Unmanned surface vehicle market is expected to grow from USD 470.1 million in 2017 to USD 938.5 million by 2022 at a CAGR of 14.83% from 2017 to 2022.
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The key players in the Unmanned Surface Vehicle (USV) Market include – Autonomous Surface Vehicle Limited (U.K.), Textron Inc. (U.S.), ECA Group (France), Israel Aerospace Industries (Israel), Elbit Systems (Israel), among others.
North American region dominates the unmanned surface vehicle market in 2016, and is expected to continue its dominance during the forecast period. The U.S. is considered to be the largest developer, operator, and exporter of USVs, globally, thereby contributing to the North American unmanned surface vehicle market.
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The key applications considered for the market study are commercial and defense. The defense segment is estimated to account for the largest share among all the applications.
Unmanned surface vehicles are used for several defense applications, such as mine counter measures, anti-submarine, and maritime security, among others.
The hybrid segment is projected to grow at the highest growth rate, as these propulsion systems have various advantages over single propulsion such as greater endurance, low noise operations, and greater reliability.
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The study segments the unmanned surface vehicle (USV) market on the basis of application (defense, commercial, scientific research, and others), size (small, medium, large, and extra large), propulsion system (electric system, mechanical system, hybrid, solar, and others), modes of operation (semi-autonomous and autonomous), and payload (sensors, cameras, INS, X-band marine radars, visual systems, SONAR, and others) and maps these segments and sub-segments across major regions, namely, Asia–Pacific, North America, Europe, the Middle East, and Rest of the World. The report provides in-depth market intelligence regarding the market dynamics and the major factors influencing the growth of the unmanned surface vehicle (USV) market (drivers, restraints, opportunities, and industry-specific challenges), along with analysis of micro markets with respect to individual growth trends, prospects, and their contribution to the unmanned surface vehicle (USV) market.
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