The unmanned surface vehicle market is projected to grow from USD 616 million in 2021 to USD 1,038 million by 2026, at a CAGR of 11.0% from 2021 to 2026. The rising incidences of terrorism, cross-border dispute, and conflict across the globe have increased the need for enhanced border and maritime security. As such, countries across the globe are increasingly adopting unmanned systems for improved border and maritime patrolling, thus leading to the growth in demand for unmanned surface vehicles. The defense applications of these vehicles include mine countermeasures, anti-submarine warfare, and naval warfare. In the commercial sector, unmanned surface vehicles equipped with various sensor payloads are used for oceanographic research and data mapping. They are used to evaluate the quality, temperature, salinity, and pH value of water, among others. L3Harris Technologies (UK), Textron Inc. (US), Rafael Advanced Defense Systems Ltd. (Israel), ECA Group (France), Teledyne Technologies (US), and Elbit Systems (Israel) are some of the key players operating in the unmanned surface vehicle market. These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East By application, the defense segment is estimated to hold a larger share (~55%) of the USV market in 2021.Countries such as the US, Canada, France, and China are increasingly adopting USVs for defense applications; this is driving the growth of the USV market.
Elbit Systems was granted a contract to provide Seagull USVs to the Navy of an Asia Pacific country.Elbit Systems will supply Seagull USV systems that are particularly equipped to undertake Mine Countermeasures (MCM) operations, with the potential to add technology modules for anti-submarine warfare.
The contract will be completed over a 17-month pr.Under the defense application segment, the ISR subsegment is projected to register the highest CAGR during the forecast period.
USVs can be used as an important tool for exploration activities to extract minerals such as cobalt, zinc, and magnesium; these minerals are used in the fabrication of smartphones, laptops, and hybrid cars, among others.
Based on the propulsion system, the electric segment is projected to register the highest CAGR of 13.9% from 2021 to 2026, reaching USD 85 million by 2026 from an estimated USD 44 million in 2021. This segment’s growth is attributed to reduced complexity in the power distribution architecture, especially in autonomous USVs
The North America region is estimated to lead the Unmanned surface vehicles market in 2021 The North American region is estimated to lead the Unmanned surface vehicles market in the forecast period. The growth of the North America Unmanned surface vehicles market is primarily driven by increasing focus on increasing investments in Unmanned surface vehicles technologies by countries in this region. In addition, factors including increasing geopolitical tensions and increased defense-related expenditure are expected to drive the demand for the Unmanned surface vehicles market in the region
The break-up of the profiles of primary participants in the Unmanned surface vehicles market is as follows: • By Company Type: Tier 1 - 49%; Tier 2 - 37%; and Tier 3 - 14% • By Designation: C Level Executives - 55%; Directors - 27%; Others – 18% • By Region: North America - 27%; Europe - 55%; Asia Pacific - 9%, RoW – 9% L3Harris Technologies (UK), Textron Inc. (US), Rafael Advanced Defense Systems Ltd. (Israel), ECA Group (France), Teledyne Technologies (US), and Elbit Systems (Israel) are some of the key players operating in the unmanned surface vehicle market. These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East.
Research Coverage This market study covers the Unmanned surface vehicles market across various segments and subsegments.It aims at estimating the size and growth potential of this market across different segments based on size, type, Hull type, cruising speed, system, endurance, application, and region.
This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
Reasons to Buy this Report This report is expected to help market leaders/new entrants by providing them the closest approximations of the revenue numbers for the overall Unmanned surface vehicles market and its segments.This study is also expected to provide region-wise information about the applications wherein unmanned surface vehicles solutions are used.
It also aims at helping the stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies. This report is also expected to help them understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the growth of the unmanned surface vehicles market.
The report provides insights on the following pointers: • Market Penetration: Comprehensive information on unmanned surface vehicles products/ solutions offered by the top players in the market • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the unmanned surface vehicles market • Market Development: Comprehensive information about lucrative markets – the report analyses the unmanned surface vehicles market across varied regions. • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the unmanned surface vehicles market • Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the unmanned surface vehicles market
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235 pages •
By Global Industry Analysts
• Feb 2022
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