Latest News- Unmanned Surface Vehicle Market: Defense is expected to lead the End-user segment during 2024-2028

The Unmanned Surface Vehicle Market is being driven by Increased research and investment in USVs

The Unmanned Surface Vehicle Market is expected to grow at a CAGR of 14.19% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2310.9 million. The Unmanned Surface Vehicle (USV) market is witnessing significant growth due to advancements in artificial intelligence (AI) technology. Companies are investing heavily in research and development to integrate AI into USVs for enhanced operational capabilities. For instance, the U.S. Navy's Fifth Fleet established Task Force 59 in Bahrain in September 2021 to explore the integration of AI into unmanned systems. By June 2022, Task Force 59 had amassed over 15,000 sailing hours of USVs in Bahrain and Aqaba, Jordan, and participated in six bilateral and multilateral exercises in the Middle East. This demonstrates the increasing importance of AI in the operation of USVs and the potential for significant market growth in this area. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Defense
  • Commercial
• Type
  • Remotely operated
  • Autonomous
• Geography
  • North America
    • US
  • APAC
    • China
    • Japan
  • Europe
    • Norway
    • UK
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increased research and investment in USVs
• Increased applicability of USVs
• Advancement in computing and communications

However, the market also witnesses some limitations, which are as follows:

• High number of substitute products
• Lack of adequate training
• High cost of R and D

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Market Scope in Unmanned Surface Vehicle Market Research Report

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Research Analysis Overview

Unmanned Surface Vehicles (USVs) are marine vehicles that operate on the surface of the water without human intervention. These vehicles come in various forms, including surface vessels, underwater robots, and aerial robots, each with unique applications. USVs are equipped with advanced technologies such as collision detection systems, pressure sensors, and seismometers, making them ideal for disaster management and scientific research. The Chernobyl disaster is a prime example of how USVs have been used in disaster management. Pre-programmed and remotely operated, these vessels can access areas that are dangerous for humans, providing valuable data and aiding in clean-up efforts. Technological complexities, such as climatic conditions, present challenges in the USV market. However, advancements in solar energy and lithium-ion batteries are addressing these challenges, enabling longer operational periods and reducing the need for frequent refueling. USVs have various applications, including fishery products inspection, real-time monitoring of water quality and pollution, and maritime security threats detection. They are also used for ocean data mapping and scientific research, providing valuable information on seismic activities and other ocean phenomena. Collision detection technologies are essential in the USV market, ensuring the safety of these vehicles and preventing potential damage to underwater infrastructure. With the increasing use of USVs in various industries, the market is expected to grow significantly in the coming years.

Market Research Overview

The global aerospace and defense industry encompasses manufacturers and providers in the production of aerial and naval platforms, defense electronics, arms and ammunition, defense logistics equipment, and space technology. This sector includes commercial and general aviation, as well as defense applications across naval, land, and air domains. Additionally, maintenance, repair, and overhaul (MRO) activities are integral to this market. According to Technavio, the global capital goods market size is determined by the collective revenue generated by industry leaders in sectors such as aerospace and defense, building and construction, electrical equipment, industrial conglomerates, machinery, trading companies, and distributors. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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