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Defense Application, Mine Countermeasure Segment Projected To Lead Unmanned Surface Vehicle Market from 2021 To 2026

The report provides an analysis of the Unmanned surface vehicles market from 2021 to 2026. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market. The Unmanned surface vehicles market is projected to grow from USD 616 million in 2021 to USD 1,038 million by 2026, at a CAGR of 11.0% in terms of value during the forecasted period of 2021 to 2026. The unmanned surface vehicle market in the North America, Latin America, Middle and Asia Pacific regions is expected to witness substantial growth during the forecast period due to the growing emphasis on modernizing existing defense capabilities and use of autonomous vessels for commercial application.

Based on Application, the defense segment is projected to grow at the highest CAGR during the forecast period. Countries such as the US, Canada, France, and China are increasingly adopting USVs for defense applications; this is driving the growth of the USV market.

L3Harris Technologies (UK), Textron Inc. (US), Rafael Advanced Defense Systems Ltd. (Israel), ECA Group (France), Teledyne Technologies (US), and Elbit Systems (Israel) are some of the key players operating in the unmanned surface vehicle market.

Based on size, the small (<3 meters) segment is projected to register the highest CAGR during the forecast period. Very small USVs (VSUSVs), small USVs (SUSVs), and gliders are better suited for single-type missions, such as hydrographic surveys and ISR missions. Since the adoption of USVs for ISR missions is expected to grow significantly, the demand for small USVs will also remain high.

By defense application, the ISR segment is projected to register the highest CAGR from 2021 to 2026, The urgency of ISR missions is high as compared to any other defense mission. The suitability of USVs to carry out these ISR missions in the ocean will drive the growth of the ISR defense application segment in the unmanned surface vehicle market.

The North American region is estimated to lead the Unmanned surface vehicles market in the forecast period. The growth of the North America Unmanned surface vehicles market is primarily driven by increasing focus on increasing investments in Unmanned surface vehicles technologies by countries in this region. In addition, factors including increasing geopolitical tensions and increased defense-related expenditure are expected to drive the demand for Unmanned surface vehicles market in the region.

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