Market Share of Unmanned Ground Vehicle Industry
The unmanned ground vehicle market is semi-consolidated. Some prominent players in the market are Teledyne FLIR LLC, General Dynamics Corporation, Rheinmetall AG, QinetiQ, and Israel Aerospace Industries Ltd. Most of the UGV procurements and developments involve local players in developing countries.
Some smaller local companies are also partnering with global players to gain technological expertise. In a relatively new market like the UGV market, the number of start-ups and smaller companies with unique technological capabilities is high. In this regard, mergers and acquisitions are also expected to help players develop their capabilities. In May 2021, Teledyne Technologies announced the successful completion of the acquisition of FLIR Systems. Also, in May 2021, AeroVironment Inc., a robotic systems manufacturer for military and public safety applications, completed its acquisition of Telerob GmbH for USD 45.4 million.
Such acquisitions will help the companies develop their product portfolios and improve their share in the market. Product innovation will also play a vital role in the players' success, as the capabilities and applications of UGVs are constantly increasing.
Unmanned Ground Vehicle Market Leaders
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Teledyne FLIR LLC
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General Dynamics Corporation
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Rheinmetall AG
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Israel Aerospace Industries Ltd.
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QinetiQ Group plc
*Disclaimer: Major Players sorted in no particular order
