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NEW YORK, Feb. 21, 2022 /PRNewswire/ — The Autonomous Military Vehicle Market Share is expected to increase by USD 457.09 million from 2020 to 2025, at an accelerated CAGR of 11.10%, according to the recent market study by Technavio.
Segmentation by Product (In-Scope/Out-of-Scope)
- In-Scope:
- Semi-autonomous vehicle:
The autonomous military vehicle market share growth by the semi-autonomous vehicle segment will be significant during the forecast period. A semi-autonomous vehicle is controlled by a human operator from a remote location via an established communication network. All cognitive movements are processed based on the inputs provided by the operator. The vehicle operator analyses the sensory feedback captured from the line-of-sight visual observation or from remote sensory inputs. Thus, such applications may contribute to segment growth during the forecast period.
- Out-of-Scope:
- Fully autonomous vehicle
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Moreover, the report also provides Value Chain Analysis which helps companies gain a competitive advantage in the market. The Value Chain of the Autonomous Military Vehicle Market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service
- Support activities
- Innovation
Highlights-
- Segmentation- The report extensively covers market segmentation by Product (semi-autonomous vehicle and fully autonomous vehicle) and Geography (North AmericaAPAC, EuropeMEA, and South America).
- Key Companies- BAE Systems Plc, Elbit Systems Ltd., General Dynamics Corp., Kratos Defense and Security Solutions Inc., Lockheed Martin Corp., Northrop Grumman Corp., Oshkosh Corp., Polaris Inc., Rheinmetall AG, and RUAG International Holding Ltd. among others
- Driver- Increasing concerns over the IED blast incentivizing government-funded development to drive the market.
- Challenge– System reliability and uncertainty in user acceptance of autonomous features to hamper the market growth
Download FREE Sample: for more additional information about the Autonomous Military Vehicle
Vendor Insights-
The autonomous military vehicle market is fragmented and the vendors are deploying growth strategies such as contract acquisitions, product and aftermarket service quality, reliability, and cost to compete in the market.
- BAE Systems Plc- The company offers autonomous military vehicles which provide crucial insights into the capabilities of integrated autonomous technologies on future battlefields.
- Elbit Systems Ltd.- The company offers autonomous military vehicles such as Elbit Systems’ Stereo Vision System (SVS) allows unmanned ground vehicles (UGVs) to autonomously detect and classify image-based objects.
- General Dynamics Corp.- The company offers autonomous military vehicles such as Multi-utility Tactical Transport (MUTT) and Tracked Robot 10-ton (TRX).
Find additional highlights on the vendors and their product offerings.
Full story available on Benzinga.com
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