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Global Unmanned Surface Vehicle (USV) Market is Projected to Grow at a CAGR of 9.85% By 2031: Visiongain Research Inc
Visiongain has published a new report entitled the Unmanned Surface Vehicle (USV) Market 2021-2031. It includes profiles of Unmanned Surface Vehicle (USV) and Forecasts Market Segment by Operation (Remotely Operated Surface Vehicle, Autonomous Surface Vehicle) Market Segment by System (USV Propulsion System, USV Communication System, USV Payload System, USV Chassis Material, USV Component, USV Software) Market Segment by Hull Operation (Kayak (Single Hull), Catamaran (Twin Hulls), Trimaran (Triple Hulls), Rigid Inflatable Hull, Other Hull Operation) Market Segment by Application (Inland & Offshore Survey, Environmental Monitoring, Security & Rescue, Cargo Shipping, Oceanographic Survey, Other Application) Market Segment by Endurance (<100 Hours, 100-500 Hours, 500-1000 Hours, >1000 Hours) PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country.
The global unmanned surface vehicle (USV) market was valued at US$520 million in 2020 and is projected to grow at a CAGR of 9.85% during the forecast period 2021-2031.
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The growing use of USVs in military applications such as border and littoral zone patrol, submarine hunting, minesweeping, ISR, offensive capabilities, and seaborne targets is projected to support the market's robust expansion. During the forecast period, the market is expected to benefit from the integration of artificial intelligence (AI) in unmanned naval vehicles to better combat operations for command-and-control applications. Furthermore, the expanding commercial applications of USVs in oceanography, exploration, and environmental sciences are likely to boost the market's growth in the near future. The growing demand for USVs in the oil and gas industry is projected to create profitable business possibilities for the market.
How has COVID-19 had a significant negative impact on the Unmanned Surface Vehicle (USV) Market?
In all industries worldwide, COVID affected supply chains. The military industry is often resilient to global commercial shocks, although cushion defense characteristics have faded in recent years. Although it is still too early to predict precisely whether the industry is flat, shrinking or growing unaffected by the global pandemic, it is very important that defense companies identify what the major impact points are and assess the potential of defense undertakings to influence business plans, supply chains and the underlying lines. This will help to form steps to prevent the storm from happening to companies. Supply side shocks may be one of the most obvious outcomes of the defense pandemic. The initial victims of this pandemic are companies which are based in nations that are hardly touched by the virus or are dependent on supply chains in the countries concerned.
The supplier chain and resource patterns of DTIB will also effect the production, since supply side limitations are more likely to be facing production waits with branching supply networks. The European DTIB has a fair number of branching supply chains with a final platform or solution of multiple components and subsystems from different suppliers. Regulation and repriorisation of the supply chain manufacturing tasks could have an effect on defense production. The probability of such activities cannot be ruled out, particularly when governments are distracting equipment for manufacturing medical devices such as fans.
How this Report Will Benefit you?
Visiongain’s 577+ page report provides 337 tables and 330 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global unmanned surface vehicle (USV) market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Unmanned Surface Vehicle (USV). Get the financial analysis of the overall market and different segments including type, media, application, gas type and capture higher market share. We believe that high opportunity remains in this fast-growing unmanned surface vehicle (USV) market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the current market drivers?
A Platform of Unmanned Surface Vehicle Swarms for Real Time Monitoring in Aquaculture Environments
Aquaculture is one of the fastest-growing food industries. Aquaculture accounted for 47 percent of global fish output, which peaked at over 171 million tons. Aquaculture has been responsible for the continued remarkable rise in the availability of fish for human consumption, despite rather stagnant capture fisheries production. an end-to-end mobile solution for real-time monitoring of aquaculture settings The entire system comprises data collecting equipment, which is comprised of a fleet of USVs outfitted with aquatic and environmental sensors.
The Shipping Industry Is Moving into A New Era with Unmanned and Autonomous Ships
The maritime sector is entering a new age with unmanned and autonomous ships, which will cut emissions while also reducing accidents caused by human mistake. However, others say that the individual, from those who design the system to those who monitor the ship, is still in the loop. As a result, the likelihood of additional undiscovered human mistakes is considerable. The shipmaster or operator will no longer be onboarding the ship, but will instead be stationed in one of eight Shore Control Centers (SCC). If there are any emergencies or unforeseen situations that the automation cannot manage, he must be ready to step in. When watching the ships in the SCC, it might be difficult for the operator to obtain excellent SA. Only visual and auditory cues are provided via monitors. If the captain is onboard, he will use all of his senses to learn about the sea and how the ship reacts to it and the weather. The operator risks losing SA unless a well-designed method to replace the sensory information is found.
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Where are the market opportunities?
The Supply of Ship Officers To The Shipping Industry Will Not Be Sufficient In Future Years
In the next years, the supply of ship officers will be insufficient for the maritime sector. the scarcity of ship officers would increase in the future years as a result of the increasing number of new structures coming on line and the unwillingness of young people to go to sea. The study found that the current moderate shortage of ship officers in the world merchant fleet will not be resolved unless training is increased or measures are taken to address the situation, and that the current global supply will likely not meet future demand for officers in the next five to ten years.
Enhance The Safety of Navigation and Resolve The Problem Of Human Errors In Maritime Accidents
Because of different navigational duties and paper work throughout the journey, the ship officer's responsibilities are growing. Schedules would be particularly tighter for coastal cruises. The navigating officers would be stressed by frequent port calls and lengthy hours of sailing in crowded coastal waters. Due to the insufficient number of navigating officers on board, these stressors may arise as a result of a severe workload, resulting in tiredness and exhaustion. The navigating officer is frequently left in charge of the bridge while also being required to react to circumstances that may not be appropriately seen or responded. Despite the fact that the STCW Convention places strict competency standards for navigating officers, things might go wrong when they are under continual stress
Competitive Landscape
The major players operating in the global USV market are Thales Group Aerospace, SeaRobotics Corp., Liquid Robotics Corporation, RAFAEL Advanced Defense Systems Ltd., L3Harris Technologies Inc., AeroVironment, Inc., Aurora Flight Sciences, Airbus Group SE, Boeing Aerospace, BAE Systems, Elbit Systems Ltd., Textron Inc., MARTAC | Maritime Tactical Systems, Inc., Atlas Elektronik, Teledyne Technologies Incorporated. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
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With our newly report title, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Visiongain's study is for everybody needing commercial analyses for the Defense USV Market and leading companies. You will find data, trends and predictions.
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About Visiongain
Visiongain is one of the fastest growing and most innovative, independent, market intelligence around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports cover a 10-year forecast, are hundreds of pages long, with in depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets, which currently can influence one another, these markets include automotive, aviation, chemicals, cyber, defense, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customized and syndicated market research reports means that you can have a bespoke piece of market intelligence customized to your very own business needs.
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