Unmanned Ground Vehicles Market is Forecasted to Reach US$ 3.78 Billion in 2028, Says Stratview Research

The global unmanned ground vehicles market is projected to witness a growth rate of 5.66% annually from 2023 to 2028, with an anticipated size of US$ 3.78 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global unmanned ground vehicles market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2028: US$ 3.78 billion
Growth (CAGR): 5.66% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 6
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Unmanned Ground Vehicles Market:

The global unmanned ground vehicles market is segmented based on mobility type, size type, mode of operation type, system type, application type, and region.

Based on mobility type - The market is segmented into tracked, wheeled, hybrid, and legged. The tracked segment held the largest share in 2022 and is expected to grow at a fast pace during the forecast period, owing to the high-power output as compared to all other vehicle types. However, the wheeled segment is forecast to grow at the fastest rate in the near future due to its growing use in critical operations that involve operating on rough and unpredictable terrains.

Based on size type -The market is segmented into small, medium, large, very large, and extremely large. Small UGVs weigh more than 10 lbs to 200 lbs but less than 200 lbs. The small-size UGVs accounted for a significant share of the market in 2022 and are expected to dominate the market demand during the forecast period. Small UGVs can be equipped with various payloads such as Chemical, Biological, Radioactive & Nuclear (CBRN) sensors, night-vision cameras, motion detectors, grippers, and manipulator's arms.

Based on mode of operation type - The market is segmented into autonomous, teleoperated, and tethered. The autonomous segment is projected to grow with the fastest CAGR by 2028 due to the capability and potential to be integrated with different military and commercial applications.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/2911/unmanned-ground-vehicles-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America accounted for the largest market share in 2022 and will continue to lead the market in the foreseeable future. This growth outlook is majorly attributed to the following-

• The U.S. generated the highest revenue in the region.
• The sharp increase in the U.S. defense budget along with increased production contracts with UGV OEM is expected to increase demand for Unmanned Ground Vehicles in the country.
• Further, with significant military modernization efforts taking place in countries across the Asia Pacific region, the demand for Unmanned Ground Vehicles is expected to grow shortly.

Unmanned Ground Vehicles Market Drivers:

Some of the key drivers listed in the report are given below.

• Growing demand for autonomous systems for defense & commercial applications along with the development of smart robots to take part in combat operations.
• Concerns related to bandwidth & reliability, decreasing defense budgets in developed economies, and limited battery life of vehicles.
• Continuous efforts towards increasing operational efficiency combined with a growing demand for autonomous control systems.

Top Companies in the Unmanned Ground Vehicles Market:

Stratview Research has identified the following companies as the top market players.
• Aselsan A.S.
• Bae Systems
• Eca Group
• Elbit Systems
• General Dynamics
• Hexagon Ab
• Israel Aerospace Industries
• L3harris Technologies
• Lockheed Martin
• Log Nex 1
• Mitsubishi Electric
• Northrop Grumman Corporation
• Oshkosh Corp.
• Qinetiq
• Rheinmetall Ag
• St Engineering
• Teledyne Technologies
• Thales Group

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Unmanned Ground Vehicles Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

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This release was published on openPR.