Dublin, May 06, 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. 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.
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.
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall unmanned surface vehicle market. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The unmanned surface vehicle market is experiencing substantial growth, primarily driven by escalating maritime security concerns. The increasing trend toward international cooperation and joint operations among nations is fostering demand for unmanned surface vehicles, contributing to regional and global maritime stability.
The report provides insights on the following pointers:
- 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
Key Topics Covered:
Executive Summary
- Defense Segment to Account for Largest Market Share in 2023
- 500-1,000 Hours Segment to Register Fastest Growth During Forecast Period
- Payload to be Largest Segment During Forecast Period
- Single Segment to Secure Leading Market Position During Forecast Period
- >30 Knots to Surpass Other Segments During Forecast Period
- Autonomous Segment to Acquire Maximum Market Share in 2028
- Large Segment to Dominate Market During Forecast Period
- Asia-Pacific to be Fastest-Growing Market During Forecast Period
Premium Insights
- Attractive Opportunities for Players in Unmanned Surface Vehicle Market - Increase in Demand for Effective Surveillance
- Unmanned Surface Vehicle Market, by Endurance - 500-1,000 Hours Segment to Dominate During Forecast Period
- Unmanned Surface Vehicle Market, by Application - Defense to be Fastest-Growing Segment During Forecast Period
- Unmanned Surface Vehicle Market, by Hull Type - Single Segment to Command Largest Market Share in 2023
- Unmanned Surface Vehicle Market, by Size - Small Segment to Record Higher CAGR During Forecast Period
- Unmanned Surface Vehicle Market, by Solution - Payload to be Leading Segment During Forecast Period
- Unmanned Surface Vehicle Market, by Region - India to be Fastest-Growing Country-Level Market During Forecast Period
Key Market Dynamics
Drivers
- High Demand for Water Quality Monitoring and Ocean Data Mapping
- Surge in Asymmetric Threats and Need for Maritime Security
- Growing Capital Expenditure in Offshore Oil and Gas Industries
Restraints
- Availability of Low-Cost Substitutes
Opportunities
- Advancements in Naval Technologies
- Rapid Adoption of Unmanned Surface Vehicles (USVs) in Defense Operations
- Rise in Defense Budgets for USVs
Challenges
- Unclear Navigation Rules and Need for Human Intervention
- Absence of Robust Collision Avoidance Systems in USVs
- Interoperability Issues Between USVsand Existing Maritime Systems
Case Studies
- Use of Norbit's Sonar Devices for Mapping Beaver Burrows
- Use of Oceanalpha Sl40 USV for Hydrographic Surveying of Hamburg Port
- Use of Oceanaplha M80 USV for Offshore Wind Farm Scouring and Cable Survey
- Use of Uni-Pact USV for Near-Shore Topographic and Bathymetry Data
Technology Analysis
- Key Technologies
- Cross-Platform Operation
- Marine-AI Software
- Anti-Collision Technology
- Supporting Technologies
- HD Camera
- Object Recognition
- Mapping
- Localization
- Predictive Maintenance
Key Technology Trends
- Autonomous Refueling
- Collaborative Unmanned System
- Special Monitoring of Applied Response Technology
- Control Architecture for Robotic Agent Command and Sensing Technology
- Launch and Recovery System
- NIMH Battery
- Maritime Swarming Technology
Impact of Megatrends
- Unmanned Surface Vehicles as Weapons of War
- Data Dissemination
- Artificial Intelligence
- Maritime Autonomy Surface Test Bed
- 3D Printing
- Cybersecurity
Companies Profiled
- 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/89zh2a
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