Growth Drivers and Opportunities in the USV Market by Forecast

ByPraj Nene
In Flight Entertainment and Connectivity Market

The global Unmanned Surface Vehicle Market size was valued at USD 2.05 billion in 2022 and is anticipated to grow from USD 2.13 billion in 2023 to USD 2.89 billion by 2030, exhibiting a CAGR of 4.4% during the forecast period.

 

The Unmanned Surface Vehicle (USV) market is experiencing rapid growth as advancements in technology drive the adoption of autonomous solutions across various industries. USVs, also known as autonomous surface vehicles, offer a wide range of applications, including defense, oil and gas exploration, environmental monitoring, and maritime research. This article explores the key players in the USV market, segmentation, driving factors, and regional analysis.

Browse Report:

https://www.fortunebusinessinsights.com/unmanned-surface-vehicle-usv-s-market-102526

Key Players:

  • Kongsberg Maritime (Norway)
  • SaaB AB (Sweden)
  • L3 Harris Technologies (U.S.)
  • Textron Inc (U.S.)
  • ECA Group (France)
  • Thales Group (France)
  • Fugro (Netherlands)
  • Atlas Elektronik GmbH (Germany)
  • ASV (U.K.)
  • Elbit Systems (Israel)
  • Rafael Advanced Defense Systems Ltd. (Israel)
  • 5G international (U.S.)

Segmentation: The USV market can be segmented based on various factors, including application, size, and technology.

By Application:

  • Defense
  • Oil and Gas Exploration
  • Environmental Monitoring
  • Maritime Research
  • Others

By Size:

  • Small USVs (Mini and Micro USVs)
  • Medium USVs
  • Large USVs

By Technology:

  • Semi-Autonomous USVs
  • Autonomous USVs

Driving Factors:

  1. Technological Advancements: Continuous advancements in automation, artificial intelligence, and sensor technologies drive the development of sophisticated USVs, enhancing their capabilities and applications.

  2. Growing Demand for Autonomous Solutions: The increasing need for cost-effective and efficient solutions in defense, maritime surveillance, and environmental monitoring is fueling the demand for USVs.

  3. Rising Maritime Security Concerns: The growing emphasis on maritime security, including border protection, anti-piracy measures, and surveillance, is boosting the adoption of USVs for enhanced situational awareness.

  4. Expansion of Oil and Gas Exploration Activities: USVs are being employed in the oil and gas industry for offshore exploration, pipeline inspection, and environmental monitoring, contributing to market growth.

What does the Report Include?

The market report provides in-depth analysis on key aspects such as optimization of manufacturing processes and R&D capabilities. Additionally, the report provides details about the market trends and highlights key industry developments, regional analysis, and key company profiles using several research methodologies. Moreover, it enlists the factors that will contribute to the growth of the market between 2020 and 2027.

Regional Analysis: The USV market exhibits a global presence, with key regions including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

  • North America: The region dominates the USV market, driven by significant investments in defense, research, and development activities. The presence of major industry players also contributes to the market’s growth.

  • Europe: Increasing maritime security concerns, along with the development of autonomous technologies, are propelling the USV market in Europe. Collaborations between industry players and research institutions further stimulate growth.

  • Asia-Pacific: The Asia-Pacific region is witnessing substantial growth due to rising defense budgets, maritime trade activities, and investments in autonomous technologies by countries like China and Japan.