Military Unmanned Ground Vehicle (UGV) Market Size and Trend Analysis including Segments (Combat UGV, Intelligence, Surveillance and Reconnaissance (ISR) UGV, Logistics UGV, Explosives and Mine Disposal UGV), Key Programs, Competitive Landscape and Forecast, 2022-2032
New York, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Military Unmanned Ground Vehicle (UGV) Market Size and Trend Analysis including Segments, Key Programs, Competitive Landscape and Forecast, 2022-2032" - https://www.reportlinker.com/p06360636/?utm_source=GNW
Military Unmanned Ground Vehicle (UGV) Market Size and Trend Analysis including Segments (Combat UGV, Intelligence, Surveillance and Reconnaissance (ISR) UGV, Logistics UGV, Explosives and Mine Disposal UGV), Key Programs, Competitive Landscape and Forecast, 2022-2032 report provides the market size forecast and the estimated Compound Annual Growth Rate (CAGR) for the next ten years.The report covers industry analysis, including the key market drivers, trends, emerging technologies, and major challenges faced by industry participants.
It also offers insights regarding key factors and government programs that are expected to influence the demand for the military UGV market over the forecast period.
The evolving nature of urban warfare and the growth in technological advancements have enabled militaries to develop and utilize different-sized UGVs to support a variety of combat and support missions.Furthermore, the developments in artificial intelligence (AI) and communication technologies allow further expansion of their use in complex scenarios in contested and disruptive environments.
It will also continue to transform military equipment and tactics, especially with the integration of combat UGVs into force structures and future land operations.Countries such as the US, India, China, and Israel are investing huge amounts in the development of advanced UGVs as part of their military modernization efforts, which is expected to drive procurements in the coming decade.
The North American region is expected to lead investment in the sector globally, exhibiting a steady pace of growth over the forecast period.
The Combat UGV segment is anticipated to be the largest segment in the global military UGV market between 2022 and 2032.Combat UGVs are strategically designed to minimize the loss of personnel, including the cost that comes with having to lose a main battle tank.
These vehicles operate autonomously and detect and eliminate threats from a distance.Such advantages offered by these UGVs are expected to drive their procurement over the forecast period.
According to Harshavardhan D, Defense Analyst at GlobalData, "The modernization initiatives undertaken by the major militaries across the globe are anticipated to play a major role in the growth of the UGV market over the next decade.With UGV technologies slowly progressing towards maturity, countries are increasing their R&D spending on the development of sophisticated UGVs that can execute complex operations.
While this helps the militaries to reduce their reliance on foreign vendors for novel technologies, it also offers considerable export opportunities as the local players can enjoy first mover advantage in several untapped markets for UGVs. "
North American region is expected to dominate the global military UGV market between 2022 and 2032.The US has been the predominant spender on UGV development and procurement over the years.
The country is involved in several geopolitical conflicts involving urban and asymmetric warfare far from its territory, which is why it has been deploying UGVs to reduce soldier casualties.A major chunk of the investment from the US will be going into the acquisition of Combat UGVs, followed by logistics and ISR UGVs.
The country is also currently acquiring explosives and mine disposal UGVs from local manufacturers.
- The global military UGV market is expected to grow at a CAGR of 4.4% over the forecast period.
- The global military UGV market is classified into four categories: Combat UGV, Intelligence, Surveillance and Reconnaissance (ISR) UGV, Logistics UGV, and Explosives and Mine Disposal UGV.
- North America is expected to dominate the global military UGV market over the forecast period with a market share of 63.5%, followed by Europe and Asia-Pacific.
- Combat UGV is expected to be the largest segment among other military UGV categories over the forecast period.
Who Should Buy
- Defence Startup’s, Original Equipment Manufacturers (OEMs), Defence Planners, Military UGV Integrators, Venture Capital Firms, Government Agencies, Head of Marketing, Head of Sales, CEOs and Senior Executives.
- The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements.
- The Venture Capital Firms can utilize the project details, growth rate, and market size to identify and fund high potential startups.
In particular, the report provides an in-depth analysis of the following -
- Market size and drivers: Detailed analysis during 2022-2032, including 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 existing military UGV projects being executed and planned worldwide. It also provides procurement trends and the challenges faced by industry participants.
- Regional highlights: Study of the key regional markets, providing a demand analysis of multiple UGV segments.
- Major programs: Details of the key programs in each segment, which are expected to be executed during 2022-2032.
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global military UGV market. It provides an overview of key players, their strategic initiatives, and financial analysis.
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of the global military UGVs over the next ten years.
- Gain an in-depth understanding of the underlying factors driving demand for different military UGV 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 countries that are driving the global military UGV market, providing a clear picture of 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 military UGV market.
- Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top military UGV providers around the world. The company profiles also include information about the key products, alliances, recent contracts awarded, and financial analysis, wherever available.
Read the full report: https://www.reportlinker.com/p06360636/?utm_source=GNW
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