According to a new market research report published by Credence Research, the market for unmanned surface vehicles (USVs) is estimated to grow with a CAGR of 11.69 per cent during the forecast period from 2019 to 2027 and a registered market value of US$ 1.82 billion in 2018.
Autonomous drones and aerial vehicles are common sights and are used in a number of end-use applications. However, rapid growth is not limited to aerial unmanned aerial vehicles and land drones, but the growth of unmanned surface vehicles is also gaining momentum. Unmanned surface vehicles (USVs) are widely used for ocean data, scientific research, mapping, commercial and maritime safety. Consistent growth in all of the above applications has certainly given rise to the demand for unmanned surface vehicles, and demand is expected to grow at a rapid pace in the coming years. In addition, USVs witnessed a rapid increase in their importance in military and defense applications. These vehicles provide unmatched surveillance to the maritime borders and are often used for preventive measures in the event of an emergency. The rapid adoption of such autonomous vehicles in military and defense applications has certainly encouraged the growth of the USV market.
Browse the full report at “Unmanned Surface Vehicles (USVs) Market”
In 2017, North America appeared as the global market leader for unmanned surface vehicles (USVs). The region is one of the largest defense and military spenders due to the presence of the United States and the rapid spread of autonomous vehicles across all battlefronts has generated a positive wave of growth for USVs. In terms of market growth, Asia Pacific is expected to show the fastest growth in the adoption of autonomous vehicles and, as a result, the unmanned Surface Vehicles Market.
The research analysis covers exhaustive analysis of leading unmanned surface vehicles (USVs) vendors including Elbit Systems Ltd., Rafael Advanced Defense Systems Ltd., Teledyne Technologies, Inc., Textron, Inc., ASV Global, Atlas Elektronik GmbH., 5G International, Inc., Eca Group, Liquid Robotics, Inc., and Searobotics. The USVs market is still in nascent stages of development with few companies leading the way in the market. However, the market holds tremendous potential for new companies trying to venture in the unmanned surface vehicles market. Consequently, the market is expected to become more fragmented in coming years. Furthermore, these companies also expected to lock horns in terms of technological advancements and new improved version of unmanned surface vehicles are anticipated to appear in the market in next few years.
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By Mode of Operation
- Scientific Research
- Oil & Gas
- Renewable Energy
- Off-shore Survey
- Others (Search & Rescue, Debris Removal, etc.)
By Geography Segment
- North America (U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India, Rest of Asia Pacific)
- Rest of the World (Middle East & Africa, Latin America)