Unmanned Surface Vehicles Market worth $1.2 billion by 2027- Exclusive Report by MarketsandMarkets™

Date:

CHICAGO, March 7, 2023 /PRNewswire/ — The Unmanned surface vehicles market is estimated to be USD 0.7 billion in 2022 and is projected to reach USD 1.2 billion by 2027, at a CAGR of 11.1% from 2022 to 2027 according to a new report by MarketsandMarkets™. Growth of this market can be attributed to the rise in trade of Unmanned surface vehicles, developments in the military sector, and unmanned commercial sector.

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Need for ocean data and mapping

USVs are equipped with sensors and payloads and, hence, are useful for ocean research and seabed mapping. They are used to measure water temperature, salinity, pH values, and currents, as well as to help understand the dynamics of the ocean. Such data is also required to create a detailed map for navigation and mineral extraction. Although these activities are also performed by USVs (unmanned surface vehicles), they have high production costs.

Mapping is the process by which a USV creates and maintains a map of its surroundings, which is especially crucial for path planning when the navigation target is outside the sensor range. The point cloud signals produced by the bow and stern LiDARs are used in the USV’s mapping operation. Two sensor point clouds are combined to create a single composite point cloud centered on the USV’s base link. Any points that collide with the USV are removed from this point cloud. This point cloud is then analyzed and utilized as an input to a simultaneous localization and mapping (SLAM) algorithm. The map that results is kept and provided in real-time.

By USV type, market for Autonomous Surface Vehicles is Projected To Grow At Highest Cagr During Forecast Period

Autonomous surface vehicles (ASVs) do not require human operators; they are capable of self–driving if an operator does not step in. In these vehicles, missions are programmed by operators, but the execution of these missions is carried out by the vehicles without any human intervention. These ASVs have level 4 autonomy. Autonomous surface vehicles have exhibited huge potential in surface operations. These programmable autonomous robots are utilized for survey missions that include detecting and mapping submerged wrecks, rocks, and obstructions.

By Size, Segment for Large USVs (7–14 meters) is Projected To Grow At Highest Cagr During Forecast Period

USVs with a 7–14-meter length are considered large. These USVs are majorly used for mine countermeasure missions, anti-submarine warfare, and maritime shields. They can also be used for cargo supply and military operations. Large payload capacity, longer endurance, and better safety prospects and performance drive the demand for large-sized USVs. 

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North America region accounts for largest market share in Unmanned surface vehicles market

Over the last decade, USVs have been increasingly used in defense applications, such as reconnaissance and surveillance, in the North American region. The demand for fully autonomous and intelligent USVs is also increasing for scientific and commercial applications. The US and Canada are key countries for market analysis in the North American region.

The US is estimated to account for the major share (84.4%) of the unmanned surface vehicle market in North America in 2022. Major manufacturers of USVs, such as Teledyne Technologies, Textron, and SeaRobotics, have their business units in the US. These companies are focused on entering agreements and expanding their reach in the unmanned surface vehicle market.

Major players in the Unmanned surface vehicles market include L3Harris Technologies (US), Fugro (Netherlands), Textron Inc. (US), ECA Group (France), Thales Group (France), Teledyne Technologies (US), and Kongsberg Maritime (Norway). Other key players in the market are Saab AB (Sweden), Atlas Elektronik (Germany), QinetiQ (UK), Liquid Robotics (US) and Ocius Technologies (Australia). The report covers various industry trends and new technological innovations in the Unmanned surface vehicles market for the period, 2018-2027.

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Browse Adjacent Market: Aerospace and Defence Market Research Reports &Consulting

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