Unmanned Surface Vehicle Market Global Demand and Future Trends Till 2029 | USV Industry Analysis and Forecast Report by Fortune Business Insights™

·6 min read
Fortune Business Insights
Fortune Business Insights

Key Players Covered in Unmanned Surface Vehicle Market are Teledyne Technologies (The U.S.) ASV Global (The U.K.) Elbit Systems (Israel) SeaRobotics (The U.S.) Atlas Elektronik (Germany) Textron Inc. (US) ECA Group (France) 5G International (US) Rafael Advanced Defense Systems (Israel) Israel Aerospace Industries (Israel) Maritime Robotics (Norway) Liquid Robotics (US) Other prominent companies

Pune, India, June 30, 2022 (GLOBE NEWSWIRE) -- The growing demand for ocean data mapping in environmental science is expected to enable speedy expansion of the market, states Fortune Business Insights, in a report, titledUnmanned Surface Vehicle (USV)s Market Size, Share & Industry Analysis, and Regional Forecast, 2022-2029.” The increasing need for ISR missions for naval operations in the military is likely to spur numerous opportunities for the market.

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The Report Lists the Main Companies in the Unmanned Surface Vehicle (USV)s Market:

  • Teledyne Technologies (The U.S.)

  • ASV Global (The U.K.)

  • Elbit Systems (Israel)

  • SeaRobotics (The U.S.)

  • Atlas Elektronik (Germany)

  • Textron Inc. (US)

  • ECA Group (France)

  • 5G International (US)

  • Rafael Advanced Defense Systems (Israel)

  • Israel Aerospace Industries (Israel)

  • Maritime Robotics (Norway)

  • Liquid Robotics (US)

Market Segmentation:

By Application (Defense, Commercial), By Type (Surface, Sub-Surface), By System (Propulsion, Communication), By Mode of Operation (Autonomous Surface Vehicle, Remotely Operated Surface Vehicle), By Size (Small <7 Meters, Medium 7 to 11 Meters), By Endurance (Less than 100 hours, 100 to 500 hours), and By Hull Type (Kayak, Catamaran).

How Did We Develop This Report?

We have conducted extensive primary and secondary research to gather information about various aspects of this report. Our special interviews with end-user respondents and supply side respondents helped in gaining insights into the average pricing, per capita consumption trend, and average spending on products, growth rate, market size, and dynamics. We have also taken information from reputed industry journals, articles, and press releases of organizations operating in the field of Unmanned Surface Vehicle (USV)s.

Browse Detailed Summary of Research Report with TOC:

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Market Driver:

Introduction of AI Technologies in USVs to Drive Market

The increasing utilization of USVs in military applications including border and littoral zone patrol, submarine hunting, minesweeping, ISR, offensive capabilities, and seaborne targets are expected to foster healthy growth of the market. The integration of artificial intelligence (AI) in unmanned naval vehicles to improve combat operations for command-and-control applications is likely to spur opportunities for the market during the forecast period. Moreover, the growing commercial applications of USVs in oceanography, exploration and environmental sciences are expected to further enhance the development of the market in the near future. The rising requirement for USVs in the oil and gas industry is expected to spur lucrative business opportunities for the market.

Market Scope and Segmentation:

Base Year

2021

Historic Years

2018 - 2020

Forecast Years

2022 - 2029

Segments Covered

By Application (Défense, Commercial), By Type (Surface, Sub-Surface), By System (Propulsion, Communication), By Mode of Operation (Autonomous Surface Vehicle, Remotely Operated Surface Vehicle), By Size (Small <7 Meters, Medium 7 to 11 Meters), By Endurance (Less than 100 hours, 100 to 500 hours), By Hull Type (Kayak, Catamaran)

Forecast Units

Value (USD Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2022 to 2029

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Number of Companies Covered

Teledyne Technologies (The U.S.), ASV Global (The U.K.), Elbit Systems (Israel) SeaRobotics (The U.S.), Atlas Elektronik (Germany), Textron Inc. (US), ECA Group (France), 5G International (US), Rafael Advanced Defense Systems (Israel), Israel Aerospace Industries (Israel), Maritime Robotics (Norway), Liquid Robotics (US)

Report Coverage

Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Customization Scope

Avail customized purchase options to meet your exact research needs.

Regional Analysis:

Presence of Key Manufacturers to Favor Growth in Europe

Geographically, the unmanned surface vehicles (USVs) market is segmented into North America, Europe, Asia-Pacific, the Middle East, and the rest of the world. Europe is expected to hold the largest share in the global market during the forecasting period. The growth in the region is attributed to the increasing demand for unmanned surface vehicles by the navy and military for mine countermeasures (MCM), ISR activities, anti-submarine warfare (ASW), and oceanographic applications. The presence of eminent players as the ASV (UK), Atlas Elektronik (Germany), and ECA Group (France) is expected to bolster the healthy growth of the market in the region. North America is expected to witness a rapid growth rate during the forecast period owing to the rising defense expenditure. The increasing demand for USVs in commercial applications is expected to boost the growth of the market in the region.

Competitive Landscape:

Focus on Partnerships and Agreements by Key Players to Consolidate Industry

The growing collaborations and partnerships among industry players are expected to boost the growth of the market. For instance, in May 2018, Teledyne Marine and Research Products Development Company (RPDC) announced a long-term agreement for the commercialization of new technologies developed within Saudi Arabia. Furthermore, the focus on innovative USVs and CMS by eminent players is expected to retain their position. For instance, the implementation of USVs and naval Combat Management Systems (CMS) for targeting and mapping of enemy assets is expected to enable speedy expansion of the market.

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Key Development:

July 2018: ASV Global entered signed an agreement with Sonardyne International Ltd., the National Oceanography Centre (NOC), and SeeByte to deliver a long endurance, multi-vehicle, autonomous survey solution.

January 2018: Textron Systems announced its Cooperative Research and Development Agreement (CRADA) with Naval Sea Systems Command (NAVSEA).

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