Unmanned Surface Vehicle Market size is set to grow by USD 2.31 billion from 2024-2028, Increased research and investment in USVs to boost the market growth, Technavio

NEW YORK, June 10, 2024 /PRNewswire/ — The global unmanned surface vehicle market  size is estimated to grow by USD 2.31 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 14.19%  during the forecast period.  Increased research and investment in USVs is driving market growth, with a trend towards increased emphasis on use of ai in USVs. However, high number of substitute products  poses a challenge. Key market players include 5G International Inc., AutoNaut Ltd., Clearpath Robotics Inc., Deep Ocean Engineering Inc., ECA Group, Elbit Systems Ltd., L3Harris Technologies Inc., Liquid Robotics Inc., Marakeb Technologies LLC, Maritime Robotics, Maritime Tactical Systems Inc., Ocean Aero, Oceanalpha Group Ltd., QinetiQ Ltd., Rafael Advanced Defense Systems Ltd., Rakuten Group Inc., Saildrone Inc., SeaRobotics Corp., Textron Inc., and thyssenkrupp AG.

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Key Market Trends Fueling Growth

Unmanned Surface Vehicles (USVs) are experiencing significant growth due to advancements in AI technology. The US Navy’s Task Force 59 has integrated AI into USVs, completing over 15,000 sailing hours in Bahrain and Jordan. Chinese company Beikun Intelligence’s 200-ton AI-operated USV has completed trials, with plans for collision avoidance tests.

USVs offer real-time sensing, autonomous sailing, and remote networking. iXblues’ DriX USV is designed for civilian markets, while OceanAlpha’s USVs use AI, cloud servers, and data communication for collision avoidance. China will deploy OceanAlpha’s electric-propelled USVs for goods transportation in the South China Sea. 

The Unmanned Surface Vehicle (USV) market is experiencing significant growth due to increasing demand for autonomous solutions in various industries. Capabilities such as secure communication, advanced sensors, and improved battery life are driving the trend. The use of USVs in applications like hydrographic surveys, oil and gas exploration, and military operations is on the rise.

Additionally, the integration of artificial intelligence and machine learning technologies is enhancing the functionality and efficiency of USVs. Companies are focusing on developing cost-effective and reliable USVs to cater to the growing demand. The market is expected to continue its upward trajectory in the coming years. 

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Market Challenges

•         Unmanned Surface Vehicles (USVs) face significant competition from various substitutes, hindering market expansion. Major alternatives include Remotely Operated Underwater Vehicles (ROVs) and Autonomous Underwater Vehicles (AUVs), widely used in underwater exploration and ocean mapping. ROVs are tethered to a nearby vessel, while AUVs operate independently but are costlier.

•         Another emerging threat is Unmanned Aerial Vehicles (UAVs), or drones, which offer cost savings and increased efficiency for external vessel inspections, tank inspections, bathymetric surveys, and offshore wind energy systems monitoring.

•         The Unmanned Surface Vehicle (USV) market faces several challenges. One key challenge is the complex nature of ocean conditions, which require advanced technology for navigation and operation. Another challenge is the need for reliable communication systems to ensure USVs can transmit data and receive instructions in real-time. Additionally, the cost of developing and maintaining USVs can be high, making it essential to find cost-effective solutions.

•         Furthermore, ensuring USVs comply with regulations and safety standards is a significant challenge. Lastly, integrating USVs with other systems, such as underwater vehicles and satellite technology, can be complex and requires extensive research and development.

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Segment Overview 

End-user 1.1 Defense1.2 CommercialType 2.1 Remotely operated2.2 AutonomousGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Defense-  Unmanned Surface Vehicles (USVs) are gaining significant traction in various industries due to their cost-effective and efficient operations. These vehicles offer solutions for tasks such as hydrographic surveys, oceanographic research, and military applications. Key players in the USV market include Boeing, Lockheed Martin, and Rolls-Royce. Collaborations and partnerships are driving innovation and growth in the sector. For instance, Rolls-Royce and L3Harris Technologies announced a collaboration to develop autonomous USVs for the U.S. Navy. The market is expected to continue expanding, driven by increasing demand for automation and remote operations.

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Research Analysis

The Unmanned Surface Vehicle (USV) market encompasses the development, production, and deployment of solar-powered vessels equipped with advanced technologies for various applications. These applications include water quality monitoring, climatic conditions assessment, and ocean data mapping. USVs are also utilized in scientific research, such as pollution studies and maritime security threats detection. Real-time monitoring systems, pre-programmed with collision detection technologies, ensure safe and efficient fleet management.

Fishery products inspection and disaster management services are further enhanced by USVs. Technological complexities, such as lithium-ion batteries and solar energy integration, are addressed to ensure long-lasting and eco-friendly operations. USVs are remotely operated and come in various forms, including ground robots, aerial robots, underwater robots, and surface vehicles. Sensors like seismometers and pressure sensors are integrated to gather comprehensive data. USVs play a crucial role in mitigating risks associated with marine disasters, such as those reminiscent of the Chernobyl disaster, by providing early warning systems and response capabilities.

The Unmanned Surface Vehicle (USV) market represents the design, development, production, and deployment of autonomous boats and ships for various applications. These vehicles are equipped with advanced technologies such as GPS navigation, sensors, and communication systems, enabling them to operate without human intervention. USVs are used for tasks including hydrographic surveys, oil and gas exploration, military operations, and research.

The market is driven by factors such as increasing demand for efficient and cost-effective solutions, technological advancements, and growing applications in diverse industries. Additionally, governments and organizations continue to invest in USV research and development to expand their capabilities and capabilities. The USV market is expected to grow significantly in the coming years due to these factors and the increasing adoption of automation in marine industries.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userDefenseCommercialTypeRemotely OperatedAutonomousGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio