Introduction to Product
Unmanned surface vehicles (USVs) are the vehicles that are operated remotely on or below the water surface without any human interface and entanglement. USVs are being highly adopted for use in several end use applications. These vehicles are known to be more valuable in oceanology on account oftheir enhanced flexible features and characteristics and low cost than the weather ships and other research vessels. Their primary mission involves non-lethal assignments, such as intelligence, surveillance, and reconnaissance (ISR), and mine countermeasures (MCM). Small vehicles, such as small USVs and gliders are better suited to single type missions such as surveys and ISR missions. Theyare extensively used for a wide range of military and commercial operations.
Market Size and Forecast
The military unmanned surface vehicles(USVs) is thriving on the back of the increasing research in oceanography and hydrography field, which is raising the need amongst the researchers to deploy USVs. Oceanography deals with the study of the physical and biological aspects of the ocean. The growing need amongst the researchers for monitoring water quality and further analyze anti-submarine warfare is anticipated to play an important role inthe deployment of military unmanned surface vehicles. On the other hand, the evolution, and advancements in the USVs technology are resulting in the increasing applications of USVs in various operations, which is expected to drive the military unmanned surface vehicle market in the coming years.
The military unmanned surface vehicle market is anticipated to record a significant CAGR over the forecast period i.e. 2020-2028. The market is segmented by type, system, and application. Among these segments, the application segment is further segmented into defense and commercial, out of whichthe defense segment is anticipated to hold the largest share owing to the increasing importance from navies across the world, backed by the need to perform several underlying purposes with the help of the USVs, including surveillance, reconnaissance, mine countermeasures, and anti-submarine activities among others.Moreover, the increasing expenditure by the government of nations worldwide for purchasing military equipment is also anticipated to drive the growth of the segment during the forecast period. According to The World Bank, military expenditure around the world increased from USD 1.631 trillion in the year 2016 to USD 1.782 trillion in the year 2018. CLICK TO DOWNLOAD SAMPLE REPORT
Increasing Research in the Sectors of Oceanography And Hydrography
Researchers in the sectors of oceanography and hydrography are increasingly monitoring conditions for further knowledge on the subject. Backed by the increasing support from several governmental institutions and increasing funding for research in the sector, researchers are planning to deploy advanced equipment, such as unmanned surface vehicles, that can help them in the process of their research. For instance, the Nippon Foundation recently announced a campaign called Seabed 2030, which aims to create a General Bathymetric Chart of the Oceans (GEBCO). Similarly, several other firms are increasingly deploying autonomous vessels to aid them in their research. Such a factor is anticipated to drive the growth of the global military unmanned surface vehicle market.
Augmentation Of The Capabilities in the Military Sector
Many countries are striving in enhancing their military capabilities, and upgrading to highly advanced, reliable, and trustable unmanned surface vehicles for area detection and modern warfare. Backed by the increasing expenditure of the government of nations on military equipment and the need for advanced equipment in the military, such factors are anticipated to drive the growth of the global military unmanned surface vehicle market in the coming years.
Existence of Alternatives
Availability of low cost unmanned underwater vehicle (UUV) and remotely operated vehicles are expected to restrain the growth of military unmanned surface vehicles over the forecast period.
High Installation and Maintenance Cost
High installation and maintenance costs associate with unmanned surface vehicles are predicted to hamper the growth of the market. USVs require continuous maintenance and repair after a certain interval which makes them expensive and negatively impacts the USVs market.
Our in-depth analysis of the military unmanned surface vehicle market includes the following segments:
Based on regions, the military unmanned surface vehicle market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
North-America is expected to hold the leading shares in the military unmanned surface vehicle market over the forecast period owing to an increase in investments in the naval sector by the government entities to maintain the safety and security across the waters, mammoth budget, and higher extensive research of oceanography and hydrography.The market in Europe is predicted to hold the second-largest share in the market on account of rising technological advancements in the region.
The military unmanned surface vehicle market is further classified based on region as follows:
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