Dublin, Feb. 14, 2024 (GLOBE NEWSWIRE) -- The "Global Unmanned surface vehicles Market by Application (Defense, Commercial), Type (Autonomous Surface Vehicles, Semi-Autonomous Surface Vehicles), System, Cruising Speed, Hull Type, Endurance, Size and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The unmanned surface vehicles market is estimated to be USD 0.8 billion in 2023 and is projected to reach USD 1.2 billion by 2028, at a CAGR of 10.3% from 2023 to 2028
This market study covers the unmanned surface vehicle market across various segments and subsegments. It aims to estimate this market's size and growth potential across different parts based on type, propulsion systems, application, mode of operation, and region. This study also includes an in-depth competitive analysis of the key players in the market, their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies they adopted.
The expansion of this market can be ascribed to the increasing demand in military spheres such as combat support, Intelligence, Surveillance, and Reconnaissance (ISR), mine countermeasure, among others. Additionally, there is a surge in commercial applications, specifically in the realms of inspection and hydrographic surveying.
L3Harris Technologies (US), Kongsberg Maritime (Norway), Textron Inc. (US), Exail Group (France), Saab AB (Sweden), and Fugro (Netherlands) are the key players in the unmanned surface vehicles market.
Payload: The largest segment of the unmanned surface vehicles market, by system
The payload section encompasses crucial elements like cameras, sensors, SONAR, X-band marine radars, visual systems, LIDAR, and echo sounders. Cameras stand out as a cost-effective and mature payload, presenting substantial prospects for advanced technological enhancements.
Sensors play a pivotal role in mapping and detecting obstacles, examining undersea cables, and classifying chemicals. SONAR, employing advanced techniques like Displaced Phase Centre Analysis, significantly contributes to achieving high-resolution images, consolidating the payload segment's dominance in the market.
Diesel/gasoline engine: The largest segment of the unmanned surface vehicles market, by propulsion
Diesel and gasoline engines dominate the propulsion segment in unmanned surface vehicles (USVs) due to their proven reliability, fuel efficiency, and versatility. These internal combustion engines offer a robust power-to-weight ratio, facilitating optimal performance across a range of mission profiles. Their widespread adoption is driven by the established infrastructure supporting conventional fuels, ensuring logistical convenience and extended operational range.
Additionally, the simplicity of maintenance and global availability of skilled technicians further solidify the market share for diesel and gasoline engines in the USV propulsion segment. This preference is underpinned by the engines' ability to deliver sustained power for extended durations, critical for the diverse applications of unmanned surface vehicles.
500 - 1,000 Hours: largest segment of the unmanned surface vehicles market, by endurance.
The 500 - 1000 hours endurance segment dominates the unmanned surface vehicle (USV) market due to its optimal balance between sustained operational capability and cost-effectiveness. This duration strikes a crucial equilibrium, meeting the demands of extended mission durations without incurring excessive expenses.
In applications such as surveillance, reconnaissance, and environmental monitoring, where prolonged deployment is paramount, the 500 - 1000 hours range offers a reliable and efficient solution. This segment's popularity can be attributed to its ability to cater to a diverse range of mission requirements, making it a preferred choice for end-users seeking a cost-efficient yet high-performance solution within the endurance focused USV market.
North America: The largest contributing region in the unmanned surface vehicles market
The United States allocates substantial resources towards defense-related initiatives, demonstrating a noteworthy emphasis on unmanned surface vehicles (USVs) in strategic applications like anti-submarine warfare, mine countermeasures, and surveillance. The burgeoning offshore activities, particularly in mine hunting, are anticipated to propel the widespread adoption of USVs within the United States in the foreseeable future.
The 2022 US budget allocated a significant sum of USD 20.6 billion specifically for maritime vehicles, encompassing unmanned variants. The demand for USVs is also particularly pronounced in the oil and gas sector, with the United States Energy Information Administration reporting a remarkable 16% surge in US crude oil production in 2022, reaching a historic high of nearly 11.6 million barrels per day.
This heightened demand from both defense and industrial sectors positions the US region as the predominant market for USVs, substantiated by substantial investments and expanding applications within critical domains.
Scope of the Report
- Market Drivers: Market Drivers such as the Increasing demand for unmanned surface vehicles for defense applications, the growing maritime threats and security concerns, and other drivers covered in the report.
- Market Penetration: Comprehensive information on unmanned surface vehicles offered by the top players in the market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the unmanned surface vehicle market
- Market Development: Comprehensive information about lucrative markets - the report analyses the unmanned surface vehicle market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the unmanned surface vehicle market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the unmanned surface vehicle market
Company Profiles
- Fugro
- Textron Inc.
- Exail Technologies
- Thales
- Teledyne Technologies Incorporated
- Elbit Systems Ltd.
- Kongsberg
- Qinetiq
- Lig Nex1
- Bae Systems
- Saab Ab
- Atlas Elektronik GmbH
- Searobotics Corp.
- Rafael Advanced Defense Systems Ltd.
- 5G International, Inc.
- Liquid Robotics, Inc.
- Martac
- Edge Pjsc Group
- Ocean Aero
- Deep Ocean Engineering, Inc.
- Clearpath Robotics, Inc.
- Saildrone, Inc.
- Seafloor Systems, Inc.
- Zhuhai Yunzhou Intelligence Technology Ltd.
- Maritime Robotics
- Ocius Technologies
For more information about this report visit https://www.researchandmarkets.com/r/f5epmj
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