Global Autonomous Military Vehicle Market 2018-2022 to Post a CAGR of 16% | Technavio
LONDON--(BUSINESS WIRE)--Aug 22, 2018-- analysts forecast the global autonomous military vehicle market to grow at a CAGR of nearly 16% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global autonomous military vehicle market from 2018-2022. (Graphic: Business Wire)
Truck platooning is one of the major trends being witnessed in the . In vehicle platooning, multiple cars, buses, and trucks travel at an aerodynamically efficient distance and maintain the distance at high speeds. For platooning, the autonomous system installed in vehicles uses ADAS, along with high-end specific platooning algorithms, involving the use of radar, LiDAR, and cameras. Vehicles in the fleet communicate via wireless connectivity and automatically synchronize speed and braking actions, thereby, resulting in better fuel efficiency and improved traffic congestion control for all vehicles in the platoon.
According to Technavio analysts, one of the key factors contributing to the growth of the global autonomous military vehicle market is the increasing concerns over IED blasts incentivizing government-funded development:
Global autonomous military vehicle market: Increasing concerns over IED blasts incentivizing government-funded development
IEDs are one of the oldest types of weapons used in military warfare. They are employed to inflict grievous physical injuries and damage critical infrastructure. The use of IEDs is highly regulated and necessitate full adherence to international humanitarian law, especially the rules of distinction, proportionality, and precautions in attack. Although the indiscriminate use of IEDs against civilians or civilian objects is strictly prohibited, their unlawful use, particularly by non-state armed groups and rogue individuals, is rapidly rising.
According to a senior analyst at Technavio for research on defense, “Researchers have developed an augmented reality system, which will involve a combination of traditional cameras, thermal infrared sensors, and ground penetrating radar to track and identify potentially dangerous objects from up to 30m away. The augmented reality systems will be deployed on autonomous vehicles, drones, or robots before they are sent into the field. Complementing technologies installed in autonomous vehicles will help ensure that in case if an IED is missed by one scan, it is picked up by another.”
Global autonomous military vehicle market: Segmentation analysis
The global autonomous military vehicle market research report provides market segmentation by product (semi-autonomous vehicle and fully autonomous vehicle) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The semi-autonomous vehicle segment held the largest market share in 2017, accounting for nearly 72% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of nearly 54%. The region is expected to dominate the market through 2022, however, there will be a decrease in its market share of nearly 8%.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: DEFENSE OTHER DEFENSE
SOURCE: Technavio Research
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PUB: 08/22/2018 08:21 AM/DISC: 08/22/2018 08:21 AM