ALBANY, New York, May 2, 2017 /PRNewswire/ --
According to a new report by Transparency Market Research (TMR), the global micro tactical ground robots market is highly competitive, owing to the presence of a large pool of participants. The top six players, namely, QinetiQ, Boeing Co., Thales S.A., Roboteam, Northrop Grumman, and iRobot Corp., together held nearly 64% of the overall market in 2016.
The market is technology driven and, hence, the leading players heavily concentrate on technological advancements to expand their business. Over the coming years, their focus is expected to shift towards strategic partnerships in order to strengthen their positions in this market, states the report.
Analysts at TMR expect the opportunity in the worldwide market for micro tactical ground robots to rise at a CAGR of 17.30% during the period from 2017 to 2025, increasing from a US$1.57 bn in 2016 to US$6.36 bn by the end of the forecast period. The explosive ordinance disposal segment has been reporting the most prominent demand for these robots across the world. Thanks to the augmenting usage of these robots in ensuring public safety by detecting and diffusing explosives kept in public places and vehicles, this trend is likely to remain same over the next few years.
Tele-operated Micro Tactical Ground Robots to Report Strong Demand
The research report has considered tethered, tele-operated, semi-autonomous, and autonomous modes as the main modes of operations for micro tactical ground robots. Among these, the tele-operated robots registered a higher demand than others with a share of more than 50% in 2016. The trend is expected to continue on the same line in the near future with the increasing popularity of tele-operated robots. Thanks to the gradual development of wireless technology, the efficiency of tele-operated ground robots is anticipated to enhance over the next few years, reflecting greatly on their sales. However, growing trend towards autonomous robotics is likely to increase the demand for semi-autonomous and autonomous robots extensively in the years to come. The rising need for lesser control of human operators is projected to raise the demand for these robots in coming years.
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Geographically, the study segments the global market in the Middle East and Africa, North America, Europe, Latin America, and Asia pacific. Among these, North America dominated the overall market in 2016 with a share of 45%, thanks to the increased deployment of these robots in warfare by the U.S. In the coming years, this regional market is expected to retain its position on the grounds of the increasing uptake of military robotics, thanks to the rise in spending of the U.S. government on defense and military. The advancements in robotics technology is also anticipated to boost the North America market for micro tactical ground robots.
Increasing Government Spending on Defense to Boost Market's Growth
"The increasing government spending on defense and military across the world is having the most prominent impact on the global micro tactical ground robot market", says a researcher at TMR. With the growing concern for national security, governments of developed and emerging economies have increased their spending on military and defense, which is reflecting significantly on the uptake of these robots. In addition, the extensive investments in military robotics is likely to propel this market over the next few years.
On the other hand, the high maintenance costs of tactical ground robots may hamper the growth of this market in the years to come, states the research study.
The study presented here is based on a report by Transparency Market Research (TMR), titled "Micro Tactical Ground Robot Market (Application - Intelligence, Surveillance and Reconnaissance, Law Enforcement, Explosive Ordinance Disposal, and Chemical, Biological, Radiological, Nuclear, and Explosives (CBRNE) and Hazardous Material (HAZMAT); Mode of Operation - Tethered, Tele-Operated, Semi-Autonomous, Autonomous) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025."
Get more information from Research Report Press Release: http://www.transparencymarketresearch.com/pressrelease/micro-tactical-ground-robot-market.htm
The global micro tactical ground robot market has been segmented into:
- Intelligence, surveillance, and reconnaissance
- Law enforcement
- Explosive ordinance disposal
- Chemical, biological, radiological, nuclear and explosives (CBRNE) and hazardous material (HAZMAT)
By Mode of Operation
> North America
- Rest of North America
- Rest of Europe
> Asia Pacific (APAC)
- Rest of APAC
> Middle East & Africa
- Rest of Middle East and Africa (MEA)
> Latin America
- Rest of Latin America
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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SOURCE Transparency Market Research