Unmanned Ground Vehicles Market SWOT Analysis by Leading Key Players - Armtrac Limited, Clearpath Robotics Inc, Cobham plc, DOK-ING, Endeavor Robotics, General Dynamics Corporation, Horiba Mira Ltd

The global unmanned ground vehicles market has depicted considerable expansion in the recent years. This growth can be aptly attributed to the robust shift in the investments in the defense sector and the rising defense expenses observed since the last few years. While the U.S., China, France, Saudi Arabia, and Russia are depicting considerable influence over the global market, New Zealand, Japan, and Australia exert substantial hold in the commercial UGV business. The industry is also driven with the rapid number of advancements in sensor systems and the integration of numerous communication technologies.

The presence of prominent industry players in North America will support regional industry growth. Interest taken by the market players to improve the defense offerings will outline UGV landscape over the period of study. Reports estimate that North America unmanned ground vehicles market will register notable CAGR of more than 10% through 2026.

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The communication and navigation segments, a part of the component landscape of unmanned ground vehicles market, will exhibit maximum growth prospects through the coming years. The growth can be credited to the development of UGVs with extraordinary capabilities to lend support to open architecture.

Rapid increase in the regional R&D budgets for UGVs is also a major factor boosting the regional expansion. For instance, the total budget allocation for UGV R&D activities in 2019 was around USD 343 million – which is close to 70% of the overall UGV budget allocation. As per estimates, North America unmanned ground vehicles market is likely to register a CAGR of 10% through 2026.

Among the hybrid, wheeled, tracked, and legged commutation types, the tracked segment is likely to gain substantial traction. UGV industry size from tracked segment was recorded at an appreciable USD 1 billion in 2019, driven by the robustly rising demand for numerous defense UGVs that could perform various operations on multiple terrains. As per estimates, tracked UGV market size is anticipated to grow at a CAGR of 13% over 2020-2026.

Unmanned ground vehicles manufacturers are constantly aiming at advancing their product portfolios to increase their customer base as well as maximize their profit margin. Prominent companies include, General Dynamics Corporation, BAE Systems, Rheinmetall, Elbit Systems and Northrop Grumman Corporation, among various others.

Many key market players are adopting advanced technologies to upgrade the product as well as increase their presence in the industry. Estonia based Milrem robotics launched the fifth generation THeMIS UGV at Singapore Airshow in February 2020 improving its product offering. The need for a strong defense sector and consequent initiatives taken by governments in both developed and developing countries by way of investments and acquisition of UGV will augment global unmanned ground vehicles market size.

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Partial Chapter of the Table of Content
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
Charts & Figures
FIG 1 Industry segmentation
FIG 2 Unmanned Ground Vehicles market, 2015 - 2026 (USD Million)
FIG 3 Industry ecosystem analysis
FIG 4 Porter’s analysis
FIG 5 PESTEL analysis
FIG 6 Growth potential analysis
FIG 7 Company analysis of market leaders, 2019
FIG 8 Company analysis of prominent vendors, 2019

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