The global unmanned ground vehicles market size isprojected to reach USD 7.45 billion by the end of 2026.Applications in the defense sector have caught the eye of several investorsfrom across the world. According to a report published by Fortune BusinessInsights, titled “Unmanned Ground Vehicles Market Size, Share andIndustry Analysis, By Mobility (Wheeled, Tracked, Hybrid, and Legged), By Size(Small, Medium, Large, Very Large, and Extremely Large), By Mode of Operation(Tethered, Teleoperated, and Autonomous), By System (Payload, ControllerSystem, Navigation System, Power System, and Others), By Application (Military,Commercial, Law Enforcement, and Federal Law Enforcement) and RegionalForecast, 2019-2026,” the market was worth USD 2.57billion in 2018 and will exhibit a CAGR of 14.95% duringthe forecast period, 2019-2026.
Unmanned ground vehicles are automobiles that do not require ahuman presence inside the vehicle. These vehicles are incorporated with moderntechnologies that are integrat6ed with sensors and similar peripherals.Applications of UGVs in diverse industry verticals including agriculture,transport, and military & defense. Technological advancements have beenpivotal to the growth of the market. Accounting to this, several companies arelooking to invest huge sums towards developing technologically sound UGVs. Thedemand for these products is rising constantly, owing to the exceptionalproperties that they possess. The presence of several large scale companiesacross the world has opened up a massive potential for the growth of the marketin the foreseeable future.
FLIR Systems Received a $152 Million Contract from the US ArmyManufacturing of 350 UGVs
The report encompasses several factors that have contributed tothe growth of the market in recent years. Owing to the increasing applicationsof UGVs in diverse industry verticals, governments of several countries acrossthe world are looking to approach UGV manufacturers with custom requirements.In March 2019, FLIR Systems announced that it has bagged a contract from the USArmy. The contract was worth USD 152 million and is aimed at the development of350 unmanned grounded vehicles. FLIR’s latest collaboration with the US Armywill not just benefit the company but will have a direct impact on the growthof the market in the coming years.
North America to Emerge Dominant; Presence of Several Large ScaleCompanies to Aid Growth
The report analyzes the ongoing unmanned grounded vehicles markettrends across North America, Latin America, Asia Pacific, the Middle East andAfrica, and Europe. Among these regions, the market in North America is likelyto account for the highest unmanned ground vehicles market share in the comingyears. The presence of several large scale companies in several countriesacross this region will aid the growth of the market. As of 2018, the market inNorth America was worth USD 899.5 million and this value is likely to increasefurther in the coming years. The market in Asia Pacific will also witnessconsiderable growth rate in the coming years, accounting to the growingapplications of the product in the defense sector.
Browse Detailed Research Insights with Table of Content:
https://www.fortunebusinessinsights.com/unmanned-ground-vehicless-market-102525
