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Global Unmanned Surface Vehicle (USV) Market Size, Industry Share, Growth & Forecast To 2025

05-05-2020 09:08 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Orion Market Research

The global unmanned surface vehicle (USV) market is estimated to grow at a CAGR of nearly 14.0% during the forecast period. A significant rise in defense contracts for the development of unmanned surface vehicles is offering an opportunity for the growth of the market. The Navy has an increasing interest in USVs for maritime operations. This allows to carry out a comprehensive range of tasks, including intelligence surveillance and reconnaissance (ISR)), mine countermeasures (MCM), and anti-submarine warfare (ASW). The rising shift from manned vehicles to unmanned vehicles has been primarily contributing to the development of USVs for naval operations.

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In February 2020, the US Navy selected 40 companies to develop USVs which will share contracts amounting to $982.1 million to support the USV family of systems. The contract is for five years and comprises three one-year options. All 40 companies will get $1,000 up-front, and in the next five to eight years will compete for individual delivery orders for USV propulsion systems, sensor and sensor-processing payloads, integrated unmanned surface vessels, and other phases of advanced USV design. These contractors will focus on vehicle autonomy and navigation, sensors and sensor processing, logistics and sustainment, and ashore and host platform elements. The companies selected to participate in the next-generation unmanned surface vehicle project include BAE Systems, Advanced Acoustic Concepts LLC, Continental Tide Defense Systems Inc., Gibbs & Cox, Inc., L3Harris Technologies and Lockheed Martin Corp.

A Full Report of Global Unmanned Surface Vehicle (USV) Market is Available at: https://www.omrglobal.com/industry-reports/unmanned-surface-vehicle-usv-market

In January 2018, Leonardo was awarded the most important project, OCEAN2020, which is associated with the first European Defence Fund's initiative. The project aims to encourage defence capabilities of Europe. This will stimulate technological research of Europe in the naval domain by the incorporation of unmanned platforms in interdiction and surveillance missions. OCEAN2020 project will see unmanned platforms of several kinds (surface, fixed-wing, underwater, rotary wing) combined with command and control centres of naval units'. This will support naval operations for data exchange through satellite, with command and control centres on land. The combined and cooperative application of both manned and unmanned vehicles are shown in the project.

Italian Navy continue to make contributions to OCEAN2020 project, including making available naval assets and helicopters and the development of operational scenarios. The project will comprise two live demonstrations of maritime interdiction and surveillance operations, performed by European fleets with the use of unmanned surface vessels, aircraft, and underwater systems. The Navy considers USVs as a cost-effective, high-endurance, and reconfigurable ships with sufficient capacity to carry several modular payloads. This shift towards USVs is offering an opportunity for increasing application of these vehicles in defense sector, which in turn, will contribute to the growth of the global USV market.

Global USV Market- Segmentation

By Application

Defense
Commercial

By Size

Small
Medium
Large

Global USV Market- Segment by Region

North America

United States
Canada

Europe

Germany
United Kingdom
France
Spain
Italy
Rest of Europe

Asia-Pacific

China
Japan
India
Rest of Asia-Pacific

Rest of the World

Latin America
Middle East and Africa

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/unmanned-surface-vehicle-usv-market

Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: [email protected]
Contact no: +1 646-755-7667, +91 780-304-0404

About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

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