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.
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.
Factors Influencing 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.
Leading Competitors
The leading prominent companies profiled in the global terrain robot market are:
Scope of the Report
The global terrain robot market segmentation focuses on Type, Product, Application, and Region.
Segmentation based on Type
Segmentation based on Product
Segmentation based on Application
Segmentation based on Region