Military Unmanned Surface Vehicle Market Size is expected to advance at a CAGR of 11.6% to arrive at $3,166.61Mn by 2028

According to our latest market study on "Military Unmanned Surface Vehicle Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component, Application, Technology, and Geography," the market is expected to grow from US$ 1,512.32 million in 2021 to US$ 3,166.61 million by 2028, by 2028, it is estimated to grow at a CAGR of 11.6% from 2022 to 2028. Rising Investments for the Development of Unmanned Surface Vehicles by Naval Forces is Catalysing the Military Unmanned Surface Vehicle Market Growth

Military Unmanned Surface Vehicle Market Strategic Insights :-
Market Size Value in: US$ 1,512.32 Million in 2021
Market Size Value by: US$ 3,166.61 Million by 2028
Growth rate: CAGR of 11.6% from 2022 to 2028
Forecast Period: 2022-2028
Base Year: 2021
No. of Pages: 150
Historical data available: Yes
Segments covered: Component, Application, Technology, and Geography
Regional scope: North America; Europe; Asia Pacific; Latin America; MEA
Country scope: US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage: Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Military unmanned surface vehicles or military USVs are suitable for unmanned surveillance, tactical water surface missions, and search and rescue missions conducted by naval forces. The development of large-sized, fully autonomous surface vehicles such as Sea Hunter and Sea Hawk used by the US Navy is likely to generate huge opportunities for military unmanned surface vehicle market vendors during the forecast period. Further, the USVs provide support to the armed forces across various applications that include mine warfare, including mine detection and neutralization; surface warfare such as armed forces support; military deception, including communication signals deception, radar signals deception, acoustic signals deception, decoy countermeasures, military information support operations, etc.; anti-submarine warfare capabilities; and other C4ISR capabilities.

Northrop Grumman Corporation, L3Harris Technologies, Teledyne Technologies, Elbit Systems Ltd, Textron Inc., Israel Aerospace Industries Ltd., Rafael Advanced Defense Systems, ECA Group, China State Shipbuilding Corporation (CSSC) and OceanAlpha are a few key Military Unmanned Surface Vehicle Market players profiled in the study. Several other major market players were studied and analyzed during this market research study to get a holistic view of the market and its ecosystem. The report provides detailed market insights, which helps the key Military Unmanned Surface Vehicle Market players strategize their growth.

The global military unmanned surface vehicle market is segmented into component, application, technology and Geography. Based on component, the military unmanned surface vehicle market is segmented into communication system, chassis frame, propulsion system, and others. Based on application, the military unmanned surface vehicle market is segmented into ISR, combat, mine detection, and others. Based on technology, the military unmanned surface vehicle market is bifurcated into semi-autonomous and fully autonomous. It also provides current market size and estimates between 2019 and 2028 concerning 5 major regions: North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America.

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Several countries have been focusing on the development of unmanned surface vehicles (USVs) that are capable of carrying out a variety of missions such as maritime surveillance, transportation of military cargo, anti-submarine warfare, moving troops, and support naval missions & operations. Further, several armed forces are using USVs for maritime ISR operations, including maritime patrolling and military surveillance, as one of the prime operations across the marine borders of different countries.

The rising adoption of underwater mine countermeasure systems is a major factor propelling the adoption of military USVs. Further, the mine detection countermeasure systems worldwide are undergoing several developments. For instance, in August 2021, the US Navy announced that it completed the first testing of its littoral combat ship-based unmanned mine detection system. Similarly, in July 2021, the Republic of Singapore Navy announced that the USV passed the testing and qualification process for the identification and neutralization of underwater mines for its naval operations. Such developments are catalyzing the military unmanned surface market growth globally.

The limited range of USVs and lack of control of signals & communication between USV and the controller when the USV goes beyond the line of sight or control can lead to collision with naval vessels on the field. Further, as per the current scenario of USV industry, the USVs are not suitable for ship-to-ship combat operations due to the high capabilities of manned naval vessels that can dominate the USVs. As a result, such restricting factors are leading to a lesser preference for USVs by armed forces for surface-to-surface combat operations.

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Several defense forces are collaborating with different unmanned surface vehicle manufacturers to develop countermeasure-based unmanned systems that can be deployed across the armed forces and carry out countermeasure operations independently. For instance, in April 2021, the US Navy awarded a contract to Textron Inc. for the development of an Unmanned Influence Sweep System for mine warfare applications. In addition, in 2020, the US Navy announced their spending is expected to be approximately US$ 12 billion for unmanned aircraft, surface vessels, and underwater systems from 2021 to 2025. Such instances are expected to boost the demand for USVs across the North America unmanned surface vehicles market.

In terms of volume, small sized patrolling USVs and mine detection USVs are likely to dominate the market. However, in terms of value, larger USVs such as Seahawk and Sea Hunter are likely to dominate the market during the forecast period. In addition, various armed forces across the world are also competing in terms of unmanned surface vehicle procurement in larger quantities. A few countries across the world, such as the US and China, have a large number of USV manufacturers. However, a few countries, such as India, Japan, and South Korea, rely on other countries for the procurement of their USV technologies.

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