The study considered major activities to estimate the current market size for unmanned surface vehicles. Exhaustive secondary research was undertaken to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both, top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
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The unmanned surface vehicle market is estimated to be USD 534 million in 2018 and is projected to reach USD 1,020 million by 2023, at a CAGR of 13.8% from 2018 to 2023. Increase in demand for ISR, water quality monitoring, maritime security and threats, and the need for ocean data and mapping are the major factors that are expected to drive the unmanned surface vehicle market during the forecast period. The demand for unmanned surface vehicles is leading to the increasing interest of various manufacturers and their inclination towards investing in the unmanned surface vehicle market. Government organizations and private agencies have been investing significantly in the manufacture and development of advanced and efficient unmanned surface vehicles
The European region is expected to exhibit the highest growth rate in the unmanned surface vehicle market, and is projected to grow at the highest CAGR during the forecast period. This growth is due to the demand for unmanned surface vehicles by navies for ISR activities and oceanographic studies, along with the presence of key manufacturers, such as the ECA Group (France), ASV (UK), and Atlas Elektronik (Germany) are in the region. Atlas Elektronik accounts for the largest share with reference to the manufacture of unmanned surface vehicles in the European region.
The major players in the unmanned surface vehicle market include ASV Global (UK), Teledyne Technologies (US), Textron Inc. (US), ECA Group (France), Israel Aerospace Industries (Israel), Atlas Elektronik (Germany), SeaRobotics (US), Maritime Robotics (Norway), Elbit Systems (Israel), Rafael Advanced Defense Systems (Israel), 5G International (US), and Liquid Robotics (US), among others. ASV Global (now L3 ASV) is one of the key market players engaged in forming strategic partnerships and agreements so as to increase the adoption of USVs for commercial and defense applications by surveyors, scientific researchers, and defense organizations.
Recent Developments
In July 2018, ASV Global entered into a partnership with Sonardyne International Ltd., the National Oceanography Centre (NOC), and SeeByte to deliver a long endurance, multi-vehicle, autonomous survey solution.
In May 2018, Teledyne Marine and Research Products Development Company (RPDC) signed an agreement to collaborate on global commercialization of new technologies developed within Saudi Arabia.
In January 2018, Textron Systems signed a Cooperative Research and Development Agreement (CRADA) with Naval Sea Systems Command
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https://www.marketsandmarkets.com/Market-Reports/unmanned-surface-vehicle-market-220162588.html
To Know More - Download PDF
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=220162588
The unmanned surface vehicle market is estimated to be USD 534 million in 2018 and is projected to reach USD 1,020 million by 2023, at a CAGR of 13.8% from 2018 to 2023. Increase in demand for ISR, water quality monitoring, maritime security and threats, and the need for ocean data and mapping are the major factors that are expected to drive the unmanned surface vehicle market during the forecast period. The demand for unmanned surface vehicles is leading to the increasing interest of various manufacturers and their inclination towards investing in the unmanned surface vehicle market. Government organizations and private agencies have been investing significantly in the manufacture and development of advanced and efficient unmanned surface vehicles
The European region is expected to exhibit the highest growth rate in the unmanned surface vehicle market, and is projected to grow at the highest CAGR during the forecast period. This growth is due to the demand for unmanned surface vehicles by navies for ISR activities and oceanographic studies, along with the presence of key manufacturers, such as the ECA Group (France), ASV (UK), and Atlas Elektronik (Germany) are in the region. Atlas Elektronik accounts for the largest share with reference to the manufacture of unmanned surface vehicles in the European region.
The major players in the unmanned surface vehicle market include ASV Global (UK), Teledyne Technologies (US), Textron Inc. (US), ECA Group (France), Israel Aerospace Industries (Israel), Atlas Elektronik (Germany), SeaRobotics (US), Maritime Robotics (Norway), Elbit Systems (Israel), Rafael Advanced Defense Systems (Israel), 5G International (US), and Liquid Robotics (US), among others. ASV Global (now L3 ASV) is one of the key market players engaged in forming strategic partnerships and agreements so as to increase the adoption of USVs for commercial and defense applications by surveyors, scientific researchers, and defense organizations.
Recent Developments
In July 2018, ASV Global entered into a partnership with Sonardyne International Ltd., the National Oceanography Centre (NOC), and SeeByte to deliver a long endurance, multi-vehicle, autonomous survey solution.
In May 2018, Teledyne Marine and Research Products Development Company (RPDC) signed an agreement to collaborate on global commercialization of new technologies developed within Saudi Arabia.
In January 2018, Textron Systems signed a Cooperative Research and Development Agreement (CRADA) with Naval Sea Systems Command
To Know More
https://www.marketsandmarkets.com/Market-Reports/unmanned-surface-vehicle-market-220162588.html
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