LONDON, June 13, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Micro Tactical Ground Robot Market Report 2023, the market will grow from $3.9 billion in 2022 to $4.4 billion in 2023, at a compound annual growth rate (CAGR) of more than 14%. Further, the market will reach a size of $7.3 billion by 2027, growing at a CAGR of more than 13%. North America was the largest region in the micro tactical ground robot market in 2022.
One of the primary drivers of the micro tactical ground robot industry's growth is the increase in defense expenditure. Defense budget refers to the portion of the federal budget allocated to defense, encompassing expenses related to personnel, training, medical costs, as well as weapon acquisition and maintenance. The rise in defense spending can lead to greater investment in military technologies, including micro tactical ground robots, thereby driving the demand for such robots.
Learn More In-Depth On The micro tactical ground robot Market
https://www.thebusinessresearchcompany.com/report/micro-tactical-ground-robot-global-market-report
Major micro tactical ground robot companies are The Boeing Company, Clearpath Robotics Inc., iRobot Corporation, Northrop Grumman Corporation, Perrone Robotics Inc., QinetiQ Group Plc., ReconRobotics Inc., Elbit Systems Ltd., Cobham Ltd., Endeavor Robotics Inc., and General Dynamics Corporation.
Key trend in this market is the emphasis on product innovation to enhance market appeal. Leading companies operating in the micro tactical ground robot sector are focusing on developing innovative solutions to strengthen their market position.
For instance, in June 2022, Elbit Systems Ltd., an Israeli defense electronics firm engaged in various defense, homeland security, and commercial programs, introduced COPAS-L. This new electro-optical (EO) payload facilitates intelligence, surveillance, target acquisition, and reconnaissance (ISTAR). With its compact size of 40 kg, COPAS-L enables light platforms like light tactical vehicles, UGVs, and surface boats to possess ISTAR capabilities and infrared laser cameras. The device's unique feature is its artificial intelligence video analytics, enabling Automatic Target Recognition and Classification, Video Motion Detection, and enhanced image processing.
Get A Free Sample Of The Global micro tactical ground robot Market Report
https://www.thebusinessresearchcompany.com/sample.aspx?id=9354&type=smp
The global micro tactical ground robot market is segmented as -
1) By Mode of Operation: Tethered, Tele-operated, Semi-autonomous, Autonomous
2) By Platform: Airborne, Land-Based, Naval
3) By Application: Intelligence, surveillance, and reconnaissance, Law enforcement, Explosive ordinance disposal, Chemical, biological, radiological, nuclear and explosives (CBRNE) and hazardous material (HAZMAT), Other Applications
By examining market size, growth rates, defense expenditure, major players, and product innovations, the micro tactical ground robot market report serves as a valuable resource for businesses seeking to capitalize on the opportunities presented by the expanding micro tactical ground robot market. It serves as a guide for companies looking to enhance their market position, identify potential partnerships or acquisitions, and align their strategies with the prevailing market trends.
Micro Tactical Ground Robot Global Market Report 2023 by The Business Research Company provides insights on the micro tactical ground robot market size, micro tactical ground robot market segments, micro tactical ground robot market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 5,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Learn More About The Business Research Company
The Business Research Company is a market intelligence firm pioneering in company, market, and consumer research. With offices all around the world, TBRC has specialist consultants in a variety of fields, including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model – World’s Most Comprehensive Database
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.
