The global unmanned surface vehicle (USV) market is estimated to grow at a CAGR of nearly 14.0% during the forecast period. Some key factors encouraging the market growth include rising defense contracts for unmanned surface vehicles, significant rise the demand for maritime security, and increasing investment in the oil and gas industry. As more than 80% of the global trade is conducted by sea, there is a significant chance of maritime crime. Therefore, the government is extensively focusing on maritime security to strengthen global peace, governance, and security, and promote global prosperity. In UK, Foreign & Commonwealth Office (FCO) aims to reinforce maritime security program which is invested by Official Development Assistance (ODA) and non-ODA funds.
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A secure and stable maritime domain is crucial for the global economy. Maritime security relies on global co-operation to enforce and set proper standards of action and shared norms, consistent with international law. Maritime crime poses a severe threat to regional stability, international trade, and safety of seafarers. For the financial year 2019 to 2020, ODA offered nearly $1,218,724 to strengthen maritime security programme. In the US, $214 million budget is requested for the Maritime Security Program (MSP) in 2019. This, in turn, leads the demand for unmanned surface vehicles to protect the maritime operations.
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Global Unmanned Surface Vehicle (USV) Market Segmentation
By Application
Defense
Commercial
By Size
Small
Medium
Large
Regional Analysis
North America
United States
Canada
Europe
UK
Germany
Italy
Spain
France
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Rest of the World
Company Profiles
5G International Inc.
Austal Ltd.
BAE Systems plc
Clearpath Robotics Inc.
Deep Ocean Engineering, Inc.
ECA Group (Groupe Gorgé Co.)
Elbit Systems Ltd.
Gibbs & Cox, Inc.
L3Harris Technologies, Inc.
Liquid Robotics, Inc. (Boeing Co.)
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