The Global Military Unmanned Ground Vehicle Market 2019-2029
Summary UGVs have proved to be exceedingly useful during peacekeeping missions and the ongoing global war on terror, and are finding applications across Intelligence, Surveillance, and Reconnaissance (ISR) missions and combat roles.
/EIN News/ -- New York, Oct. 22, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "The Global Military Unmanned Ground Vehicle Market 2019-2029" - https://www.reportlinker.com/p04071516/?utm_source=GNW
Furthermore, enhanced capabilities in areas such as endurance, data processing, and communications have broadened the use of UGVs in both defense and intelligence roles.
The global Military Unmanned Ground Vehicle (UGVs) market is estimated to value US$597 million by the end of 2019, registering a compound annual growth rate (CAGR) of 3.58% to value US$849 million by 2029. The cumulative expenditure on military UGVs over the forecast period is estimated to value around US$7.4 billion. North America is expected to account for the largest share of 46.1% in the military UGV market followed by Asia-Pacific and Europe with respective shares of 34.7% and 14% during 2019-2029. Increase in defense spending in countries such as China, India, Japan and Singapore are expected to drive the market in the Asia-Pacific region over the forecast period. The Middle East, Africa and Latin America are projected to garner respective shares of 3.5%, 1.5% and 0.2% in the global military UGV market during 2019-2029.
The military UGV market is categorized into five segments: Combat UGV, ISR UGV, EOD/IED UGV, Mine-Clearing and Engineering UGV and Logistics UGV. During the forecast period, Combat UGVs account for the largest share of 47.6%, with cumulatively expenditure of US$3.5 billion; driven by large scale procurement programs in countries such as China, Russia, The UK, The US, and India. Asia-Pacific is expected to be the dominant market for Combat UGVs throughout the next decade, followed by North America and Europe accounting for the second and third largest markets in this segment.
EOD/IED UGVs are projected to be the second largest segment over the forecast period and are expected to account for a total share of 20.1% of the global market. EOD UGV is followed by Logistics UGV, ISR UGV and Mine-Clearing and Engineering UGV with shares of 14.9%, 12%, and 5.4% respectively, during the forecast period.
Although deaths from terrorism continue to fall since the last three years, terrorism is still widespread, and even getting worse in some regions.According to the Global Terrorism Index, four terrorist organisations; Islamic State, the Taliban, Al-Shabaab and Boko Haram were responsible for 10,632 deaths in 2017.
Nations such as France and the UK have re-organized their defense strategies in light of the Paris attacks, which managed to alarm almost all European nations as well as the US.
Most developed and developing countries across the globe have embarked on modernization initiatives for their homeland security departments, in which UGVs are anticipated to play a major role in the fulfillment of these projects.Other than homeland security applications, UGVs are also used in disaster management exercises to reach into spaces and territories where humans cannot go, in order to gauge the scope and significance of a natural disaster.
UGVs are being increasingly adopted by large defense spending nations across the world such as the US, Russia, the UK, China, and India, primarily due to their applicability in areas where it is inconvenient or dangerous to deploy a human operator.
The report “The Global Military Unmanned Ground Vehicle Market 2019-2029” offers a detailed analysis of the industry, with market size forecasts covering the next ten years.
This report will also analyze factors that influence demand for Unmanned Ground Vehicle, key market trends, and challenges faced by industry participants. In particular, the report provides an in-depth analysis of the following -
- Market size and drivers: detailed analysis during 2019-2029, including highlights of the demand drivers and growth stimulators. It also provides a snapshot of the spending and modernization patterns of different regions around the world
- Recent developments and industry challenges: insights into technological developments and a detailed analysis of the changing preferences of Unmanned Ground Vehicle segments around the world. It also provides trends of the changing industry structure and the challenges faced by industry participants
- Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand
- Major programs: details of the key programs in each segment, which are expected to be executed during 2019-2029
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global market. It provides an overview of key players, together with information regarding key alliances, strategic initiatives, and financial analysis.
Companies mentioned - BAE Systems, Rheinmetall AG, IAI, DRDO, FLIR Systems, Milrem Robotics, Northrop Grummman, Oshkosh Defense, Harris Corporation, China North Industries Corporation (NORINCO), ECA SA, QinetiqQ Group.
Scope
- The global unmanned ground Vehicle market is expected to grow at a CAGR of 3.58% over the forecast period.
- The market consists of five categories: Combat, EOD/EOD, ISR, Logistics and Mine-Clearing and Engineering UGV.
- North America will dominate the sector with a share of 46.1%, followed by Asia-Pacific and Europe. The Combat UGV segment is expected to be the leading segment with a share of 47.6%.
Reasons to buy
- Determine prospective investment areas based on a detailed trend analysis of the global military unmanned ground Vehicle market over the next ten years
- Gain in-depth understanding about the underlying factors driving demand for different unmanned ground Vehicle segments in the top spending countries across the world and identify the opportunities offered by each of them
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major channels that are driving the global unmanned ground Vehicle market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global unmanned ground Vehicle market
- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top unmanned ground vehicle providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available
Read the full report: https://www.reportlinker.com/p04071516/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
![](https://www.einnews.com/tracking/article.gif?aid=499988554§ion=globenewswire&a=A9jaxa_6KBDjncvc&i=0fGRxdFsTWvskMZF)