What is the global market size of Unmanned Ground Vehicle Market?

Unmanned Ground Vehicle Market size was valued at USD 2.68 billion in 2021 and is poised to grow from USD 2.92 billion in 2022 to USD 5.62 billion by 2030, growing at a CAGR of 8.8% in the forecast period (2023-2030).

Global Unmanned Ground Vehicle Market Size, Share, Growth Analysis, By Mobility(Wheeled, Tracked), By Size(Small (10 - 200 lbs), Medium (200 - 500 lbs)), By Mode of Operation(Tethered, Teleoperated), By System(Payload, Controller System), By Application(Military, Commercial) - Industry Forecast 2024-2031

Report ID: SQMIG20A2165 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 150 | Figures: 78

Global Unmanned Ground Vehicle Market Dynamics

Unmanned Ground Vehicle Market Driver

Growing need for autonomous systems for commercial and defence applications drives market expansion, as the broad range of applications for autonomous Unmanned ground vehicle is driving up demand in the defence and commercial sectors. In the agricultural industry, autonomous vehicles are utilised for soil sampling, mechanical weeding, irrigation control, crop harvesting, and precision spraying. Furthermore, these vehicles are commonly used by defence forces for combat support, intelligence, surveillance, and reconnaissance (IS) operations, among other things. As a result, rising defence procurement of sophisticated robotics is propelling market expansion.

Unmanned Ground Vehicle Market Restraint

Defense budget cuts, as well as reliability and bandwidth issues, are impeding market growth. Military budget cuts from many nations throughout the world, as well as lower R&D expenditures, are impeding market growth. Interruptions in bandwidth produced delayed reaction time for the controller to tactual unmanned ground vehicle with wireless solutions and even certain cable systems. Because of the sluggish reaction time, the bandwidth impacts other networked cars. Furthermore, these vehicles are incapable of detecting the whereabouts of hostile forces or developing a precise description of the enemy residence.

Global Unmanned Ground Vehicle Market Report Snapshots

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Unmanned Ground Vehicle Market size was valued at USD 2.68 billion in 2019 and is poised to grow from USD 2.92 billion in 2023 to USD 5.62 billion by 2031, growing at a CAGR of 8.8% in the forecast period (2024-2031).

In order to maintain competitiveness, the global unmanned ground vehicle market participants are heavily active in mergers and acquisitions. Major market players are concentrating on company development through the introduction of upgraded Unmanned ground vehicle and long-term contracts with military forces. Hanwha Defense will update its multi-purpose Unmanned ground vehicle for export sales in March 2021. The vehicles boosted infantry units' fighting capability and viability. XAG will also deploy the R150 Unmanned Ground Vehicle in June 2021. It is designed specifically for agricultural uses and can carry up to 150 kg (330 lbs). 'General Dynamics Corporation', 'iRobot Corporation', 'Northrop Grumman Corporation', 'QinetiQ Group plc', 'Lockheed Martin Corporation', 'BAE Systems plc', 'Autonomous Solutions Inc.', 'Clearpath Robotics Inc.', 'ECA Group', 'Endeavor Robotics', 'Roboteam Ltd.', 'Nexter Group', 'SuperDroid Robots Inc.', 'Oshkosh Defense LLC', 'Cobham plc', 'Cobalt Robotics Inc.', 'Milrem Robotics', 'Rheinmetall AG', 'FLIR Systems Inc.', 'Knightscope Inc.'

Growing need for autonomous systems for commercial and defence applications drives market expansion, as the broad range of applications for autonomous Unmanned ground vehicle is driving up demand in the defence and commercial sectors. In the agricultural industry, autonomous vehicles are utilised for soil sampling, mechanical weeding, irrigation control, crop harvesting, and precision spraying. Furthermore, these vehicles are commonly used by defence forces for combat support, intelligence, surveillance, and reconnaissance (IS) operations, among other things. As a result, rising defence procurement of sophisticated robotics is propelling market expansion.

In recent years, significant stakeholders have started to focus the development of next-generation vehicles for efficient and dependable operations. The use of slashing technology, such as artificial intelligence in unmanned aerial vehicles, enhances vehicle performance. Intelligent unmanned autonomous systems are developed by humans and are able to carry out operations or administration without the need for advanced technologies.

Global Unmanned Ground Vehicle Market is divided into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa (MEA).

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Global Unmanned Ground Vehicle Market Dynamics

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