The global UGV market is projected to grow from $8.3 billion in 2026 to $13.1 billion by 2031, driven by military modernization, defense spending, and civilian adoption across agriculture, mining, and infrastructure sectors. AI-powered autonomous systems and advanced sensor technologies are key growth enablers, though battery life limitations remain a challenge. North America leads the market, supported by strong defense ecosystems and technology infrastructure.

Oshkosh (OSK) has declined 15.7% over four weeks and is now in oversold territory with an RSI reading of 27.84. Despite the recent selloff, Wall Street analysts have raised earnings estimates by 0.8% over the past month, and the stock holds a Zacks Rank #2 (Buy) rating, suggesting a potential near-term rebound as selling pressure exhausts itself.

Oshkosh reported Q2 2026 adjusted EPS of $2.87, beating consensus estimates by 10.39%, with revenues rising 6.7% to $2.92 billion. However, the company cut full-year 2026 earnings guidance by ~$0.50 per share to $11.00 due to slower-than-expected fire truck production ramp, despite stronger Access segment outlook. Operating margins contracted across segments due to adverse product mix and higher manufacturing costs. The stock has a Zacks Rank #3 (Hold) with downward estimate revisions.

Oshkosh Corporation stock plummeted 10.6% after reporting mixed Q1 2026 earnings. While the company beat sales expectations with $2.3B in revenue (up 0.2% YoY), it significantly missed on earnings with $0.85 per share (pro forma) versus expected $1.04, and actual GAAP earnings were only $0.68 per share, down 60% year-over-year. The company also reported negative free cash flow of $189.1M. Despite the disappointing results, management maintained full-year guidance of $10.90 per share GAAP earnings, suggesting solid demand visibility.

Polaris beat Q1 2026 earnings expectations with strong revenue growth and margin expansion, but guided for flat sales through 2026 and reported a GAAP loss. The company's partnership with defense startup Forterra to manufacture autonomous ground vehicles (Mesa drone trucks) could reignite growth. While analysts raised price targets, most maintained neutral ratings, citing the need for stronger sales growth.

The global mine disposal vehicle market is projected to grow from $2.06 billion in 2025 to $3.27 billion by 2030, driven by rising defense budgets, technological innovations in autonomous systems, and increased humanitarian demining initiatives. Key developments include Advanced Blast & Ballistic Systems' Dragon UGV and a strategic partnership between Rheinmetall AG and DOK-ING to develop advanced unmanned disposal systems. North America leads the market while Asia-Pacific shows the fastest growth potential.

SG Capital Management LLC completely exited its stake in Oshkosh Corporation, selling all 557,006 shares in the third quarter of 2025. The sale represents a significant portfolio change, with the company previously holding OSK as its second-largest holding.

Forterra introduced four integrated autonomous mission modules (AutoDrive, TerraLink, OASIS, and Vektor) designed to enhance military logistics, mobility, and communication capabilities through advanced data processing and interoperability technologies.

Oshkosh reported Q2 2025 earnings beating estimates with $3.41 EPS, $2.73 billion revenue, and raised full-year guidance to $11.00, despite challenges in Access segment and declining year-over-year revenue.

JPMorgan analyst raised Oshkosh's price forecast to $106, while maintaining a Neutral rating. The analyst anticipates improving FCF post-2025 will support increased share repurchases.

The global armored vehicles market is expected to grow from $15.3 billion in 2024 to $20.1 billion by 2030, driven by trends like modularity, hybrid/electric propulsion, and integration with command and control networks. Key players in the market include BAE Systems, General Dynamics, and Lockheed Martin.

Joby Aviation's stock surged in October due to a buy rating from Needham and progress in the electric vertical takeoff and landing (eVTOL) industry, including regulatory approval and a partnership with Uber. However, the stock gave up some gains in early December as the rally in eVTOL stocks appeared overdone.