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Study: Tech Advances to Drive Unmanned Ground Vehicle Sector’s Growth Through 2020

Study: Tech Advances to Drive Unmanned Ground Vehicle Sector's Growth Through 2020 - top government contractors - best government contracting event

Military vehicleThe global market for unmanned ground vehicles is forecast to grow at a compound annual growth rate of 32.72 percent to $8.26 billion in value by 2020, according to a MarketsandMarkets report.

MarketsandMarkets said Wednesday UGV technological advances as well as the increasing demand for the platform’s combat and non-defense applications are some of the factors expected to fuel market growth.

North America currently accounts for nearly 50 percent of global UGV market share, the report states.

The market research firm predicts China and India will invest heavily on UGV for both defense and industrial usage in the coming years.

The company also believes UGVs’ potential to reduce the risk to civilian life during hazardous and periculous missions could also help the sector grow.

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Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

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