Global UGV Market is Projected to $18.65 Billion by 2020

Date: 2016-01-28

The global UGV market is projected to grow from $6.44 Billion in 2015 to $18.65 Billion by 2020, at a CAGR of 23.7% during the forecast period.

Several factors, such as increasing need of UGVs in commercial applications, rising demand for operational efficiency, and minimized human intervention are expected to be key in driving the UGV market in coming years.

On the basis of mode of operation, the UGV market has been segmented into tethered, tele-operated, and autonomous. The tele-operated segment is projected to grow at a significant CAGR during the forecast period of 2015 to 2020, as the demand for teleported technology in UGV across all the industries is increasing globally.

UGVs have been increasing the interest of various manufacturers and their inclination towards the UGV market. Government organizations and private agencies have been investing a lot in the manufacturing and development of advanced and reliable UGVs.

The European region is expected to exhibit the highest growth rate in the UGV market during the forecast period of 2015 to 2020. This growth can be attributed to several plans made by major countries of the region to modernize their military forces, and to sustain their technological superiority over developing nations.

Moreover, the gap between the U.S. and European defense technologies is an additional initiating factor for UGV manufacturing companies to develop their technological base in the European region.

Companies Mentioned:

Aselsan A.S.
BAE Systems, PLC
Boston Dynamics
Cobham PLC
General Dynamics Corporation
Lockheed Martin Corporation
Nexter Group
Northrop Grumman Corporation
Oshkosh Corporation
Qinetiq Group PLC.
Robotics Engineering Excellence (RE2) Inc.

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