Portland, OR -- (SBWIRE) -- 11/20/2017 -- The unmanned ground vehicle (UGV) Market is a mechanical machine that moves along the surface of ground whose task is to carry or transport something, it does not carry a human being. The UGV provides flexible robotic platform along with providing multipurpose mobility support. The major applications of the vehicles are in the defense sector; it includes providing surveillance information, carry supplies, assists in explosive activation. Moreover, the vehicles are used in emergency services that include police and ambulance.

Reduction in risk of human life and impressive vehicle combat performance drive the market. Moreover, increased demand in civilian applications, which includes homeland security and commercial purpose also fuel the growth. The cuts in defense budgets by the developed countries and the restricted battery life of the vehicles limit the market growth. However, rise in demand to increase operational efficiency and demand for autonomous control systems are some of the lucrative market opportunities for the unmanned ground vehicle market.

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The unmanned ground vehicle market is segmented on the basis of size, mode of locomotion, operation, application, and geography. On the basis of size, the market is divided into small, lightweight, medium, and heavy. The mode of locomotion includes tracked, wheeled, and legged. On the basis of operation, the market is bifurcated into teleoperated and automated. Based on application, the market is categorized into defense and commercial. The small size type segment dominated the market in 2016.

By geography, the unmanned ground vehicle market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is projected to grow at the highest CAGR during the forecast period.

The unmanned ground vehicle market is dominated by key players that include Armtrac Limited, Northrop Grumman Corporation, DOK-ING, Cobham plc., HORIBA MIRA Ltd., ICOR Technology, General Dynamics Corporation, RE2, Inc, Clearpath Robotics Inc and ENDEAVOR ROBOTICS.

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KEY BENEFITS FOR STAKEHOLDERS

The study provides an in-depth analysis of the unmanned ground vehicle market, with current and future trends to elucidate the imminent investment pockets.
Information regarding key drivers, restraints, and opportunities is provided.
Porter's Five Forces analysis illustrates the potency of buyers and suppliers participating in the market.
The quantitative analysis of the market from 2016 to 2023 is provided to elaborate the market potential.