Market Size of Unmanned Ground Vehicle Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.56 Billion |
| Market Size (2029) | USD 4.91 Billion |
| CAGR (2024 - 2029) | 13.87 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Unmanned Ground Vehicle Market Analysis
The Unmanned Ground Vehicle Market size is estimated at USD 2.56 billion in 2024, and is expected to reach USD 4.91 billion by 2029, growing at a CAGR of 13.87% during the forecast period (2024-2029).
Though the global military spending increased by 2.6% to reach USD 1981 billion in 2020, according to the Stockholm International Peace Research Institute (SIPRI), the ongoing global economic slowdown is anticipated to result in a subsequent decline in defense spending on a short-term basis during the forecast period, which may ultimately impact the flow of investments in the emerging UGV industry.
There is a growing use of UGVs to carry out counter-insurgency and combat operations. This is primarily to reduce human casualties in such situations. UGVs are also being used in various missions to enhance military situational awareness in urban warfare in conjunction with UAVs. The demand for UGVs is also increasing for civil and commercial applications, such as in the oil and gas sector, airports, law enforcement, firefighting, and agriculture, among others.
Several countries are significantly spending on the R&D of unmanned ground systems to overcome the challenges associated with manned systems. Standardization, reliability of the systems, and the requirement for reduced size, weight, and power (SWaP) are some of the prominent challenges for the manufacturers of UGVs.
