15 Sep 2021
Posted in Aerospace, Defense & Security
Israel Aerospace Industries has potential to capture growing UGV market with new vehicle, says GlobalData
Following the news that Israel Aerospace Industries has unveiled a new UGV at the DSEI conference;
William Davies, Associate Defense Analyst at GlobalData, a leading data and analytics company, offers his view:
“This new vehicle, the REX MK II, has logistical capabilities as well as offensive ones. The development of this UGV builds on unmanned capabilities already developed by the IAI, including the older model ‘Rex UGV’ and the ‘Jaguar’.
“The new REX MK II is designed to be more manoeuvrable than its predecessor, with more advanced autonomy. A potential ongoing client for this vehicle will be the British military, who signed a contract with IAI as part of an experimental program – indicating that the UK likely sees UGV’s as an important part of a modern military.
“The global UGV market will grow at a compound annual growth rate (CAGR) of 4.3% to reach *US$1.3bn by 2031, according to GlobalData. Europe will be the fastest growing region, occupying a market share of over 46% in the next 10 years.
“This also indicates that Israel Aerospace Industries has ambitions in the British and European market, and the firm commented that they have also made sales to unspecified European countries.”
*Information based on GlobalData’s report: ‘The Global Military Unmanned Ground Vehicle Market 2021–2031’