Unmanned Surface Vehicle Market Size Worth USD 3.38 Billion in 2032 | Emergen Research

Increasing number of military and defense applications of USVs and rapid technological advancements in USV are key factors driving market revenue growth

Vancouver, Jan. 23, 2024 (GLOBE NEWSWIRE) — The global Unmanned Surface Vehicle (USV) market size was USD 2.1 Billion in 2022 and is expected to register a rapid revenue CAGR of 5.0% during the forecast period. Increasing number of military and defense applications of USVs and rapid technological advancements in USV are key factors driving market revenue growth.

USVs are automobiles employed for performing a number of tasks, such as surveillance, data collection, tracking without the need for human intervention. These vehicles are extensively used in military applications to perform tasks in high-risk environments, reducing the exposure of human personnel to potential threats. These vehicles are able to operate in dangerous zones, such as minefields or areas with hostile forces, without putting human lives at risk. In addition, USVs equipped with advanced sensors and surveillance technology are valuable for conducting reconnaissance missions.

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Advancements in navigation technologies as well as USV control systems have significantly improved the operability and autonomy of vehicles. Operators are able to control modern USVs remotely from the surface or nearby vessels, while some of these operate autonomously. This level of autonomy is made possible by advancements in software, sensors, and communication systems. Moreover, development of specialized autonomy platforms, such as Typhoon, ASView, MOOS, and others, designed specifically for USV operations has contributed to the widespread adoption of unmanned vehicles.

The intricacies of decision-making algorithms, integration with sensor data, and ensuring compliance with international regulations add to the complexity. In addition, USVs must navigate through diverse and dynamic maritime environments, which poses technological challenges for collision avoidance. The need for real-time analysis of complex and ambiguous situations requires advanced technologies such as DRL. Moreover, developing and deploying such technologies may face technical hurdles, including the need for robust algorithms, reliable sensors, and effective integration with the USV’s control systems.

A recent trend in the USV industry is the rising integration of Artificial Intelligence (AI) and autonomous technologies. USV manufacturers are leveraging advanced AI algorithms for improved navigation, obstacle detection, and mission execution. This has enhanced the overall autonomy of USVs, enabling to operate efficiently in diverse environments. The use of AI has significantly improved decision-making capabilities, real-time data analysis, and adaptive responses to changing conditions. This technological evolution aligns with rising demand for smart and autonomous solutions in defense, commercial, and scientific applications.

Segment Insights

Application Insights:

On the basis of application, the global USV market is segmented into defense and commercial. The commercial segment accounted for largest revenue share in the global USSSV market in 2022 due to USVs diverse range of applications. USVs are increasingly being used for an array of commercial purposes, including oceanography, environmental monitoring, and cargo transport among others. The versatility of USVs makes these attractive for various commercial applications. In addition, technological advancements enhance the capabilities of USVs, rising their adoption for commercial use and driving revenue growth of this segment.

The defense segment is expected to register moderately fast revenue growth rate in the global USV market during the forecast period. This is because USVs are extensively used in military applications, including strike operations, powered seaborne targets, surveillance, mine hunting, reconnaissance, and area denial or sea denial. These vehicles play a crucial role in modern naval operations, providing the military with advanced capabilities for various missions.

Type Insights:

On the basis of end-use, the global USV market is segmented into surface and subsurface. The subsurface segment is expected to account for significantly large revenue share in the global USV market during the forecast period due to the increasing use of advanced vehicles and technologies for underwater exploration. Unmanned Underwater Vehicles (UUVs) or Autonomous Underwater Vehicles (AUVs) are designed for underwater exploration.

The surface segment is expected to register steadily fast revenue growth rate in the global USV market during the forecast period. This is because USVs for surface-level use are highly favored due to the versatility and range of applications that these perform on surface level, such as environmental monitoring, cargo transport, and military operations, among others. The versatility of surface vehicles makes these applicable across a wide range of industries.

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Regional Insights:

The North America market accounted for largest revenue share in the global USV market the forecast period due to increasing presence of established companies and emerging startups focused on USV development. Also, numerous businesses are attempting to secure contracts from the defense sector for autonomous marine vehicles. For instance, in August 2022, Leidos announced that the company has been selected for a cost-plus-fixed-fee contract of approximately USD 358 million by the U.S. Naval Sea Systems Command (NAVSEA) for designing and manufacturing a medium-sized unmanned undersea vehicle.

The Asia Pacific market is expected to account for considerably large revenue share in the global USV market during the forecast period due to increasing number of companies in the region adopting USVs for commercial applications. In addition, rising prevalence of automation and robotics across various end-use industries in Asia Pacific is another factor driving market revenue growth of this region. The presence of high-economy countries that are focusing their investments on defense and military technologies are causing USV manufacturers in the region to undertake various strategic initiatives. For instance, on 30 November 2023, Unique Group, which is a leading developer of USVs with operations in the Asia Pacific region announced that will enhance its USV portfolio.

Scope of Research

Report Details Outcome
Market Size in 2022 USD 2.1 Billion
CAGR (2023–2032) 5.0 %
Revenue Forecast To 2032 USD 3.38 Billion
Base Year For Estimation 2022
Historical Data 2019-2021
Forecast Period 2023–2032
Quantitative Units Revenue in USD Billion and CAGR in % from 2023 to 2032
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered Application, type, mode of operation, size, endurance, hull type, and region
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country Scope U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies Profiled L3Harris Technologies, Teledyne Marine, Atlas Elektronik, Liquid Robotics, ASV Global, Ocean Aero, Elbit Systems, Textron Systems, ECA Group, Maritime Robotics, Clearpath Robotics, SeaRobotics Corporation, Boston Engineering Corporation, Deep Ocean Engineering, 5G International Inc., Yanmar Company Limited, International Submarine Engineering (ISE), Autonomous Surface Vehicles Ltd (ASV Ltd), Kongsberg Maritime, and Maritime Tactical Systems
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Major Companies and Competitive Landscape

The global USV market is moderately fragmented, with many large and medium-sized players accounting for majority of market revenue. Major businesses are using a variety of tactics, making mergers and acquisitions, strategic agreements, and contracts, as well as creating, experimenting with, and introducing more efficient USV solutions in the market.

Some major players included in the global USV market report are:

  • L3Harris Technologies
  • Teledyne Marine
  • Atlas Elektronik
  • Liquid Robotics
  • ASV Global
  • Ocean Aero
  • Elbit Systems
  • Textron Systems
  • ECA Group
  • Maritime Robotics
  • Clearpath Robotics
  • SeaRobotics Corporation
  • Boston Engineering Corporation
  • Deep Ocean Engineering
  • 5G International Inc.
  • Yanmar Company Limited
  • International Submarine Engineering (ISE)
  • Autonomous Surface Vehicles Ltd (ASV Ltd)
  • Kongsberg Maritime
  • Maritime Tactical Systems

Strategic Development

  • In August 2022, Austal USA announced a partnership with California-based Saildrone to build the autonomous ’uncrewed‘ surface vehicle Saildrone Surveyor in Alabama. Goal of this partnership is to offer the U.S. Navy and other government agency customers a state-of-the-art solution for missions requiring persistent wide area coverage, such as hydrographic survey and maritime domain awareness.
  • In November 2021, In addition to expanding the Bowtech underwater camera, light, and underwater strobe range’s distribution in Europe, the U.S., and Asia Pacific, Teledyne Marine and Seatronics’ partnership enhanced the company’s post-purchase support network worldwide through the use of regional service centers located in the U.S., Singapore, and the UK.

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 For the purpose of this report, Emergen Research has segmented the USV market on the basis of type, application, deployment, enterprise size, component, vertical and region:

  • Application Outlook (Revenue, USD Billion; 2019-2032)
    • Defense:
      • Surveillance
      • Mine Countermeasures (MCM)
      • Anti-Submarine Warfare (ASW)
      • Electronic Warfare (EW)
      • Others (border patrol, intelligence, reconnaissance)
    • Commercial:
      • Oil & Gas Exploration
      • Environmental Monitoring
      • Oceanographic Research
      • Fishery Management
      • Search and Rescue
      • Others (shipping, port security)
  • Type Outlook (Revenue, USD Billion; 2019-2032)
    • Surface:
      • Unmanned Surface Vehicle (USV)
      • Autonomous Surface Vehicle (ASV)
    • Subsurface:
      • Autonomous Underwater Vehicle (AUV)
      • Remotely Operated Vehicle (ROV)
  • Mode of Operation Outlook (Revenue, USD Billion; 2019-2032)
    • Semi-Autonomous
    • Fully Autonomous
  • Size Outlook (Revenue, USD Billion; 2019-2032)
    • Small USVs
    • Medium USVs
    • Large USVs
  • Endurance (Revenue, USD Billion; 2019-2032)
    • Short (Up to 100 Hours)
    • Medium (100 – 500 Hours)
    • Long (500 – 1000 Hours)
    • Extra-Long (Above 1000 Hours)
  • Hull Type (Revenue, USD Billion; 2019-2032)
    • Kayak (Single Hull)
    • Catamaran (Twin Hull)
    • Trimaran (Triple Hull)
    • Rigid Inflatable Hull
  • Regional Outlook (Revenue, USD Billion; 2019–2032)
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • UK
      • Italy
      • Spain
      • Benelux
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Rest of APAC
    • Latin America
      • Brazil
      • Rest of LATAM
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Turkey
      • Rest of Middle East & Africa

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