Global Unmanned Ground Vehicles (UGVs) Market is projected to be valued at USD 8,040 Million by 2026, registering a CAGR of 14.79% during the forecast period, 2020–2026.
Factors such as increasing demand for autonomous systems in defense and commercial sectors and the advancements in UGVs systems are expected to drive the growth of the market. Additionally, increasing product launches by companies such as BAE Systems is also expected to drive the growth of the market. For example, in 2017, BAE Systems launched a single and double-tracked UGV named Ironclad that assists in performing combat, reconnaissance, and casualty evacuation roles. Moreover, the growing adoption of UGVs for commercial applications such as physical security, oil & industry, and agriculture industry is also expected to drive the growth of the segment.
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However, issues related to the absence of advanced visual capabilities and the need for continuous and uninterrupted power supply in UGVs might hamper the growth of this market.
The increasing demand for enhanced efficiency and human safety and rising territorial conflicts across the globe are expected to drive the growth market.
Growth Opportunities in the Market
Military segment to register the highest CAGR: The military segment is projected to exhibit the highest CAGR during the forecast period. The rising adoption of UGVs by the armed forces of countries such as the US and China is expected to drive the growth of the segment.
Legged segment dominated the market: The legged segment dominated the market in 2019. Legged UGVs offer various benefits such as convenience, mobility, and adaptability. These features enable these UGVs to be used in critical missions.
Payloads segment expected to register the highest CAGR: The payloads segment is projected to register the highest CAGR during the forecast period as payloads assist army personnel in experiencing enhanced situational awareness and real-time information about the battlefield.
Autonomous segment dominated the market in 2019: The autonomous segment dominated the market in 2019. Autonomous UGVs assist soldiers in surveillance and reconnaissance missions, target tracking, and offer convenience. Thus, driving the growth of the segment.
Small segment dominated the market in 2019: The small segment dominated the market in 2019. These UGVs offer benefits such as compact size and durability, thus making them suitable for commercial applications such as physical security, land mowing, and household chores.