According to a new research report pertaining to the all terrain robot market published by Transparency Market Research, the global all terrain robot market is expected to reach value of ~ US$ 540 Mn by 2027, expanding at a CAGR of 14.5% from 2019 to 2027. According to the report, the global all terrain market would continue to be influenced by a range of macroeconomic and market-specific factors during the forecast period.
Government Investments for Strengthening Their Military Forces Driving the Global All Terrain Robot Market
- Owing to the needs of modern technology, especially in hi-tech regional wars, countries across the globe are spending more on their defense sectors for the deployment of advanced technologies. This move is also aimed to address the challenges of complex counterinsurgency and counterterrorism operations.
- All terrain robots can perform on various types of hazardous terrains. AI-powered all terrain robots can perform remote operations, travel across hazardous terrains, carry out border patrolling, and execute surveillance missions.
- Furthermore, these robots are also useful in air strikes on evasive targets, monitoring of coastal waters for adversaries, reconnaissance mission, provision of emergency services, and execution of search and rescue operations
- Due to the large number of benefits offered by all terrain robots, they are expected to be increasingly used for various military and security applications.
Military & Defense Segment to Account for a Leading Share of the Global All Terrain Robot Market
- The report offers detailed segmentation of the global all terrain robot market in terms of type (wheeled, tracked, legged, and hybrid) and application (military & defense, mining & construction, agriculture, and others). The global all terrain robot market has also been segmented based on region (North America, Europe, Asia Pacific, Middle East & Africa, and South America).
- Among the applications, the military & defense segment accounted for a leading share of the global all terrain robot market in 2018. The segment is anticipated to maintain its dominance in the global all terrain robot market during the forecast period also.
- Better performance offered by legged all terrain robots is likely to drive the global all terrain robot market during the forecast period.
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North America to be a Highly Lucrative Region of the Global All Terrain Robot Market
- North America witnesses the presence of a large number of companies operating in the all terrain robot market.
- In terms of revenue, North America accounted for a major share of the global all terrain robot market in 2018, owing to the high demand of all terrain robots for use in military & defense and mining & construction applications in the region
Mergers and Acquisitions by Key Players to Boost Global All Terrain Robot Market
The report provides the profiles of leading players operating in the global all terrain robot market. These include
- Boston Dynamics
- Dr Robot Inc.
- ENDEAVOR ROBOTICS, INC.
- Evatech, Inc.
- Inspector Bots
- NIDES Ltd.
- Stanley Innovation
- SuperDroid Robots, Inc.