Unmanned Surface Vehicle (USV) Market

New product launches, to further expand their presence in the global Unmanned Surface Vehicle (USV) Market

The global unmanned surface vehicle market size is expected to grow from USD 534 million in 2018 to USD 1,020 million by 2023, at a Compound Annual Growth Rate (CAGR) of 13.8% during the forecast period. The major driving factors in the unmanned surface vehicle market are the rising incidences of terrorism, cross-border disputes, and conflicts across the globe, which are leading to the increasing need for enhanced border and maritime security.

The major players in the unmanned surface vehicle market include ASV Global (UK), Teledyne Technologies (US), Textron Inc. (US), ECA Group (France), Israel Aerospace Industries (Israel), Atlas Elektronik (Germany), SeaRobotics (US), Maritime Robotics (Norway), Elbit Systems (Israel), Rafael Advanced Defense Systems (Israel), 5G International (US), and Liquid Robotics (US), among others. These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global unmanned surface vehicle market. Partnerships and new product launches have been the leading strategies adopted by major players from 2016 to 2018, which helped them to innovate on their offerings and broaden their customer bases.

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In line with the increasing adoption of unmanned surface vehicles (USVs), ASV Global (now L3 ASV) has been working to design and develop technologically enhanced USVs that meet the demand for military, offshore energy, security, and scientific applications. The company focuses on building long-term strategic partnerships and agreements with companies and research institutes that are key players in the unmanned surface vehicle market. In May 2018, ASV Global led a collaborative partnership project, Autonomous Surface and Sub-surface Survey System (ASSSS), funded by Innovate UK, to increase data gathering opportunities by deploying Autonomous Underwater Vehicles (AUVs) and Autonomous Surface Vehicles (ASVs).

Teledyne Technologies is another key player in the unmanned surface vehicle market. The company offers USVs through its subsidiary, Teledyne Marine. Its offers include Q-Boat 1800RP, Z-Boat 1800RP, Q-Boat1250, and Z-Boat 1250. The company’s acquisition of SeaBotix (US), as well as Oceanscience (California), broadened marine instrumentation capabilities, such as the addition of Oceanscience Z-Boat series in its portfolio. Teledyne Technologies has signed contracts with various companies and educational institutions globally. In May 2018, Teledyne Marine and Research Products Development Company (RPDC) signed an agreement to collaborate on global commercialization of new technologies developed within Saudi Arabia.

Related Reports:

Unmanned Surface Vehicle (USV) Market by Application (ISR, MCM, Oceanography, Hydrography), System (Propulsion, Communication, Payload, Chassis), Type (Surface, Sub-surface), Mode of Operation, Size, Hull, Endurance and Region - Global Forecast to 2023

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Report Code
AS 4110
Published ON
Nov, 2018
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