV companies, North America also hosts a number of regional players that actively participate in numerous defense exhibitions. Increasing number of UGV related R&D activities could stimulate business outlook of UGV firms. Taking 2019 for instance, the overall budget allocation for UGV related R&D activities was close to USD 343 million, encompassing nearly 70% of overall UGV budget allocation.

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Companies operating in unmanned ground vehicles market are constantly working on innovating new technologies by signing sophisticated R&D agreements with other industry players. Earlier in September 2019, a group of companies tendered a proposal to the European Commission's EDIDP for the advancement of multi-mission UGV solutions. This group included 14 industry participants that possess deep expertise in diverse domains like communication, cybersecurity, and defense.

Some Point from Table of Contents:
Chapter 5. Unmanned Ground Vehicles Market, By Commutation Type
5.1. Key trends, by commutation type
5.2. Tracked
5.2.1. Market estimates and forecast, 2015 - 2026
5.3. Wheeled
5.3.1. Market estimates and forecast, 2015 - 2026
5.4. Legged
5.4.1. Market estimates and forecast, 2015 - 2026
5.5. Hybrid
5.5.1. Market estimates and forecast, 2015 - 2026
Chapter 6. Unmanned Ground Vehicles Market, By Application
6.1. Key trends, by application
6.2. Defense
6.2.1. Market estimates and forecast, 2015 - 2026
6.2.2. Search & Rescue (SAR)
6.2.2.1. Market estimates and forecast, 2015 - 2026
6.2.3. Special Mission
6.2.3.1. Market estimates and forecast, 2015 - 2026
6.2.4. Combat Support
6.2.4.1. Market estimates and forecast, 2015 - 2026
6.2.5. Explosive Ordnance Disposal (EOD) System
6.2.5.1. Market estimates and forecast, 2015 - 2026
6.2.6. Others
6.2.6.1. Market estimates and forecast, 2015 - 2026
6.3. Commercial
6.3.1. Market estimates and forecast, 2015 - 2026
6.3.2. Fire Fighting
6.3.2.1. Market estimates and forecast, 2015 - 2026
6.3.3. Oil & Gas
6.3.3.1. Market estimates and forecast, 2015 - 2026
6.3.4. Agriculture
6.3.4.1. Market estimates and forecast, 2015 - 2026
6.3.5. Others
6.3.5.1. Market estimates and forecast, 2015 - 2026

Browse complete Table of Contents (ToC) of this research report @
https://www.decresearch.com/toc/detail/unmanned-ground-vehicles-ugv-market

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