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Unmanned Surface Vehicle Market by Application, System, Type, Mode of Operation, Size, Hull, Endurance and Region - Global Forecast to 2023

Unmanned Surface Vehicle Market: Global Forecast until 2023

  • November 2018
  • 162 pages
  • ID: 3816726
In this report:
The kayak (single hull) segment is expected to grow at the highest CAGR of ##.##% from 2018 to 2023.
The sub-surface segment is expected to grow at a higher CAGR of ##.##% from 2018 to 2023 as compared to the surface segment.
The ##-## hours segment is estimated at USD ##.## million in 2018 and is expected to reach USD ##.## million by 2023 at a CAGR of ##.##% during the forecast period.

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Growing need for ISR, water quality monitoring and data mapping is a main factor in the rising procurement of Unmanned Surface Vehicles, globally

The unmanned surface vehicle market size is forecasted to grow from $534.0M in 2018 to $1020.0M by 2023, at a Compound Annual Increase rate of 13.80 percent during the forecast period. The industry for USV is influenced by critical factors, including growing need for ocean data and mapping, maritime security, and asymmetric threats. On the other hand, the presence of low-cost substitutes, including UUVs pose a restraint to the market.

Defense segment to grow at topmost cagr during the estimate period in unmanned surface vehicle market

The top applications considered for the market study are commercial and defense.The defense segment is forecasted to account for the higher market share in 2018.

USVs are used for various defense applications, including mine counter measures, anti-submarine, and maritime security, among others.Unmanned underwater vehicles are also available for performing such applications.

Nevertheless, USVs offer different advantages over UUVs, as unmanned underwater vehicles have limited endurance, power, and payload capacity and cannot withstand in destructive wars, together with incapability of sending exact data due to tidal disturbances in the seas.

Payload segment is expected to account for the biggest market share in unmanned surface vehicle market during the outlook period

Payloads contain cameras, sensors, SONARs, X-band marine radars, visual systems, LiDAR, echo sounders, and others.The sector for payloads is growing as this equipment has significant uses for enhancing USV capabilities.

For example, the industry for camera payload is growing as these enable enhanced visual and thermal data collection. Sensor payloads are one of the critical payloads in USVs as these are used for examining undersea cables and classifying a wide variety of chemicals in seawater.

The unmanned surface vehicle market in North America (NA) is forecasted to dominate, and the sector in Europe (EU) is expected to rise at the highest CAGR (Compound annual growth rate)

The North American area is estimated to result the overall unmanned surface vehicle market in 2018, and is anticipated to continue to lead during the estimate period. The USA is considered to be the biggest developer, operator, and exporter of USVs, globally, resulting in the big share of the North American area in the overall unmanned surface vehicle market.

The industry in EU is expected to grow at the highest compound annual growth rate (CAGR) during the outlook period.This quick increase can be accredited to the growing demand from scientific research and survey markets.

In the European region maritime threats are continuously growing, affecting the transportation of goods and energy. Therefore, the industry demand for USVs is rising for maritime security.

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Break-up of profiles of primary members taking part in the A-SMGCS market:

• By Company category: Tier 1 - 35.0 percent, Tier 2 - 45.0 percent, and Tier 3 - 20.0 percent

• By Description: C-Level Executives- 35.0 percent, Directors - 25.0 percent, and Others - 40.0 percent

• By Area: North America continent - 45.0 percent, Europe (EU) - 20.0 percent, Asia Pacific (APAC) - 30.0 percent, Rest of the globe 5.0 percent

The unmanned surface vehicle market includes top players, including ASV Global, Teledyne Technologies, Textron Inc., ECA Group, Israel Aerospace Sectors, Atlas Elektronik, SeaRobotics, Maritime Robotics, Elbit Systems, Rafael Advanced Defense Systems, 5G International, and Liquid Robotics, among others.

Segment Research

The market study includes the unmanned surface vehicle market across segments.It aims at evaluating the market value and the increase potential of this market across several segments, including application, system, category, size, hull type, mode of operation, endurance, and area.

The market research also comprises a detailed competitive analysis of the top players in the sector, together with their company descriptions, main observations associated to product and business offerings, recent evolutions, and key industries strategies.

Why acquiring this study can help you:

The analysis will facilitate the market top players/new sector entrants in this sector with data on the best approximations of the revenue data for the global unmanned surface vehicle market and the sub-segments.This industry report will facilitate partners distinguish the competitive landscape and obtain additional insights to better option their businesses and to plan suitable go-to-market approaches.

The market research also benefits partners comprehend the pulse of the sector and offers them with info on main market drivers, market restraints, opportunities, and alternatives.

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