Unmanned Ground Vehicles Market Size, Share, Industry Development and Emerging Trends by 2032

Unmanned Ground Vehicles Market Size, Share, Industry Development and Trends by 2032

The global unmanned ground vehicles (UGVs) market size was valued at approximately USD 3.07 billion in 2023 and is projected to grow to USD 6.35 billion by 2032. This growth, with a compound annual growth rate (CAGR) of 8.6%, is largely driven by increasing use in supply transport, explosive disposal, and military applications.

Informational Source:

https://www.fortunebusinessinsights.com/unmanned-ground-vehicles-market-102525

Key Players in the Market

The report from Fortune Business Insights™ highlights several major companies in the UGV sector:

• BAE Systems (U.K.)
• Aselsan A.S. (Turkey)
• Lockheed Martin Corporation (U.S.)
• General Dynamics Corporation (U.S.)
• L3 Harris Technology, Inc (U.S.)
• Oshkosh Defense LLC (U.S.)
• Rheinmetall AG (Germany)
• Teledyne FLIR LLC (U.S.)
• QinetiQ (U.K.)
• Northrop Grumman Corporation (U.S.)

Market Segmentation

1. EOD UGV Segment: This segment, focused on Explosive Ordnance Disposal, is expected to see significant growth due to rising demand for explosive disposal services.

2. Tracked UGVs Segment: Growth in this segment is driven by increased defense spending and contracts for next-generation tracked UGVs.

3. Size Segmentation: The small UGV segment (10-200 lbs) is anticipated to grow substantially, fueled by the rising demand for lightweight robots in both commercial and military sectors.

Geographic Insights

The UGV market is divided into regions including North America, Europe, Asia Pacific, and others. North America is leading the market, thanks to its high defense budget. The Asia Pacific region, especially China and India, is also expected to grow significantly due to rising defense expenditures.

Market Drivers and Challenges

The demand for autonomous systems in both commercial and defense sectors is a major driver of market growth. These vehicles are increasingly used in agriculture for tasks like irrigation and crop management. However, challenges such as reliability issues and budget cuts in some defense sectors may hinder market progress.

Competitive Landscape

Key players in the market are implementing various strategies, including mergers, collaborations, and increased investment in research and development, to strengthen their positions.

Recent Developments

In January 2022, QinetiQ entered a five-year sales agreement with Velodyne Lidar, Inc. to enhance its UGV portfolio with advanced perception and mapping capabilities using Velodyne’s sensors.

This report provides a comprehensive overview of the trends and strategies shaping the unmanned ground vehicles market from 2024 to 2032.