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North America accounted for 50.3% of the Unmanned Ground Vehicle Market in 2014.
(PRWEB) October 19, 2014
The report "Unmanned Ground Vehicle Market by Application (Commercial, Defense, & Homeland Security), Technology, Payload, Type & by Geography - Forecasts & Analysis 2014–2020", defines and segments the global unmanned ground vehicle market into various sub segments with an in-depth analysis and forecasting of market sizes. The report also identifies the factors driving this market, various restraints, and opportunities impacting it along with the adoption trends.
The unmanned ground vehicle market is estimated to be $1.51 billion in 2014 and is anticipated to reach $8.26 billion by 2020 at a CAGR of 32.72%, which includes an in-depth analysis of application and geography.
Browse more than 115 market data tables with 69 figures spread through 185 pages and in-depth TOC on "Unmanned Ground Vehicle Market".
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The major challenges include incorporating new technology before it matures and verifying the operational safety of the UGV. Survivability and adaptability to extreme environmental conditions is expected to restrain the market.
North America holds a share of almost 50% of the global UGV market. Asia-Pacific is expected to indicate stringent growth with increasing investments in defense and commercial applications in emerging countries such as China and India. Technological advancements in UGVs, its success in combat performances, and the rising demand for non-defense applications is expected to drive the unmanned ground vehicle market in future. A reduction in risks to human life through UGV applications in hazardous and periculous circumstances is expected to trigger the UGV market, globally.
Limited battery endurance to accomplish longer mission hours and defense budget cuts in the established North American and European regions restrict the UGV market growth. The increasing demand for autonomy and better operational efficiency will seek opportunities for the UGV growth.
The market is segmented based on categories-by type, by technology, by payloads, by application, by region, and by country. The competitive analysis includes the market share of companies in the unmanned ground vehicle market. The report includes an analysis of the impact of drivers and restraints country-wise and region-wise to provide a better insight of the UGV market. Technology and industry trends are also highlighted, which will provide competitive market intelligence to utilize the business opportunities.
The global Unmanned Ground Vehicle (UGV) market is valued at $1.51 billion in 2014 and is expected to display a robust growth to reach $8.26 billion by 2020 to register a CAGR of 32.72% till 2020. The market is triggered by the rise in demand for non-defense applications and the increased UGV functionality to perform complex operations. The UGV market report covers the commercial, defense, and homeland security applications. The IED disposal, mine detection and clearance, CBRNE detection operations in the defense sector, and industrial operations in the commercial sector are expected to be the areas that majorly contribute to the demand of UGVs.
UGVs are used extensively in the commercial, defense, and homeland security sectors, globally. The commercial applications specifically in industrial operations and surveillance are expected to drive the Unmanned Ground Vehicle market. Robots are also broadly used in the hazardous operations of disaster response, reconnaissance, reconstruction, and rescue operations during crises.
Key Takeaways
•The unmanned ground vehicle market is expected to display stringent growth during the study period with an increase in the functionality of UGVs and the demand for UGVs in the non-defense sector
•The unmanned ground vehicle market is segmented based on types-locomotion, energy source, weapons, & size; based on payloads-fixed payloads (telemetry system, INS, & camera) and role specific payloads (imaging sensors, others sensors, & effectors), based on technology (tethered, tele-operated, semi-autonomous, & fully autonomous), and based on applications-defense, commercial, & homeland security.
•The unmanned ground vehicle are reliable and hence play a crucial role in the critical military and commercial operations that include high risks to human life
•With the success of UGVs in combat performance in IED and bomb disposals, CBRNE detection, mine detection &clearance, patrolling, and ISR operations, the demand for UGVs is expected to drive this market
•UGVs observe a great opportunity with respect to the growing needs of autonomous control systems and efficient operability in future
•Survivability and adaptability to the external environmental conditions during remote missions and communications with the station in extreme situations prove to be major challenges to the UGV market
•The use of robots to perform industrial operations such as material handling, transportation, perimeter security, and other applications recently, has triggered the demand for UGVs in the commercial sector
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