Unmanned Ground Vehicle Market Worth $8.26 Billion by 2020 - New Report by MarketsandMarkets
(PRWEB) January 10, 2015 -- The Unmanned Ground Vehicle (UGV) market research report includes a detailed study of the UGVs in the defense, commercial, and homeland security sector. This report provides the market analysis of the market over the next six years. It discusses the industry, market, and technology trends that currently prevail in the UGV market. The market report analysis categorizes in the global market on the basis of types, technology, payloads, applications, regional, and country analysis. The market over the next few years is expected to exhibit a robust growth of 32.72% from 2014 to 2020. The market is valued at $1.51 billion in 2014 and is expected to reach $8.26 billion by 2020.
Browse more than 115 market data tables with 69 figures spread through 185 pages and in-depth TOC on "Unmanned Ground Vehicle Market".
http://www.marketsandmarkets.com/Market-Reports/unmanned-ground-vehicles-market-72041795.html
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.
Countries such as China and India in the Asia-Pacific region prove to be emerging markets. The report provides insights into regional and technological trends along with the market share analyses for major countries. The unmanned ground vehicle market report includes a detailed study of leading companies with respect to their financial analysis, products &services, and key developments so as to provide meticulous competitor analysis.
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The unmanned ground vehicles market is moved by the reduced risks associated with the use of UGVs, increasing demand for UGVs in the commercial and defense sectors, and better technological innovations that have created a demand for UGVs in performing complex operations with the least human intervention and better safety. The success of UGVs in combat performances proves the reliability of UGVs in emergency situations. This is expected to be adopted by the Military of Defense for their activities in the countries of the Asia-Pacific region. Reduced defense budgets in the North American and European countries in the recent years are expected to hamper the growth of this market. The limited endurance for batteries and its incapability to perform longer duration missions is expected to restrain the market. There is huge scope for research and development of UGVs in increasing the operational efficiency and providing complete autonomy. Investments are made by growing regions to adopt autonomous control systems for various applications.
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