Unmanned Surface Vehicle (USV) Market Size, Share, Industry, Forecast and outlook (2024-2031)

Unmanned Surface Vehicle (USV) Market is segmented By Size (Small < 3 meters, Medium 3-7 meters, Large 7-14 meters, Extra Large > 14 meters), By Application (Defense, Commercial), By System (Propulsion, Component, Communication, Software, Chassis Material, Others), By Endurance (< 100 hrs*, 100-500 hrs, 500-1000 hrs, > 1000 hrs), By Hull Type (Single, Twin, Triple, Rigid Inflatable), By Modes of Operation (Autonomous Surface Vehicle, Remotely Operated Surface Vehicle), By Region (North America, South America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Report Overview

Unmanned Surface Vehicle (USV) Market is expected to grow at a CAGR of 13.9% during the forecast period 2024-2031

An Unmanned Surface Vehicle (USV) is a self-propelled, unmanned watercraft that operates on the surface of lakes, rivers and oceans. USVs are equipped with sensors, cameras, communication systems and navigation equipment and can be programmed to perform various tasks without human intervention. They are used in environmental monitoring, data collection, search and rescue operations and military and security operations.

Market Summary

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Market Dynamics

Increased demand for maritime surveillance

The increased demand for maritime surveillance is a significant driver of the global unmanned surface vehicle (USV) market. The maritime industry's growth and increased shipping activities have increased the need for better security in coastal and border regions. USVs with advanced sensors, cameras, communication systems and navigation equipment are in high demand for monitoring and surveillance. USVs can operate in hazardous environments and perform tasks without risking human lives, making them an attractive option for maritime surveillance. They can be programmed to patrol specific areas, monitor shipping traffic, detect potential security threats and provide real-time data and images to decision-makers.

The ability of USVs to gather and transmit real-time data helps authorities take timely and informed decisions, thereby increasing their popularity for maritime surveillance purposes. Therefore, the increased demand for maritime surveillance is driving the growth of the global USV market as USVs offer a cost-effective, efficient and safe solution for monitoring and surveillance in the maritime industry.

Higher costs and regulatory barriers associated with unmanned surface vehicles

The higher cost and regulatory barriers associated with unmanned surface vehicles (USVs) are significant factors that hamper the growth of the global USV market. USVs can be expensive to produce and maintain, particularly those equipped with advanced technologies, limiting their adoption and restricting the market growth.

Additionally, there are currently limited regulations regarding USVs, which can limit their commercial deployment and growth in the market. This lack of clear regulations makes it difficult for companies to invest in USVs and ensure that they operate within the law. Furthermore, the higher cost and regulatory barriers associated with USVs are significant factors that are hampering the growth of the global USV market. Governments and industry stakeholders need to address these barriers to unlock the full potential of USVs and support the market's growth and development to develop new, more effective products to meet growing demand.

Market Segment Analysis

The global unmanned surface vehicle (USV) market is segmented based on size, application, system, endurance, hull type, modes of operation and region.

Due to their ability to perform a wide range of tasks, including surveillance, data collection and inspection, remotely operated surface vehicle captures the majority of market shares

Remotely operated surface vehicles (ROSV) are USVs that are remotely controlled and operated from a distance, typically from a shore-based control center or a mothership. ROSVs are popular due to their ability to perform various tasks, including surveillance, data collection and inspection, without risking human lives. They are equipped with advanced sensors, cameras, communication systems and navigation equipment, which enables them to gather and transmit data in real-time. ROSVs are ideal for use in hazardous environments, such as offshore oil rigs. Therefore, ROSVs are a dominant mode of operation in the global USV market due to their versatility, safety and ability to perform various tasks. Their popularity is expected to grow as the demand for USVs for monitoring, surveillance and data collection increases.

Market Geographical Share

Owing to the strong presence of key players, a favorable investment environment and high demand for USVs drive the North American unmanned surface vehicle market growth

North America dominates the global unmanned surface vehicle (USV) market due to many factors, including a strong presence of key regional players, a favorable investment environment and a high demand for USVs. In North America, U.S. is a major player in USV market due to its large defense budget and the presence of several leading defense contractors. U.S. military and government agencies are significant customers for USVs and the country has a strong track record of investment in unmanned systems and technology.

Additionally, a favorable investment environment in North America, including tax incentives, grants and subsidies, has encouraged the development and growth of USV market in the region. North America has a high demand for USVs for various applications, including surveillance, data collection, inspection and environmental monitoring. A growing need for monitoring and surveillance in maritime security, oil and gas and coastal surveillance drives the increasing demand for USVs in North America. Therefore, North America dominates the global USV market due to many factors, including a strong presence of key players, a favorable investment environment and a high demand for USVs.

Unmanned Surface Vehicle Market Companies

The major global players include L3Harris Technologies, Textron Inc., Rafael Advanced Defense Systems Ltd., ECA Group, Teledyne Technologies, Elbit Systems, Searobotics, SAAB AB, 5G International and Liquid Robotics.

Key Developments

• In January 2023, Turkish companies Havelsan and Yonca Onuk developed Turkiye's SANCAR AUSV. It offers network-centric operations a capability boost. Operations oriented around networks are compatible with SANCAR's autonomous unmanned surface vessel (AUSV). The ship was put into operation in June 2022 and the first stage of its sea trials was finished in September 2022.
• On August 1, 2022, For Rim of the Pacific Exercise (RIMPAC 2022), the largest international maritime warfare exercise ever, L3Harris Technology showed how unmanned surface vehicle technologies might provide essential support for conventional marine forces. The demonstration took place off the shore of Pearl Harbor, Hawaii, from June 29 to August 4, 2022. Nomad, a medium-displacement unmanned surface vehicle operated by the Navy, is equipped with various autonomous L3Harris technologies that allow it to perform strategic missions safely and precisely without needing onboard support personnel. L3Harris control, electro-optical and communication systems are used in the technology.
• In April 2019, A new Unmanned Surface Vehicle (USV), the Sounder, a flexible solution designed and constructed for high-accuracy data-collecting applications, was unveiled by Kongsberg Maritime. KONGSBERG has expanded its presence in the booming demand for unmanned vessels capable of performing various duties with the launch of the Sounder USV System. The new USV makes the best use of innovative technology derived from a substantial body of information, giving it the flexibility to function in various settings.

The global unmanned surface vehicle (USV) market report would provide approximately 85 tables, 91 figures and 235 Pages.