Unmanned Ground Vehicles Market Generated $2,489.2 Million Revenue in 2020: P&S Intelligence

NEW YORK, July 8, 2021 /PRNewswire/ -- The burgeoning requirement for autonomous systems in the commercial and defense sectors and the mushrooming usage of robotics in the areas affected by biological, chemical, nuclear, and radiological attacks are fueling the sales of unmanned ground vehicles (UGVs). Basically, the surging demand for security and the modernized systems used in unmanned vehicles and the ability of these vehicles to provide reduced operational costs, as humans are not required for operating them, are propelling the growth of the global unmanned ground vehicles market. Because of these reasons, the market reached a revenue of $2,489.2 million in 2020.

The COVID-19 pandemic has negatively impacted the sales of UGVs. The imposition of strict social distancing protocols and lockdowns has affected end-use industries, with the deliveries of UGVs recording a massive decline in 2020. Moreover, the closing of factories and the non-availability of resources have caused a sharp fall in the production and sales of UGVs. However, the lifting of lockdowns and the subsequent resumption of production operations have caused resurgence in the sales of UGVs, thereby driving the growth of the UGVs market.

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The market for unmanned ground vehicles (UGVs) is classified into military, commercial, federal law enforcement, and law enforcement, depending on application. Out of these, the federal law enforcement category is expected to register the fastest growth in the market during the forecast period. Several federal law enforcement agencies employ the use of UGVs for intelligence, surveillance, and reconnaissance (ISR) purposes and in explosive ordnance disposal (EOD) and defense applications.

Furthermore, the UGVs market is divided into teleoperated, tethered, and autonomous, on the basis of the mode of operation. Out of these, the autonomous category is predicted to demonstrate the fastest growth in the market throughout the forecast period. This is ascribed to the self-sufficiency provided by the autonomous mode, which allows UGVs to complete operations and tasks without requiring human intervention.

Browse detailed report with COVID-19 impact analysis on Unmanned Ground Vehicles Market Research Report: By Mobility (Wheeled, Legged, Tracked, Hybrid), Mode of Operation (Autonomous, Tele operated, Tethered), Application (Commercial, Military, Law Enforcement, Federal Law of Enforcement) - Global Industry Analysis and Growth Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/unmanned-ground-vehicles-ugv-market

Globally, North America held the largest share in the unmanned ground vehicles market in 2020. This is attributed to the fact that the U.S. is one of the largest consumers, exporters, and producers of military equipment in the world. Moreover, the U.S. and Canada are handing out contracts for the procurement of UGVs, which is propelling the market expansion in the region. For example, the U.S. has deployed several unmanned systems along the Mexican border to ensure that conflicts and gang-related violence are handled without any collateral damage.

In recent years, the players in the UGVs market have actively focused on producing advanced UGVs. For example, Lockheed Martin awarded a contract to BAE Systems in June 2020 for providing key artificial intelligence (AI) and autonomy capabilities aimed at improving the effectiveness of tactical robotic land and air vehicles and developing better collaboration between ground machines and warfighters at the small-unit level.

Likewise, HORIBA MIRA secured a contract worth $3.25 million in March 2020 for providing VIKING autonomous UGVs to the U.K. Defence Science and Technology Laboratory (Dstl).

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Qinetiq, Northrop Grumman Corporation, BAE Systems, Lockheed Martin Corporation, Oshkosh Defense, FLIR, and iRobot Corporation are some of the major unmanned ground vehicles market players.

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Autonomous Commercial Vehicle Market - Presently, the North American autonomous commercial vehicle market accounts for the highest sales of such automobiles, on account of the early integration of self-driving technologies here than elsewhere in the world.

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SOURCE P&S Intelligence