Autonomous Trucks
Autonomous mining trucks are a $1.6 billion market and currently account for approximately 2% percent of all mining trucks, but there is tremendous opportunity with revenue expected to increase to $12.6 billion by 2031. In addition to mining trucks, autonomous drilling equipment, dozers, loaders and graders are coming to mining sites. “Autonomous technology is starting to be sought after by mid-tier mining firms.”Tim Ledbetter, vice president of R&D and automation for Epiroc, a productivity partner for the mining, infrastructure and natural resources industries, believes autonomy is the future of mining. Caterpillar, with more than 550 autonomous mining trucks in operation, reports productivity improvements of up to 30% versus manned mining trucks and as of May 2022, had not recorded a single lost time injury in 90 million miles driven. WHAT MINING COMPANIES WANTThe market for autonomous mining trucks consists of both original equipment manufacturers (OEMs) and aftermarket autonomous solutions.