Unmanned Ground Vehicle Market

Telematics Is Fastest Growing Segment Fueling The Growth Of Unmanned Ground Vehicle Market

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The global Unmanned Ground Vehicle Market is estimated to be valued at US$ 1880.78 Mn or Mn in 2023 and is expected to exhibit a CAGR of 12.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Unmanned ground vehicles (UGVs) are remotely operated or autonomous vehicles that operate while in contact with the ground. They are equipped with various modern technologies such as telemetry systems, global positioning system (GPS), inertial measurement units (IMU) and lasers which makes them useful for various military and commercial applications.

Market key trends:
One of the major trends in the unmanned ground vehicle market is the increasing use of telematics technology. Telematics refers to the integration of telecommunications and information and communications technologies with fleet management. Using telematics, operators can track the real-time location, monitor performance, collect diagnostic data and improve fleet utilization of UGVs remotely. This allows for remote monitoring and maintenance of vehicles without disrupting operations and improves fleet management efficiency. With increasing connectivity needs, telematics is expected to play a major role in next generation unmanned ground vehicles.

Segment Analysis
The global unmanned ground vehicle market is segmented based on type, system, application, and region. Based on type, the market is categorized into tracked, wheeled, and legged. Among these, the tracked segment dominates the market as tracked UGVs offer better mobility and traction on rough terrains as compared to wheeled UGVs. Based on system, the market is divided into payload, communication & computing, locomotion, navigation, power & energy, and control systems. The payload segment accounts for the largest share as UGVs are increasingly being used for payload carrying applications like transportation of goods and ammunition.

Key Takeaways
Global Unmanned Ground Vehicle Market Size is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing demand from defense sector for battlefield surveillance and combat support.

Regional analysis – North America dominates the market with maximum share owing to heavy investments in R&D activities by US defense forces. Asia Pacific is expected to exhibit the fastest growth over the forecast period due to increasing defense expenditure of emerging economies like India and China.

Key players operating in the unmanned ground vehicle market are Northrop Grumman Corporation, BAE Systems, Lockheed Martin Corporation, Clearpath Robotics Inc., John Bean Technologies Corporation, ECA Group, Israel Aerospace Industries Ltd., Endeavor (Now a part of FLIR system), Harris Corporation, and General Dynamics. The global unmanned ground vehicle market size was valued at US$ 1880.78 Mn in 2023 and is projected to reach US$ 3766.92 Mn by 2030 growing at a CAGR of 12% during the forecast period.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it