The 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.