Unmanned Surface Vehicle Market Size
Unmanned Surface Vehicle (USV) Market size exceeded 500 million in 2022 and is projected to register over 5% CAGR during the forecast period 2023-2032.
The rise in the usage of solar batteries providing renewable & sustainable power to USVs is fueling their growth. The rise in demand for water quality monitoring owing to higher pollution rates and ocean data mapping that enables scientists to research previous climatic conditions are boosting the demand for unmanned surface vehicles.
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Furthermore, rising maritime security threats are prompting global navies to incorporate autonomous surface vehicles into their fleets, propelling the global unmanned surface vehicle market growth. These unmanned vehicles are widely used in disaster management services, particularly in search & rescue operations, preventive maintenance, and preservation of territorial and enclosed water areas.
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Unmanned Surface Vehicle Market Report Attributes
Report Attribute Details
Base Year 2022
Unmanned Surface Vehicle Market Size in 2022 USD 500 Million
Forecast Period 2023 to 2032
Forecast Period 2023 to 2032 CAGR 5%
2032 Value Projection USD 1 Billion
Historical Data for 2018 – 2022
No. of Pages 524
Tables, Charts & Figures 559
Segments covered Type, Application, Endurance, Operations, Systems, Hull Type, Size
Growth Drivers
Increase in demand for data mapping
Rising demand for threats in maritime security
Integration of AI in unmanned naval vehicles
Huge investment in oil & gas industry
Pitfalls & Challenges
Networking issues
Presence of low-cost substitutes
What are the growth opportunities in this market?
The limited endurance and range of USVs can restrict their operational effectiveness, consequently hindering the market. The shortage of skilled operators is another aspect that can restrict the growth of the USV market. Although autonomous & semi-autonomous USV technology is developing at a fast pace, skilled operators are still needed to make sure that these ships are operated safely and efficiently.
COVID Impact
COVID-19 caused tremendous effects on the unmanned surface vehicle market because of the sudden shutdown of manufacturing plants in every industry. Post-pandemic, there has been a tremendous rise in the application of USVs for ocean mapping. Solution providers and manufacturers are taking various strategic moves to enhance their products in the post-COVID-19 world. The attendees are engaged in various research & development projects to enhance USV technology.
Unmanned Surface Vehicle Market Trends
People, these Unmanned Surface Vehicles (USVs) are really making waves out there. They’re robotic boats that can go out and do all kinds of interesting things, from searching out the ocean for signs of whatever to monitoring our coasts. One of the primary reasons why these USVs are becoming such a hit is because they’re particularly useful for military and defense missions. They’re able to do things such as scout ahead, detect and dispose of mines, and even battle submarines. And get this? They’re a whole lot safer for the individuals operating them, and they’re able to accomplish things that manned vessels can’t. But it’s not all in the military that USVs excel. They’re also a big assist to oceanographers and scientists who are researching the ocean. These robot boats are able to gather all kinds of information regarding the water, such as its temperature, currents, and salinity. And they can even monitor the animals and plants that inhabit down there.
Unmanned Surface Vehicle Market Analysis
Discover more about the major segments defining this market
On the basis of application, the defense sector segment accounted for about 55% of the unmanned surface vehicle market share in 2022 and is likely to expand at a profitable rate by 2032. The rising need for USVs in anti-submarine warfare and special operations by military forces in high-priority missions, naval gunnery training, and firefighting & rescue missions will fuel their uptake in the application areas. Market vendors are integrating capabilities that enable real-time transmission of images as well as remote visual verification and recording of evidence.
On the basis of system, the market for unmanned surface vehicle is divided into propulsion, chassis material, payload, component, software, and communication. The communication segment was worth 100 million in 2022 and is likely to grow at a fastest rate. A communication system is a critical element in a USV. The communication system enables USVs to gather and send real-time data allows authorities to make informed and timely decisions, making them more popular for maritime surveillance.
Consequently, increasing need for maritime surveillance is driving the segment, as USVs offer an economical, efficient, and secure means of monitoring and surveillance in the maritime sector. This enhances the effectiveness and versatility of USVs for various applications such as defense, scientific research, and environmental monitoring. With a more efficient communication system, the USVs can execute a greater variety of tasks and missions. Learn about the most important segments defining this market
In 2022, roughly half of all unmanned surface vehicles (USVs) were remotely controlled.
That is to say, operators were able to sit in a different location and still monitor the vehicles. This is wonderful for sneaking around and spying on things in the ocean. But here’s the thingremote-controlled USVs require a good connection to function. And if they’re on a position with a great deal of electronic interference, such as a battlefield, the signal can be blocked or the opposing army will know where the USV is. That would be bad news. If it does happen, the USV must change over to autopilot driving or simply sit around like an inanimate piece of metal. Searching for region specific information?
Asia Pacific market for unmanned surface vehicles is on course to post gains of more than 10% through to 2032, driven by automation and robotics gain increasing traction in different end-use sectors.
USVs are finding application across the region due to their benefits, such as reduced cost of operation, enhanced safety, and the capacity to function in severe environments. They are being utilized across a range of industries such as defense, oil & gas, transportation, and oceanographic research. The uses of advanced technologies like artificial intelligence and machine learning are also driving market growth in the Asia Pacific region.
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Unmanned Surface Vehicle Market Share
Some of the major players operating in the unmanned surface vehicle market are
- 5G International Inc.
- BAE Systems
- ECA GROUPE
- lbit Systems Ltd.
- Fugro
- Kongsberg Maritime
- L3Harris Technologies, Inc.
- Liquid Robotics, Inc.
- Maritime Robotics AS
- OceanAlpha
- SAAB AB
- Sagar Defence Engineering
- Teledyne, Inc.
- Textron Systems
- Thales
These players focus on strategic partnerships and new product launches for market expansion. Furthermore, these players are heavily investing in research, allowing them to introduce innovative products and garner maximum revenue in the market.
