Global Unmanned Ground Vehicle Market Is Anticipated To Witness Significant Growth Owing To Rising Utilization Of The Robots Overview

 

Unmanned Ground Vehicle Market

Unmanned ground vehicle are robotic systems that can navigate through obstacles, detect and identify threats in the battlefield, assist with explosive ordnance disposal, and support the maneuver of ground troops. These systems are being used by the military to reduce the number of soldiers required at a given location, and also increase efficiency by allowing for the use of larger vehicles that can operate in difficult terrains. Unmanned ground vehicles are also being used in civilian applications such as inspection of nuclear power plants, urban search and rescue operations, agriculture harvesting and spraying, and firefighting. The rapid growth of military forces in India and China, escalating political tensions among neighboring countries, and rising terrorism are also driving the demand for UGVs.

Market Dynamics:

Rising partnerships is estimated to augment growth of the global unmanned ground vehicle market during the forecast period. For instance, HORIBA MIRA secured a major GBP 2.3 million contract in March 2020, for supplying VIKING autonomous unmanned ground vehicles to the UK Defence Science and Technology Laboratory. Moreover, rising expenditure of the unmanned vehicles is anticipated to restrain growth of the global unmanned ground vehicle market during the forecast period.

Impact of COVID-19:

COVID-19 was declared as a public health emergency in 2020 by the World Heath Organization. The pandemic had a significant impact on all sectors of society. Many governments across the world imposed strict regulations for preventing the spread of the virus. The pandemic also hampered the growth of many businesses across the world. The pandemic led to shortage of resources in ma n y countries so all resources were being used for battling COVID-19. This had a negative impact on the growth of the global unmanned ground vehicle market. However, tension has been building up in many between many countries and this has resulted in increased government spending on unmanned ground vehicles. This is estimated to fuel growth of the global unmanned ground vehicle market.

Key Takeaways:

 

The global unmanned ground vehicle market is expected to witness robust growth, exhibiting CAGR of 12.77 % over the forecast period, due to rising investments from the government. For instance, Australia declared an investment of AUD 12.2 million for autonomous vehicles and emerging technologies in August 2020. This funding will be used for exploration, prototyping, and experimentation of UGVs for the Australian Army.

 

North America is anticipated to witness robust growth in the global unmanned ground vehicle market during the forecast period, due to increasing defense budget and growing investments in the next-generation military UGVs.

 

Key players active in the global unmanned ground vehicle market are Rheinmetall AG, BAE Systems plc, Raytheon Technologies Corporation, General Dynamics Corporation, QinetiQ Group Plc, Hexagon AB, Oshkosh Defense LLC, L3Harris Technologies, Inc., Northrop Grumman Systems Corporation, and Lockheed Martin Corporation.