07 May 2020
Visiongain has published a new report entitled Unmanned Surface Vehicle (USV) Market Report 2020-2030: Forecasts by Type (Remotely Operated Surface Vehicle, Autonomous Surface Vehicle), by System (Propulsion, Communication, Payload, Chassis, Material, Component, Software), by Application (Defence, Commercial) plus Analysis of Leading Companies.
The global unmanned surface vehicle market was valued at US$645 million in 2019 and is expected to surpass US$2,020.8 million by 2030 (post COVID-19) while growing at a CAGR of over 11% over 2020-2030. Increasing demand for water quality monitoring and ocean data mapping along with growing need to enhance maritime security are key factors driving the growth of the global unmanned surface vehicle market.
The scope of the report is segmented into applications, types, systems, and region. In the applications, the defence segment held the largest market share in 2019 and will continue to dominate throughout the forecast period. This is attributed to the increasing popularity of USVs in situational awareness assistance and other military operations globally.
Based on the types, the remotely operated USV segment accounted for significant revenue share in 2019 and is expected to register the lucrative growth over the forecast period. The remotely operated USV segment was valued at over US$555.1 million in 2019 which is further projected to exceed US$1,579.2 million by 2030 while growing at a CAGR of more than 9% over the forecast period.
Based on the systems, the payload segment held the largest revenue share in 2019. Furthermore, the segment is likely to exhibit rapid growth over the forecast period. The segment is anticipated to witness a CAGR of 11.7% over the forecast period.
North America currently holds the largest share in 2019 for unmanned surface vehicle market owing to high spending by defence sector to enhance their combat capabilities in the region. Moreover, rise in introduction of various programs and agreement to deploy advanced unmanned surface vehicle are driving the market growth at a healthy rate. The North American market for unmanned surface vehicle was valued at over US$302.9 million in 2019 which is further projected to witness a CAGR of 9.9% by 2030 (post COVID-19 impact).
Furthermore, Asia Pacific is going to record growth at a faster pace because China and Japan the two leading countries in the region in terms of spending on autonomous surface vehicles. Further, India and rest of the Asia Pacific countries are slowly moving towards the adoption of USVs in defence sector to increase their sea surveillance capabilities. The market was valued at over US$88.0 million in 2019 which is projected to witness the fastest growth rate of 12.9% to surpass US$320.3 million by 2030 (post COVID-19 impact).
The prominent players operating in global unmanned surface vehicle market include ASV Global, Teledyne Technologies, Textron Systems, Atlas Elektronik, ECA Group, Searobotics, Elbit Systems, Rafael Advanced Defense Systems, and 5G International Inc. among other key companies operating worldwide.
Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to email@example.com or call her on +44 (0) 20 7549 9987.
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.
Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.
With increased overhaul and upgrade of aircrafts, special mission aircraft becomes increasingly more important due to the increase in special mission carried out throughout the world.
18 January 2021
The innovation in CIP market is driven by the development, upgradation, and integration of modem technology in Intrusion Detection Systems (IDS), video surveillance, biometric systems, communication systems, and the cyber security solutions.
07 January 2021
Where is the Military IFF (Identification, Friend or Foe) market heading? If you are involved in this sector you must read this newly updated report. Visiongain’s report shows you the potential revenues streams to 2031, assessing data, trends, opportunities, and business prospects there.
11 December 2020
Night Vision Technologies Market is driven by the increasing adoption of this technologies in surveillance, navigation and wildlife observation. Additionally, Companies are developing new night vision products using artificial intelligence to enhance its features.