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Unmanned Surface Vehicle Market Report 2024 - Unmanned Surface Vehicle Market Size, Growth, And Applications
Unmanned Surface Vehicle Market
According to The Business Research Company's, The unmanned surface vehicle (usv) market size has grown rapidly in recent years. It will grow from $1.02 billion in 2023 to $1.13 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to maritime surveillance and security needs, commercial applications in shipping and logistics, scientific research and ocean exploration, environmental monitoring and conservation, naval mine countermeasures.
The unmanned surface vehicle (usv) market size is expected to see rapid growth in the next few years. It will grow to $1.71 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to increasing adoption in offshore energy industry, advancements in autonomous navigation systems, expanding applications in maritime research, integration with unmanned aerial vehicles (uavs), global increase in maritime trade. Major trends in the forecast period include application of usvs in oceanographic research, focus on modular and scalable design, integration of remote sensing technologies, expansion of usv applications in defense, increased utilization in maritime security.
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Market Drivers and Trends:
Rising maritime security threats are expected to propel the growth of the unmanned surface vehicle (USV) market going forward. Maritime security threats refer to various risks and challenges that can compromise the safety, security, and operations of maritime activities such as terrorism, piracy, robbery, illicit movement of goods and persons, illegal fishing, and others. Unmanned surface vehicles (USVs) are used in maritime security for tasks such as surveillance, patrolling, and monitoring maritime areas that help to enhance situational awareness, gather real-time data, and provide support in areas that may be dangerous or difficult for manned vessels to access. The USVs, can operate alongside other human vessels, and improve the security forces' capacity to observe and respond to crises at sea. For instance, in July 2023, according to the International Chamber of Commerce, a Paris-based organization, in the initial half of 2023, there were 65 recorded incidents of piracy and armed robbery against ships, marking a rise from the 58 incidents reported during the corresponding period in 2022. Therefore, rising maritime security threats drive the growth of the unmanned surface vehicle (USV) market.
Technological advancement is a key trend gaining popularity in the unmanned surface vehicle market. Major companies in the unmanned surface vehicle sector are focused on innovating their products to strengthen and sustain their position in the market. For instance, in September 2022, Sefine Shipyard-Aselsan, a Turkey-based ship manufacturer, introduced Marlin SDA, the first unmanned surface vehicle with electronic warfare capability. The Marlin SDA is intended to be utilized in naval warfare operations for both defensive and offensive reasons in coastal and open sea environments. This technology will allow the autonomous vehicle to follow enemy ships and perhaps disrupt their radars. It also can be used for intelligence gathering, electronic warfare, target detection, and identification, and underwater and surface reconnaissance and surveillance.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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Major Key Players of the Market:
5G International Inc.; L3Harris Technologies; Atlas Elektronik GmbH; ECA Group; Elbit Systems Ltd.; Liquid Robotics Inc.; Rafael Advanced Defense Systems Ltd.; SeaRobotics Corporation; Teledyne Technologies Inc.; Textron Inc.; Israel Aerospace Industries; Maritime Robotics; Kongsberg Maritime; Saab AB;Thales Group; Fugro NV; Open Ocean Robotics; RanMarine Technology; Xera Robotics Pvt. Ltd.; Physical Sciences Inc.; Metron Inc.; TWI Technology Centre; ASV Global; Cavotec; ROV Aerospace Corp.; Mesodyne; deMITasse Energies; Blue Bear Plastics Private Limited; Oceaneering International Inc.; Waertsilae SAM Electronics
Unmanned Surface Vehicle (USV) Market 2024 Key Insights:
• The unmanned surface vehicle (usv) market size will grow to $1.71 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%.
• Surging Maritime Security Threats Booming Growth Of The Unmanned Surface Vehicle (USV) Market
• The Technological Surge In Unmanned Surface Vehicle Development
• North America was the largest region in the unmanned surface vehicle market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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