Dallas, TX -- (SBWIRE) -- 09/17/2014 -- According to the new market research report "Unmanned Ground Vehicle Market by Application (Commercial, Defense, & Homeland Security), Technology (Tethered, Tele-operated, Semi-autonomous, Fully-autonomous), Payload (Fixed, Role Specific), Type (Locomotion, Size, Weapons, Energy Source) & by Geography (North America, Europe, Asia-Pacific, the Middle East, Latin America, Africa) - Forecasts & Analysis (2014-2020)", published by MarketsandMarkets, Unmanned Ground Vehicles Market is estimated to be $1.51 Billion in 2014 and is anticipated to reach $8.26 Billion by 2020 at a CAGR of 32.72%, which includes an in-depth analysis of application and geography.

Browse more than 115 market data tables with 69 figures spread through 185 pages and in-depth TOC on "Unmanned Ground Vehicle Market".

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The major challenges include incorporating new technology before it matures and verifying the operational safety of the UGV. Survivability and adaptability to extreme environmental conditions is expected to restrain the market.

North America holds a share of almost 50% of the global UGV market. Asia-Pacific is expected to indicate stringent growth with increasing investments in defense and commercial applications in emerging countries such as China and India. Technological advancements in UGVs, its success in combat performances, and the rising demand for non-defense applications is expected to drive the unmanned ground vehicle market in future. A reduction in risks to human life through UGV applications in hazardous and periculous circumstances is expected to trigger the UGV market, globally.

The Unmanned Ground Vehicle (UGV) market research report includes a detailed study of the UGVs in the defense, commercial, and homeland security sector. This report provides the market analysis of the market over the next six years. It discusses the industry, market, and technology trends that currently prevail in the UGV market. The market report analysis categorizes in the global market on the basis of types, technology, payloads, applications, regional, and country analysis. The market over the next few years is expected to exhibit a robust growth of 32.72% from 2014 to 2020. The market is valued at $1.51 billion in 2014 and is expected to reach $8.26 billion by 2020.

The study briefs the market dynamics in the unmanned ground vehicle market with a detailed regional and country-wise analysis of the UGV technologies and applications. The technological advancements used to improve the UGV functionality and autonomic decision making capabilities for complex remote operations drive the market over the upcoming years. The U.S. and U.K. account for nearly 53% of the global UGV supply. The U.S., U.K., Germany, and Japan contribute largely to the UGV demand.

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Countries such as China and India in the Asia-Pacific region prove to be emerging markets. The report provides insights into regional and technological trends along with the market share analyses for major countries. The unmanned ground vehicle market report includes a detailed study of leading companies with respect to their financial analysis, products &services, and key developments so as to provide meticulous competitor analysis.

The unmanned ground vehicles market is moved by the reduced risks associated with the use of UGVs, increasing demand for UGVs in the commercial and defense sectors, and better technological innovations that have created a demand for UGVs in performing complex operations with the least human intervention and better safety. The success of UGVs in combat performances proves the reliability of UGVs in emergency situations. This is expected to be adopted by the Military of Defense for their activities in the countries of the Asia-Pacific region. Reduced defense budgets in the North American and European countries in the recent years are expected to hamper the growth of this market. The limited endurance for batteries and its incapability to perform longer duration missions is expected to restrain the market. There is huge scope for research and development of UGVs in increasing the operational efficiency and providing complete autonomy. Investments are made by growing regions to adopt autonomous control systems for various applications.

North America accounted for 50.3% of the Unmanned Ground Vehicle Market in 2014. Large scale UGV production and demand in the U.S. and Canada will continue to influence the share of these countries in the UGV market over the forecast period. Also, new experimentation with UGVsto patrol installations and detection of intruders or enemy force will continue to drive the growth of the market in the North American region. The European region has the second highest share in the Unmanned Ground Vehicle market with Germany, France, and U.K. to be the prominent markets. The UGV’s operation, maintenance, and training market will prove to provide a vast scope globally over the forecast period. The UGV applications for border patrolling and homeland security to tackle improvised IEDs, bomb disposal, and other surveillance and reconnaissance activities is expected to boost this market across the globe. China and India are expected to be the potential markets from the Asia-Pacific region in future. The increasing defense spending by China for the modernization of its army and the UGV developed by India for the detection and diffusion of IEDs marks proves the scope for UGVs in these countries. Japan is the major player in the production of robots in the entertainment industry and humanoids. The countries are globally investing greatly in the research and development of tactical UGVs.

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