MarketsandMarkets: The unmanned surface vehicle (USVs) market is estimated to be USD 0.7 billion in 2022 and is projected to reach USD 1.2 billion by 2027, at a CAGR of 11.1% from 2022 to 2027. The market is driven by factors such as development of new & advanced Unmanned surface vehicles which are being used in several military operations such as Mine Countermeasure, ISR etc, and commercial operations such as Hydrographic Surveying, Seabed Mapping, etc.
L3Harris Technologies (US), Fugro (Netherlands), ECA Group (France), Textron Inc. (US), and Thales Group (France) are among the key global companies manufacturing unmanned surface vehicles.
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L3Harris Technologies (US)
L3Harris Technologies is a leading player in the unmanned surface vehicle market. ASV Global is a private SME acquired by L3 Technologies in September 2018. Known post its acquisition as L3 ASV, the company specializes in autonomous surface vehicles (ASVs) and related products to suit the demand for military, offshore energy, security, and scientific applications. The company is engaged in organic and inorganic strategies to enhance its USV capabilities. For instance, in July 2018, L3 ASV entered into a partnership with Sonardyne International Ltd., the National Oceanography Centre (NOC), and SeeByte to deliver a long-endurance, multi-vehicle, autonomous survey solution. During the same period, the company and Metal Shark partnered to co-develop Sharktech autonomous vehicles.
ECA Group (France)
ECA Group develops integrated systems and designs drones that operate on water, underwater, land, and air. It provides solutions to the defense, maritime, nuclear power, and oil & gas sectors. The company is developing a research program on robotic systems for the future to meet the needs of customers, such as improved autonomous decision-making processes, navigational accuracy, and improved interaction between robots.
Textron inc. (US)
Textron inc. is a key player in the unmanned surface vehicle market. The company’s key strategy is acquisitions, which help it explore new market opportunities, grow its market share, and provide a diversified product portfolio to its customers. The company is focused on acquiring several businesses that complement its product lines and add new capabilities to its existing operations. In January 2018, Textron Systems, a subsidiary of Textron inc., signed a Cooperative Research and Development Agreement (CRADA) with Naval Sea Systems Command (NAVSEA).
Thales Group (France)
Thales Group is another leading player in the unmanned surface vehicle market. The company has well-established distribution networks and a monopoly with high barriers to entry that protects its specialized products and services in several European, Asian, and Latin American countries.
Fugro has been focusing on increasing its customer base through successful product deliveries. Its focus on improving operational performance and the product delivery has enabled the company to maintain its growth. To strengthen its USV capabilities in the Middle Eastern region, Fugro has recently formed a partnership with AD Ports (UAE) in November 2022.
Unmanned Surface Vehicles Market by type (Autonomous Surface Vehicles, Remotely Operated Surface Vehicles, Application (Defense, Commercial), System, Cruising Speed, Hull Type, Endurance, Size and Region - Forecast to 2027
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