As the name suggests, the unmanned ground vehicle (UGV) can operate without the presence of a human onboard. They work on a set of sensors that track the surrounding and sometimes take autonomous decisions. These vehicles are used for various applications and especially in the locations where presence of the human operators may be inconvenient or impossible. Innovations in the unmanned robotics are expected to create demand for both unmanned aerial vehicle as well as unmanned ground vehicle market. Strong rise in the industry is also an instance of the changing nature of the warfare and increased demand. Technological advancements in the unmanned robotics and growing demand for the applications apart from the defense activities are also expected to be the vital driving factors for the global market.
Drivers & Restraints for UGV Market
According to the researchers, the global unmanned ground vehicle market is steadily driven by four major drivers. These factors contributing to the steady growth of the industry include increasing demand for the UGVs in the non-defense applications like homeland security and commercial purpose. Impressive success of the unmanned ground vehicle combat performance and reduced risk of human lives are also major driving factors for the UGV market. Increasing functionality and advancing technology in the operations of the vehicles are also expected to change the demand patterns in the global industry. Major restraining factors for the global market include restricted battery life that affects the durability of these vehicles and cuts in defense budgets from developed countries. However, rising demand for autonomous control systems and demand to increase operational efficiency are expected to present crucial business opportunities to the business in the market.
What to Expect – Industry Forecasts
Despite the challenges like communication issues, operational safety, adaptability, and incorporation of brand new technologies, the global market is expected to maintain a healthy growth rate during the next few years to come. Researchers segment the unmanned ground vehicle market on the basis of the applications, technology, types of vehicles, payload, and demand across different geographic regions in the market. The types include size, weapon, source and energy. Technologies include tethered, autonomous, semi-autonomous, and tele-operated. Major applications of the vehicles are found in military and defense, homeland security and commercial segments. On the basis of the geographic regions, the global market is segmented into North America, Middle East, Europe, Asia Pacific, Africa and Latin America. Analysis of all these factors provides details about the growth trends and forecasting analysis of the market.
According to the experts, the global unmanned ground vehicle market is expected to maintain an impressive CAGR of over 32%, from 2014 to 2020. During the study span of the next four to five years, the industry is estimated to become worth more than $8.26 billion by the end of the year 2020. As of the year 2014, the global market is estimated to be worth $1.26 billion.