The global unmanned ground vehicles market size is projected to reach USD 7,452.2 million by the end of 2026. Applications in the defense sector have caught the eye of several investors from across the world. According to a report published by Fortune Business Insights, titled “Unmanned Ground Vehicles Market Size, Share and Global Trend by Mobility (Wheeled, Tracked, Hybrid, and Legged) By Size (Small, Medium, Large, Very Large, and Extremely Large) By Mode of Operation (Tethered, Tele-operated, and Autonomous), By System (Payload, Controller System, Navigation System, Power System, and Others) By Application (Military, Commercial, Law Enforcement, and Federal Law Enforcement), and Regional Forecast, 2019-2026,” the market was worth USD 2,570.2 million and will exhibit a CAGR of 14.95% during the forecast period, 2019-2026.
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North America to Emerge Dominant; Presence of Several Large Scale Companies to Aid Growth
The report analyzes the ongoing unmanned grounded vehicles market trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, the market in North America is likely to account for the highest UGV market share in the coming years. The presence of several large-scale companies in several countries across this region will aid the growth of the market. As of 2018, the market in North America was worth USD 899.5 million and this value is likely to increase further in the coming years. The market in the Asia Pacific will also witness a considerable growth rate in the coming years, accounting for the growing applications of the product in the defense sector.
Information source: https://www.fortunebusinessinsights.com/unmanned-ground-vehicles-market-102525