Northbrook, IL 60062 -- (SBWIRE) -- 06/14/2022 -- The report on the Unmanned ground vehicle market provides a detailed trend analysis from 2018 to 2027. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market.
MarketsandMarkets: The Unmanned ground vehicle market is estimated to be USD 2.7 billion in 2022 and is projected to reach USD 3.6 billion by 2027, at a CAGR of 5.7% from 2022 to 2027. The market is driven by various factors, such as use of advanced payloads in UGVs for several military & commercial applications, increased defense budgets of different countries for unmanned systems, and technological advancements in Unmanned ground vehicle.
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Based on mobility, Wheeled UGVs segment is expected to lead the unmanned ground vehicles market in for the forecast period.
Based on mobility, the wheeled vehicles segment is projected to grow from USD 1.14 billion in 2022 to USD 1.51 billion by 2027, at a CAGR of 5.8% during the forecast period.
Military application segment is estimated to grow at a highest CAGR during the forecast period
Based on application, the military application segment of unmanned ground vehicles market is projected to grow from USD 1.28 billion in 2022 to USD 1.70 billion by 2027. The growth of this segment can be attributed to the significant increase in UGV based military applications.
Autonomous segment is estimated to dominate the Unmanned ground vehicle market by mode of operation, during the forecast period.
Based on the mode of operation, the autonomous UGVs segment accounted for a share of 85.4% in 2022. This segment is projected to grow from USD 2.32 billion in 2022 to USD 3.07 billion by 2027, at a CAGR of 5.7% during the forecast period.
North America is expected to lead the unmanned ground vehicles market in 2022, with the US accounting for the largest share of the regional market. The growing demand for unmanned ground vehicles in the US and Canada and the development of new and technologically advanced payloads for a wide range of applications are key factors driving the market in North America.