Global Unmanned Ground Vehicle Market to Reach $9.06 Billion by 2023

BIS Research Report.jpgAccording to a recent research report by BIS Research, titled Global Unmanned Ground Vehicle Market - Analysis and Forecast (2016-2023), the global unmanned ground vehicle market is expected to reach $9.06 billion by 2023. The major factors contributing to the growth of the market are reduced human intervention, increased efficiency and the flexibility offered by unmanned ground vehicles (UGVs).

The Rise of Automation

Automation has spread over the world like wildfire, with every industry inculcating this emerging technology in its processes. One of the prominent reasons for the use of automation is to reduce human intervention in both commercial and defense applications, which further reduces labor cost and in military application, reduces risk to the lives of soldiers.

UGVs serve the same purpose as AGVs (automated guided vehicles) in the commercial industry, to simplify and reduce workload in the intralogistics process as well as in moving in-process goods, which usually take time and cost more with human intervention. Hence, the use of UGVs has helped in increasing the productivity and efficiency of workers and proved profitable for companies.

Different UGV Market Segments to Watch

The report categorizes the global unmanned ground vehicle market along the lines of different locomotion types, modes of operation, applications and different geographies.

On the basis of navigation technology, the global UGV market can be bifurcated into semi-autonomous and autonomous market. In semi-autonomous guidance, the UGV is controlled remotely with the use of various communication protocols such as WI-FI, Bluetooth and satellite links. Whereas in autonomous guidance, various payloads like sensors, cameras and on-board controllers are used for real-time data collection, decision making and navigation.

The Shifting Demand for Unmanned Ground Vehicles

North America has always been at the forefront of technological development and disruption and geographically, it dominated the global UGV market, as of 2016, followed by Europe and Asia Pacific. The demand for unmanned ground vehicles is increasing at a fast pace in both developed and developing economies; however, the market is expected to show a favourable leaning towards Asian countries in the coming years.

According to a BIS Research analyst, “The demand for unmanned ground vehicles is relatively high across North American and European regions while the Asian countries are rapidly incorporating unmanned ground vehicles into their industries and armed forces to maintain their edge both in the global market and in geopolitics.”

Key Players and Trends in the UGV Market

The report provides an in-depth analysis of the key development strategies and market trend dynamics which include drivers, restraints and opportunities prevailing in the unmanned ground vehicle market. The following key market players are also analyzed and profiled in the report:

  • General Dynamics
  • Northrop Grumman
  • Lockheed Martin
  • Clearpath Robotics Inc.
  • Israel Aerospace Industries (IAI)
  • ECA Group
  • QinetiQ Group plc
  • Oshkosh Corporation
  • John Bean Technologies Corporation
  • KION Group
  • Swisslog Holding AG

Need more information? View the report's abstract on to learn more.

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About the Publisher: BIS Research is a global market research company that provides comprehensive reports covering 12 technology verticals. Its team includes industry veterans, experts and analysts with diverse backgrounds in consulting, investment banking, government and academia.

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Topics: Transportation & Shipping Public Sector Industry Insights