HOME Top Market Reports Unmanned Surface Vehicle (USV) Market by Application (Defense, Scientific Research, Commercial, Miscellaneous), Size (Small, Medium, Large, Extra Large), Propulsion System, Modes of Operation, Payload & Geography - Global Forecast to 2022

Unmanned Surface Vehicle (USV) Market by Application (Defense, Scientific Research, Commercial, Miscellaneous), Size (Small, Medium, Large, Extra Large), Propulsion System, Modes of Operation, Payload & Geography - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: May 2017
Report Code: AS 4110

 

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The unmanned surface vehicle (USV) market is projected to grow from USD 470.1 Million in 2017 to USD 938.5 Million by 2022, at a CAGR of 14.83% during the forecast period. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.

Objectives of the study:

The report analyses the unmanned surface vehicle market on the basis of size (small, medium, large, extra-large), application (commercial, defense, scientific research, and others), modes of operation (semi-autonomous, autonomous), propulsion system (electric system, mechanical system, hybrid, solar and others), payload (sensors, X-band radar, camera, visual system, SONAR, INS & others) and maps these segments and sub-segments across the major regions of the world, namely, North America, Europe, Asia-Pacific, the Middle East, and Rest of the world (RoW).

Research Methodology:

The market size estimations for the various segments and subsegments of this market were arrived at through extensive secondary research from sources (such as Department of Defense, AUVSI among others), corroboration with primaries, and further market triangulation with the help of statistical techniques using econometric tools. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data is consolidated and added with detailed inputs and analysis from MarketsandMarkets and presented in this report.

The breakdown of profiles of primaries is depicted in the figure given below:

Unmanned Surface Vehicle (USV) Market

To know about the assumptions considered for the study, download the pdf brochure

The ecosystem of the USV market comprises raw material suppliers, manufacturers, distributors, and end users. The key end users of the USV market are defense and navy sector, followed by scientific researcher and commercial sectors. Some of the key players of the unmanned surface vehicle market include Autonomous Surface Vehicle (ASV) limited, Textron Inc. (U.S.), ECA Group (France), Israel Aerospace Industries (Israel), and Elbit Systems (Israel) among others. These players are adopting strategies such as new product developments, long-term contracts, and business expansion to strengthen their positions in the market. They are also focusing on developing new products by investing considerable amounts of their revenues into R&D to introduce advanced USV’s with higher precision and reduced weight.

Furthermore, this study answers several questions for the stakeholders; primarily which segments to focus over the next five years for prioritizing efforts and investments.

Key Target Audience

  • USV  Manufacturers
  • USV Dealers
  • Sub-component Manufacturers
  • Technology Support Providers

Scope of the Report

This research report categorizes the unmanned surface vehicle market into the following segments and sub-segments:

Unmanned Surface Vehicle Market, By Size

  • Small
  • Medium
  • Large
  • Extra Large

Unmanned Surface Vehicle Market, By Application

  • Commercial
  • Defense
  • Scientific Research
  • Others

Unmanned Surface Vehicle Market, By Modes of operation

  • Semi-autonomous
  • Autonomous

Unmanned Surface Vehicle Market, By Propulsion system

  • Electric System
  • Mechanical System
  • Hybrid
  • Solar
  • Others

Unmanned Surface Vehicle Market, By Payload

  • Sensors
  • SONAR
  • INS
  • Camera
  • Visual Systems
  • X-band radars
  • Others

Unmanned Surface Vehicle Market, By Region

  • North America
  • Europe
  • Asia-Pacific
  • Middle East
  • Rest of the world

Customizations available for the report

Along with the market data, MarketsandMarkets offers customizations as per specific needs of a company. The following customization options are available for the report:

  • Company Information
    • Detailed analysis and profiling of additional market players (Upto 5)
    • Market numbers for USV market by craft type

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Distribution Channel Participants
    1.6 Limitations
    1.7 Market Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Research Flow
           2.1.2 Secondary Data
                    2.1.2.1 Key Data From Secondary Sources
           2.1.3 Primary Data
                    2.1.3.1 Key Data From Primary Sources
                    2.1.3.2 Key Industry Insights
                    2.1.3.3 Breakdown of Primaries
    2.2 Factor Analysis
           2.2.1 Introduction
           2.2.2 Demand-Side Indicators
                    2.2.2.1 Increasing Demand for USVs in Military Applications
                    2.2.2.2 Rising Demand in Oceanographic Applications
           2.2.3 Supply-Side Indicators
                    2.2.3.1 Reliability of Components
    2.3 Market-Size Estimation
           2.3.1 Bottom-Up Approach
           2.3.2 Top-Down Approach
    2.4 Market Breakdown & Data Triangulation
    2.5 Research Assumptions

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 35)
    4.1 Attractive Market Opportunities in the Unmanned Surface Vehicle Market
    4.2 Europe Unmanned Surface Vehicles Market, By Application
    4.3 Unmanned Surface Vehicle Market, By Size
    4.4 Unmanned Surface Vehicles Market, By Propulsion System
    4.5 Unmanned Surface Vehicles Market, Developed vs Developing Countries

5 Market Overview (Page No. - 38)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Application
           5.2.2 By Modes of Operation
           5.2.3 By Size
           5.2.4 By Propulsion System
           5.2.5 By Payload
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Increased Demand for USVs to Monitor Water Quality and Map Ocean Data
                    5.3.1.2 Asymmetric Threats & Maritime Security
           5.3.2 Restraints
                    5.3.2.1 Presence of Low-Cost Substitutes Like Auvs and Rovs
           5.3.3 Opportunities
                    5.3.3.1 Advancements in USV Design
                    5.3.3.2 Increasing Demand for Combat Operations
           5.3.4 Challenges
                    5.3.4.1 Unclear Navigation Rules and Need for Human Intervention
                    5.3.4.2 Development of Collision Avoidance System and Networking Challenges

6 Industry Trends (Page No. - 44)
    6.1 Introduction
    6.2 Value-Chain Analysis
    6.3 Supply-Chain Analysis
           6.3.1 Key Influencers
    6.4 Industry Trends
    6.5 Technology Trends
           6.5.1 USVs as Weapons of War
           6.5.2 Caracas Technology
           6.5.3 Data Dissemination
           6.5.4 Launch and Recovery Systems
           6.5.5 System to Refuel at Sea
           6.5.6 Collaborative Unmanned Systems
    6.6 Specification Mapping of Inland and Offshore USV
    6.7 3d Printing in Unmanned Surface Vehicle
    6.8 USV Capabilities in Comparison With Other Unmanned Vehicles
    6.9 Porter’s Five Forces Analysis
           6.9.1 Threat of New Entrants
           6.9.2 Threat of Substitutes
           6.9.3 Bargaining Power of Suppliers
           6.9.4 Bargaining Power of Buyers
           6.9.5 Intensity of Competitive Rivalry
    6.10 Innovation & Patent Registrations
    6.11 Key Trend Analysis

7 Unmanned Surface Vehicle Market, By Application (Page No. - 56)
    7.1 Introduction
    7.2 Defense
           7.2.1 ISR
           7.2.2 Mine Countermeasure
           7.2.3 Maritime Security
           7.2.4 Anti-Submarine
    7.3 Scientific Research
           7.3.1 Oceanographic & Hydrographic Studies
           7.3.2 Environmental Monitoring
           7.3.3 Seabed Mapping
    7.4 Commercial
           7.4.1 Ocean Data Collection
           7.4.2 Oil & Gas Exploration
    7.5 Miscellaneous
           7.5.1 Search & Rescue
           7.5.2 Marine Salvage & Debris Removal

8 Unmanned Surface Vehicle Market, By Size (Page No. - 62)
    8.1 Introduction
    8.2 Extra Large
    8.3 Medium
    8.4 Large
    8.5 Small

9 Unmanned Surface Vehicle Market, By Propulsion System (Page No. - 67)
    9.1 Introduction
    9.2 Mechanical Systems
    9.3 Hybrid
    9.4 Electric Systems
    9.5 Solar
    9.6 Other Propulsion System

10 Unmanned Surface Vehicle Market, By Modes of Operation (Page No. - 73)
     10.1 Introduction
     10.2 Semi-Autonomous
     10.3 Autonomous

11 Unmanned Surface Vehicle Market, By Payload (Page No. - 77)
     11.1 Introduction
     11.2 Sensors
     11.3 X-Band Marine Radar
     11.4 Cameras
     11.5 Inertial Navigation System
     11.6 Sonar
     11.7 Visual Systems
     11.8 Others

12 Regional Analysis (Page No. - 80)
     12.2 Introduction
     12.3 North America
             12.3.1 By Application
             12.3.2 By Size
             12.3.3 By Country
                        12.3.3.1 U.S.
                                     12.3.3.1.1 By Application
                                     12.3.3.1.2 By Size
                        12.3.3.2 Canada
                                     12.3.3.2.1 By Application
                                     12.3.3.2.2 By Size
     12.4 Europe
             12.4.1 By Application
             12.4.2 By Size
             12.4.3 By Country
                        12.4.3.1 Sweden
                                     12.4.3.1.1 By Application
                                     12.4.3.1.2 By Size
                        12.4.3.2 U.K.
                                     12.4.3.2.1 By Application
                                     12.4.3.2.2 By Size
                        12.4.3.3 Germany
                                     12.4.3.3.1 By Application
                                     12.4.3.3.2 By Size
                        12.4.3.4 France
                                     12.4.3.4.1 By Application
                                     12.4.3.4.2 By Size
                        12.4.3.5 Italy
                                     12.4.3.5.1 By Application
                                     12.4.3.5.2 By Size
     12.5 Asia-Pacific
             12.5.1 By Application
             12.5.2 By Size
             12.5.3 By Country
                        12.5.3.1 China
                                     12.5.3.1.1 By Application
                                     12.5.3.1.2 By Size
                        12.5.3.2 Japan
                                     12.5.3.2.1 By Application
                                     12.5.3.2.2 By Size
                        12.5.3.3 Singapore
                                     12.5.3.3.1 By Application
                                     12.5.3.3.2 By Size
                        12.5.3.4 India
                                     12.5.3.4.1 By Application
                                     12.5.3.4.2 By Size
     12.6 Middle East
             12.6.1 By Application
             12.6.2 By Size
             12.6.3 By Country
                        12.6.3.1 UAE
                                     12.6.3.1.1 By Application
                                     12.6.3.1.2 By Size
                        12.6.3.2 Israel
                                     12.6.3.2.1 By Application
                                     12.6.3.2.2 By Size
     12.7 Rest of the World
             12.7.1 By Application
             12.7.2 By Size
             12.7.3 By Country
                        12.7.3.1 Nigeria
                                     12.7.3.1.1 By Application
                                     12.7.3.1.2 By Size
                        12.7.3.2 Brazil
                                     12.7.3.2.1 By Application
                                     12.7.3.2.2 By Size

13 Competitive Landscape (Page No. - 106)
     13.1 Introduction
     13.2 Vendor Dive Overview
             13.2.1 Vanguards
             13.2.2 Innovators
             13.2.3 Dynamic
             13.2.4 Emerging
     13.3 Products and Capabilities
     13.4 Business Strategies

14 Company Profiles (Page No. - 110)
(Overview, Financials, Products & Services, Strategy, and Developments)*
     14.1 ASV Unmanned Marine Systems
     14.2 Teledyne Technologies, Inc.
     14.3 Textron, Inc.
     14.4 Atlas Elektronik GmbH.
     14.5 ECA Group
     14.6 Searobotics, Inc.
     14.7 Elbit Systems Ltd.
     14.8 Rafael Advanced Defense Systems
     14.9 5G International, Inc.
     14.10 Liquid Robotics

*Details on Overview, Financials, Product & Services, Strategy, and Developments Might Not Be Captured in Case of Unlisted Companies.

15 Appendix (Page No. - 134)
     15.1 Discussion Guide
     15.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.3 Introducing RT: Real-Time Market Intelligence
     15.4 Available Customizations
     15.5 Related Reports
     15.6 Author Details


List of Tables (72 Tables)

Table 1 Market Drivers: Regional Analysis
Table 2 Recent Industry Trends in USV Market
Table 3 Key Technology Trends in USV Market
Table 4 USV Market: Specification Mapping of Inland and Offshore USV
Table 5 USV Market: Innovation & Patent Registrations (2011-2016)
Table 6 USV Market: Key Trend Analysis, 2016
Table 7 Unmanned Surface Vehicles Market Size, By Application, 2015-2022 (USD Million)
Table 8 Defense Segment, By Type, 2015-2022 (USD Million)
Table 9 Scientific Research Segment, By Type, 2015-2022 (USD Million)
Table 10 Commercial Segment, By Type, 2015-2022 (USD Million)
Table 11 Miscellaneous Segment, By Type, 2015-2022 (USD Million)
Table 12 Unmanned Surface Vehicle Market, By Size, 2015-2022 (USD Million)
Table 13 Extra Large Segment, By Region, 2015-2022 (USD Million)
Table 14 Medium Segment, By Region, 2016-2022 (USD Million)
Table 15 Large Segment, By Region, 2016-2022 (USD Million)
Table 16 Small Segment, By Region, 2015-2022 (USD Million)
Table 17 Market Size, By Propulsion System, 2015-2022 (USD Million)
Table 18 Mechanical Systems Segment, By Region , 2015-2022 (USD Million)
Table 19 Hybrid Segment, By Region, 2015-2022 (USD Million)
Table 20 Electric Systems Segment, By Region, 2015-2022 (USD Million)
Table 21 Solar Segment, By Region, 2015-2022 (USD Million)
Table 22 Other Propulsion System Segment, By Region, 2015-2022 (USD Million)
Table 23 USV Market Size, By Modes of Operation, 2015-2022 (USD Million)
Table 24 Semi-Autonomous Segment, By Region, 2015-2022 (USD Million)
Table 25 Autonomous Segment, By Region, 2015-2022 (USD Million)
Table 26 Unmanned Surface Vehicle Market Size, By Payload, 2015–2022 (USD Million)
Table 27 Market Size, By Region, 2015-2022 (USD Million)
Table 28 North America Unmanned Surface Vehicle Market Size, By Application, 2015-2022 (USD Million)
Table 29 North America Market Size, By Size, 2015–2022 (USD Million)
Table 30 North America Market Size, By Country, 2015-2022 (USD Million)
Table 31 U.S. Unmanned Surface Vehicle Market Size, By Application, 2015-2022 (USD Million)
Table 32 U.S. Market Size, By Size, 2015-2022 (USD Million)
Table 33 Canada Unmanned Surface Vehicle Market Size, By Application, 2015-2022 (USD Million)
Table 34 Canada Market Size, By Size, 2015-2022 (USD Million)
Table 35 Europe Market Size, By Application, 2015-2022 (USD Million)
Table 36 Europe Market Size, By Size, 2015–2022 (USD Million)
Table 37 Europe Market Size, By Country, 2015-2022 (USD Million)
Table 38 Sweden Market Size, By Application, 2015-2022 (USD Million)
Table 39 Sweden Market Size, By Size, 2015-2022 (USD Million)
Table 40 U.K. Unmanned Surface Vehicle Market Size, By Application, 2015-2022 (USD Million)
Table 41 U.K. Market Size, By Size, 2015-2022 (USD Million)
Table 42 Germany Unmanned Surface Vehicle Market Size, By Application, 2015-2022 (USD Million)
Table 43 Germany Market Size, By Size, 2015-2022 (USD Million)
Table 44 France Market Size, By Application, 2015-2022 (USD Million)
Table 45 France Market Size, By Size, 2015-2022 (USD Million)
Table 46 Italy Unmanned Surface Vehicle Market Size, By Application, 2015-2022 (USD Million)
Table 47 Italy Market Size, By Size, 2015-2022 (USD Million)
Table 48 Asia-Pacific Unmanned Surface Vehicle Market Size, By Application, 2015-2022 (USD Million)
Table 49 Asia-Pacific Market Size, By Size, 2015-2022 (USD Million)
Table 50 Asia-Pacific Market Size, By Country, 2015-2022 (USD Million)
Table 51 China Market Size, By Application, 2015-2022 (USD Million)
Table 52 China Market Size, By Size, 2015-2022 (USD Million)
Table 53 Japan Unmanned Surface Vehicle Market Size, By Application, 2015-2022 (USD Million)
Table 54 Japan Market Size, By Size, 2015-2022 (USD Million)
Table 55 Singapore Unmanned Surface Vehicle Market Size, By Application, 2015-2022 (USD Million)
Table 56 Singapore Market Size, By Size, 2015-2022 (USD Million)
Table 57 India Unmanned Surface Vehicle Market Size, By Application, 2015-2022 (USD Million)
Table 58 India Market Size, By Size, 2015-2022 (USD Million)
Table 59 Middle East Market Size, By Application, 2015-2022 (USD Million)
Table 60 Middle East Market Size, By Size, 2015-2022 (USD Million)
Table 61 Middle East Market Size, By Country, 2015-2022 (USD Million)
Table 62 UAE Unmanned Surface Vehicle Market Size, By Application, 2015-2022 (USD Million)
Table 63 UAE Market Size, By Size, 2015-2022 (USD Million)
Table 64 Israel Unmanned Surface Vehicle Market Size, By Application, 2015-2022 (USD Million)
Table 65 Israel Market Size, By Size, 2015-2022 (USD Million)
Table 66 Rest of the World Market Size, By Application, 2015-2022 (USD Million)
Table 67 Rest of the World Market Size, By Size, 2015-2022 (USD Million)
Table 68 Rest of the World Market Size, By Country, 2015-2022 (USD Million)
Table 69 Nigeria Market Size, By Application, 2015-2022 (USD Million)
Table 70 Nigeria Market Size, By Size, 2015-2022 (USD Million)
Table 71 Brazil Market Size, By Application, 2015-2022 (USD Million)
Table 72 Brazil Market Size, By Size, 2015-2022 (USD Million)


List of Figures (56 Figures)

Figure 1 Research Design
Figure 2 Breakdown of Primary Interviews: By Company Type, Designation & Region
Figure 3 DOD Spending on USV From (2007-2016)
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Assumptions of the Research Study
Figure 8 Defense Segment to Grow at Highest CAGR During the Forecast Period
Figure 9 Small Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 10 Solar Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 11 Autonomous Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 12 Sensors Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 13 Europe USV Market to Witness Highest Growth During the Forecast Period
Figure 14 High Demand for USV in Scientific Research and Commercial Applications Drives the USV Market During the Forecast Period
Figure 15 Defense Segment is Estimated to Capture Highest Market Share in 2017
Figure 16 Small USV Expected to Lead the Market Over the Forecast Period
Figure 17 Mechanical System is Expected to Capture Highest Market Share in 2017
Figure 18 Developing Countries in USV Market is Expected to Grow at A Higher CAGR From 2017 to 2022
Figure 19 Unmanned Surface Vehicle Market Dynamics
Figure 20 Maritime Piracy Attacks, 2009-2014
Figure 21 Unmanned Surface Vehicles Market: Value-Chain Analysis
Figure 22 Market: Supply-Chain Analysis
Figure 23 Porter’s Five Forces Analysis
Figure 24 Defense Segment of the USV Market is Projected to Grow at the Highest CAGR During the Forecast Period
Figure 25 Small USV to Grow at the Highest CAGR From 2017 to 2022
Figure 26 Solar Segment of the USV Market is Projected to Grow at the Highest CAGR During the Forecast Period
Figure 27 Autonomous Segment is Projected to Grow at the Highest CAGR During the Forecast Period
Figure 28 Sensors Payload Accounts for Highest CAGR in the USV Market During the Forecast Period
Figure 29 Geographic Snapshot (2017): Highest Growing Regions
Figure 30 North America USV Market: Snapshot
Figure 31 Europe Unmanned Surface Vehicle Market Snapshot
Figure 32 Dive Chart
Figure 33 ASV Unmanned Marine Systems: Product Offerings Scorecard
Figure 34 ASV Unmanned Marine Systems: Business Strategies Scorecard
Figure 35 Teledyne Technologies, Inc.: Company Snapshot
Figure 36 Teledyne Technologies, Inc.: Product Offerings Scorecard
Figure 37 Teledyne Technologies, Inc.: Business Strategies Scorecard
Figure 38 Textron, Inc.: Company Snapshot
Figure 39 Textron, Inc.: Product Offerings Scorecard
Figure 40 Textron, Inc.: Business Strategies Scorecard
Figure 41 Atlas Elektronik GmbH.: Product Offerings Scorecard
Figure 42 Atlas Elektronik GmbH.: Business Strategies Scorecard
Figure 43 ECA Group: Company Snapshot
Figure 44 ECA Group: Product Offerings Scorecard
Figure 45 ECA Group: Business Strategies Scorecard
Figure 46 Searrobotics, Inc.: Product Offering Scorecard
Figure 47 Searrobotics, Inc.: Business Strategy Scorecard
Figure 48 Elbit Systems Ltd.: Company Snapshot
Figure 49 Elbit Systems Ltd.: Product Offering Scorecard
Figure 50 Elbit Systems Ltd.: Business Strategy Scorecard
Figure 51 Rafael Advanced Defense Systems: Product Offerings Scorecard
Figure 52 Rafael Advanced Defense Systems: Business Strategies Scorecard
Figure 53 5G International, Inc.: Product Offerings Scorecard
Figure 54 5G International, Inc.: Business Strategies Scorecard
Figure 55 Liquid Robotics: Product Offerings Scorecard
Figure 56 Liquid Robotics: Business Strategies Scorecard

The unmanned surface vehicle (USV) market is projected to grow from USD 470.1 Million in 2017 to USD 938.5 Million by 2022, at a CAGR of 14.83% during the forecast period. Factors, such as increase demand for the ISR, water quality monitoring, maritime security and threats, and need for ocean data and mapping are driving the unmanned surface vehicle market. unmanned surface vehicles have been increasing the interest of various manufacturers and their inclination towards the USV market. Government organizations and private agencies have been investing to manufacture and develop advanced and efficient USVs.

On the basis of application, the given market has been segmented into defense, commercial, scientific research, and others. The defense segment is projected to grow at a significant CAGR during the forecast period, because USVs offers greater capacity compared to traditional equivalent systems and can be equipped with stabilized weapons system and electro optical tracking system. This would help defense forces monitor at night using infrared vision.

Based on size, the unmanned surface vehicle market has been segmented into small, medium, large, and extra large. In terms of volume, the small USV segment dominates the studied market, and is expected to continue its dominance over the next 5 years, primarily driven by the rise in demand in the commercial sector and its cost-effective operational use.

Based on propulsion system, the hybrid segment is projected to grow at the highest growth rate in the unmanned surface vehicle market as these propulsion systems have various advantages such as greater endurance, low noise operations, and greater reliability over single propulsion.

On the basis of modes of operation, the unmanned surface vehicle market report is segmented into semi-autonomous and autonomous. The autonomous segment is expected to grow the highest CAGR during the forecast period. Increasing demand for autonomous USVs by defense organizations is driving this segment.

The payload segment of the unmanned surface vehicle (USV) market includes sensors, x-band radars, camera, INS, SONAR, visual systems, and others. Of these, the sensors segment is estimated to account for the largest share and is projected to grow at the highest CAGR during the forecast period.

The European region is projected to grow at a highest CAGR during the forecast period. This growth is due the demand of USVs by navies for ISR and oceanographic studies and presence of key manufacturers such as ECA Group (France), ASV (U.K.) and Atlas Elektronik (Germany) in the region.

Unmanned Surface Vehicle (USV) Market

There are certain challenges in USV market which includes high cost of production, development of fully autonomous technology along with availability of substitute products such as AUVs and ROVs.

The key players operating in the global USV market have been identified to be Autonomous Surface Vehicle Limited (U.K.), Textron Inc (U.S.), ECA Group (Israel), IAI (Israel), Elbit Systems (Israel), among others. Long-term contracts and new product launches are the two major growth strategies adopted by the major players to strengthen their positions in the global USV market, while also enhancing their product offerings.

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