Press release
Unmanned Ground Vehicle Market: Asia-Pacific Region to Rake at 13.85% CAGR During 2021-2030
Unmanned Ground Vehicle Market
Increase in demand for unmanned ground vehicles for civilian purposes and reduction in risk of human lives drive the growth of the global UGV market. However, reductions in defense budgets by developed economies, concerns regarding reliability and bandwidth, and vehicle battery's restricted life impede the market growth. On the contrary, a rise in the demand for autonomous control systems and a gain in operational efficiency create new opportunities in the coming years.
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Covid-19 Scenario:
The outbreak of Covid-19 had a significant effect on the global unmanned ground vehicle market, due to the implementation of lockdown measures across the globe.
The Covid-19 pandemic 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, had to cut expansion and R&D expenditures to cope with the defense industry's declining revenue and operating 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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Based on size, the small size segment held the highest market share in 2020, accounting for nearly two-thirds of the total share, and is projected to maintain its leadership status during the forecast period. However, the heavy size segment is estimated to grow at the fastest CAGR of 13.38% from 2021 to 2030.
Based on application, the defense segment accounted for the largest share in 2020, contributing to nearly three-fourths of the global unmanned ground vehicle market, and is expected to maintain its lead position during the forecast period. However, the commercial segment is projected to portray 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 nearly half of the total share, and is expected to continue its dominant share in terms of revenue by 2030. However, Asia-Pacific is projected to manifest the largest CAGR of 13.85% during the forecast period.
Leading players in the global unmanned ground vehicle market discussed 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 enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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