Unmanned Surface Vehicle Market Size to Grow by $ 1.15 bn During 2020-2024
Technavio has been monitoring the unmanned surface vehicle market and it is expected to grow by $ 1.15 bn, accelerating at a CAGR of almost 13% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report
Unmanned Surface Vehicle Market: North America to lead market growth during the forecast period
Unmanned Surface Vehicle Market: Key Competitors
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. AutoNaut Ltd., Clearpath Robotics Inc., Elbit Systems Ltd., L3Harris Technologies Inc., Marakeb Technologies LLC, Ocean Aero, QinetiQ Ltd., Rakuten Inc., SeaRobotics Corp., and thyssenkrupp AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Unmanned Surface Vehicle Market: Key Highlights of the Report for 2020-2024
Technavio has been monitoring the Global Unmanned Surface Vehicle Market and it is expected to grow by USD 1.15 billion progressing at a CAGR of over 13% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report
North America to Drive Market Growth
40% of the market’s growth will originate from North America during the forecast period with the US being the key market for unmanned surface vehicle market in North America. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the unmanned surface vehicle market market size. Factors such as increased research and investment on USVs, rising applicability of USVs, and advancements in computing and communications will offer immense growth opportunities. However, the the high cost of R&D may impede market growth.
The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment.
Unmanned Surface Vehicle Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. AutoNaut Ltd., Clearpath Robotics Inc., Elbit Systems Ltd., L3Harris Technologies Inc., Marakeb Technologies LLC, Ocean Aero, QinetiQ Ltd., Rakuten Inc., SeaRobotics Corp., and thyssenkrupp AGare some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report
Unmanned Surface Vehicle Market: Key Highlights of the Report for 2020-2024
