Technavioâ€™s market research analyst estimates the growing demand for advanced autonomous sea systems to result in market growth during the period of 2016 to 2020. The augmented spending on military expansion and the increasing procurement of unmanned naval vessels by governments across the globe are expected to result in this marketâ€™s impressive CAGR of more than 6% by 2020.
This market research report estimates eminent factors, such as the growing use of COTS component, to drive market growth during the forecast period. The COTS component enables system reuse and reduces the time and cost required for developing unmanned sea systems. The ability of COTS components to provide a clear roadmap for the minimization of investment risks and the development of a product is expected to result in market growth during the forecast period.
Geographical segmentation of the unmanned sea system market
Americas APAC EMEA In this market study, analysts estimate the Americas to be the largest market for unmanned sea systems during the forecast period. Factors like the augmented procurement of unmanned sea systems by the US Navy and the increased spending on unmanned sea systems by agencies like DARPA are examples of some growth-promoting factors, which results in this regionâ€™s high market share of nearly 39% by 2019.
Competitive landscape and key vendors
This market is extremely competitive and is characterized by the presence of large vendors like Atlas, Elektronik and BAE Systems. The vendors in this market compete on the basis of product capability, design, and technology to gain maximum market prominence during the forecast period. The vendors that have the ability to produce highly capable and efficient unmanned sea systems at competitive costs are envisaged to gain a competitive edge over their rivals.
The top five leading vendors of the market include -
Atlas Elektronik BAE Systems General Dynamics Mitsubishi Heavy Industries Raytheon The other prominent vendors analyzed in this market study are BaltRobotics, Bluefin Robotics, Boston Engineering Corporation, Gate Elektronik, Kongsberg, Lockheed Martin, Ocean Aero, Palmarii Dynamics, Saab, and Teledyne Technologies.
Growth drivers, challenges, and upcoming trends - Unmanned sea systems
Upcoming trends like the augmented use of advanced on-board electronics systems are rapidly gaining popularity due to their extensive real-time applications.Â Recently, it has been observed that the military is increasingly utilizing on-board electronic systems for unmanned sea systems as it helps them to carry out surveillance and reconnaissance activities at sea. Additionally, it also helps in the development of fully autonomous unmanned sea systems that can operate remotely and provide critical intelligence and/or attack capabilities.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the unmanned sea system market. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report
What are the key factors driving the unmanned sea system market in the defense industry? What are the key market trends impacting the growth of the unmanned sea system market in the defense industry? What are the various opportunities and threats faced by the unmanned sea system market in the defense industry? Trending factors influencing the market shares for EMEA, APAC, and Americas? A key outcome of the five forces analysis on the unmanned sea system market in the defense industry? Growth forecast of the unmanned sea system market in the defense industry until 2020? Technavio also offers customization on reports based on specific client requirement.
Related reports -
Global Offshore Patrol Vessel Market 2015-2019 Global Military Communication Market: Forecast and Research Analysis 2015-2019 Global Electric Unmanned Aerial Vehicles Market 2014-2018
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Gross Domestic Product
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