Fast Market Research recommends "Unmanned Surface Vehicle (USV) Market - Global Forecast to 2021" from Markets and Markets, now available
[USPRwire, Wed May 18 2016] 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 2021
"Increasing need for ISR, water quality monitoring and data mapping is a major factor for increasing procurement of Unmanned Surface Vehicle (USV), globally"
The global unmanned surface vehicle market is expected to grow from an estimated USD 437.57 million in 2016 to USD 861.37 million by 2021, at a CAGR of 14.51% from 2016 to 2021. The market for USV is driven by critical factors, such as increasing need for ocean data and mapping, maritime security and asymmetric threats.
"Defense segment to witness higher growth during the forecast period in unmanned surface vehicle market"
The key applications considered for the market study are commercial and defense. Defense segment market is estimated to grow at the highest CAGR during the forecast period, than other applications. USVs are used for several defense applications, such as mine counter measures, anti-submarine, and maritime security, among others. Unmanned underwater vehicles are also available for performing such applications. However there are several advantages of USVs over UUVs as unmanned underwater vehicles have limited endurance, power, payload capacity and cannot withstand in destructive war, along with incapability to send exact data due to water disturbance.
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"North America dominates; Europe to grow at the highest rate"
The North American region dominates the global unmanned surface vehicle market in 2016, and is expected to continue its dominance during the forecast period. The U.S. is considered to be the largest developer, operator, and exporter of USV, globally, thereby resulting in the large share of the North American region in the global unmanned surface vehicle market.
The market in Europe is projected to grow at the highest CAGR during the forecast period. This rapid growth can be attributed to the fact that increasing demand from scientific research and survey industries. In European region maritime threats are continuously increasing which are affecting the transportation of goods and energy. Due to such situation the demand for the USVs is increasing in maritime security area.
"Break-up of profile of primary participants for the Unmanned Underwater Vehicle Market"
* By Company Type - Tier 1 - 35 %, Tier 45 - 20% and Tier 3 - 20%
* By Designation - C level - 35%, Director level - 25%, Others - 40%
* By Region - North America - 45%, Europe - 30%, APAC - 200%, RoW - 5%
The major companies profiled in the report include Autonomous Surface Vehicle Limited (U.K.), Textron Inc. (U.S.), ECA Group (France), Israel Aerospace Industries (Israel), Elbit Systems (Israel), among others.
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