Global News: 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 Compound Annual Growth Rate (CAGR) of 13.8% from
2018 to 2023
According to the new market
research report on the "Unmanned
Surface Vehicle (USV) Market by Application (ISR, MCM, Oceanography,
Hydrography), System (Propulsion, Communication, Payload, Chassis), Type
(Surface, Sub-surface), Mode of Operation, Size, Hull, Endurance and Region -
Global Forecast to 2023", 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 Compound Annual Growth Rate (CAGR) of 13.8% from 2018 to
2023. This growth can be attributed to the rising demand for maritime security,
protection of shallow waters & ports, and need for ocean data &
mapping, globally.
Browse 95 market data Tables and 36 Figures spread through 161 Pages
and in-depth TOC on "Unmanned Surface Vehicle (USV) Market - Global
Forecast to 2023"
View detailed Table of Content here –
Defense segment to grow at a
higher CAGR in the unmanned surface vehicle market, among all applications
during the forecast period
Unmanned Surface Vehicle Market
Defense segment is projected to
grow at a higher CAGR during the forecast period due to the significant demand
from navies across the world for purposes, such as surveillance,
reconnaissance, anti-submarine warfare, and mine countermeasures. Most of the
players have invested in large sized USVs for combat operations, cargo supply,
and lethal and non-lethal armament, among others. In North America, the defense
segment accounts for the highest market share of the global unmanned surface
vehicle market and major emphasis has been placed on the autonomy and
intelligence of USVs.
The payload segment of the
unmanned surface vehicle market by system to grow at the highest CAGR during
the forecast period
Based on system, the global
unmanned surface vehicle market has been segmented and analyzed in terms of
payload which include sonars, sensors, cameras, visual systems, X-band radars,
and others. The payload market is led by the camera segment as it is
cost-effective and provides ample opportunities for more advanced technological
developments.
North America and European region
show the highest potential for implementation of unmanned surface vehicles
Press Release:
The unmanned surface vehicle
market is led by North America, as of 2017, owing to the technological
advancements and the growing incidences of terrorism in the region. The market
is driven by increasing demand for water quality monitoring, ocean data
mapping, asymmetric threats, and maritime security. In the European region,
USVs are playing important roles in Mine Countermeasures (MCM) and various other
countries in Europe are also focusing on building new MCM-dedicated vessels.
BRIC countries, especially the Asia Pacific region, has also become a
significant region for growth of the market for USVs.
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.
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