The global terrain robot market value was US$ 0.41 billion in 2020. The global terrain robot market value is forecast to reach US$ 1.41 billion by 2030, with a growing compound annual growth rate (CAGR) of 14% during the forecast period from 2021-2030.
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Terrain robots are lightweight mobile robots designed to meet the strategic requirements of diverse industries. The terrain robot’s goal is to explore an obscure climate on its own and recognize objects of interest. In addition to its primary applications in security and reconnaissance, it can also detect & refuse landmines, identify bombs and explosives, put out fires, regulate hazardous materials, and support post-disaster rescue missions. This robot uses a multi-agent system architecture that uses asynchronous data communication and an infrared rangefinder to detect obstacles. A robot can be controlled manually, as well as pre-programmed or controlled through an online control console.
The U.S. Bureau of Economic Analysis and the U.S. Census Bureau reports that the goods and services deficit rose from $68.7 billion in January 2023 to $70.5 billion in February, an increase of $1.9 billion. Due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion, the goods and services deficit increased in February. The goods and services deficit has decreased this year by $35.5 billion, or 20.3% when compared to the same period in 2022. $10.8% more, or $49.5 billion, was exported. Imports cost $2.2% more, or $14.0 billion, than exports.
Factors Influencing Market Growth
- Terrain robots are always improving in order to assist the military in managing explosives in their patrols. Manufacturers are also leveraging new technologies such as Zigbee, Radiofrequency, and Digital Terrain Mapping (DTM) to develop highly advanced robots with sensors and guidance technology to make operations easier. Thus, a rise in economies and the development of automation globally are driving the growth of the global terrain robot market share.
- The automation of the mining and construction industries is the primary reason for the growth of the terrain robot market during the forecast period.
- Terrain robots are experiencing rapid growth due to an increase in military & defense applications. In addition, machine vision systems have the potential to grow the market.
- The design challenges associated with robots may slow down the market growth.
Impact Analysis of COVID-19
The COVID-19 outbreak has significantly impacted the global terrain robot industry. A significant impact on the raw material market was the procurement of raw materials, wherein time and shipping costs were major concerns. Moreover, the mining and construction industries temporarily ceased operating due to a lack of workers. However, it created lucrative markets for terrain robots during the forecast period. Post pandemic, the terrain robot market is likely to expand rapidly.
Regional Insights
North America dominates the market for terrain robots as security threats grow internally and externally. During the forecast period, the emergence of key players in the terrain robot market will further boost the market’s growth in the region.
The terrain robot market is forecast to grow strongly in Asia-Pacific due to the occurrence of major key players. Further, the growing acceptance of terrain robots is likely to boost growth in the coming years.
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Leading Competitors
The leading prominent companies profiled in the global terrain robot market are:
- Boston Dynamics
- Dr Robot Inc.
- Endeavor Robotics, Inc.
- Evatech, Inc.
- Inspector Bots
- NIDES Ltd.
- Roboteam
- Stanley Innovation
- SuperDroid Robots, Inc.
- Telerob
- Other Prominent Players
Scope of the Report
The global terrain robot market segmentation focuses on Type, Product, Application, and Region.
Segmentation based on Type
- Wheeled
- Tracked
- Legged
- Hybrid
Segmentation based on Product
- Hardware
- Software
- Services
Segmentation based on Application
- Military & Defense
- Mining & Construction
- Agriculture
- Others
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Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
What is the goal of the report?
-The market report presents the estimated size of the ICT market at the end of the forecast -period.
-The report also examines historical and current market sizes.
-During the forecast period, the report analyzes the growth rate, market size, and market valuation.
-The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
-The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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