Unmanned Sea System Market
Unmanned Sea System Market Size was valued at USD 10.1 billion in 2022. The unmanned sea system market industry is projected to grow from USD 10.7 Billion in 2023 to USD 17.5 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.30% during the forecast period (2023 - 2032).
Unmanned sea systems are the remotely controlled or pre-programmed autonomous water vehicles that can mainly be classified into USVs and UUVs. For military applications, navy mainly uses unmanned sea system for underwater mapping missions, surveillance, and are also used as surface targets during naval exercise, or to clear naval mines.
Along with the increase in global conflicts, countries have spent on military expansion and also on procurement of naval vessels including unmanned sea system. Unmanned sea system is of great importance from a strategic and tactical point of view (for naval missions) and has been a crucial component of naval forces around the world. Also, the modern warfare has evolved and is more asymmetric in nature which demands advanced military system for effective defense and surveillance mechanism. Thus, Unmanned Traffic Management Market systems are largely being utilized in the modern tactical missions. Many of today's Unmanned Sea System Market are capable of highly autonomous operation, in which the system itself has the on-board intelligence to make real-time adjustments to the mission parameters, based on new information and/or changing conditions. The market for unmanned sea system is thus expected to grow at a steady rate in the next five years. Demand from major markets, such as the US and Europe, and from the emerging nations in APAC is expected to contribute to the market growth.
Market Research Future (MRFR) analysed the unmanned sea system market 2020 until 2017 to 2023. By 2023, the unmanned sea system market can rise at 7% CAGR. MRFR suggests that the unmanned sea system market can reach substantial valuation by 2023.
The rise in naval application of unmanned sea system as trade in international water is observed to increase can underpin the market expansion in the review period. Automated sea system offers greater operational opportunities with tactical advantages that is observed to create its high demand among end-users that can add momentum to the market.
The increase in the utility of unmanned sea systems in maritime surveillance as the demand for maritime security purposes increase can support the market rise. On the contrary, complexities associated with designs of unmanned sea system devices for lack of compactness can hinder the expansion of the global unmanned sea systems market in the forecast period. However, the imbalance in geopolitics that is creating the need for technically advanced, improved surveillance capability devices can counter the market slow down. In addition, the penetration of unmanned sea system in the field of oceanography can positively impact the market growth.
Competitive Analysis:
Following are the Unmanned Sea System Market Players Bluefin Robotics (Massachusetts), Balt Robotics (Poland), Kongsberg (Norway), Boston Engineering Corporation (MA), Atlas Elektronik (Germany), Gate Elektronik (Yenimahalle), BAE Systems (U.K.), Mitsubishi Heavy Industries (Japan), General Dynamics (U.S.), and Raytheon (U.S.) are some reputed names In the unmanned sea systems market that are listed by MRFR. The functioning of many unmanned sea system manufacturers has created immense competition among them, which is intensified by new entrants. The investment escalation in research and development to introduce high-quality products can improve the impetus of the global unmanned sea systems market.
Market Segmentation
The segment analysis of the global unmanned sea systems market is done by capability and type.
The type-based segments of the global Unmanned Sea System Market are unmanned surface vehicle (USV) and unmanned underwater vehicle (UUV). The unmanned underwater vehicles segment can dominate as they have multiple application in the naval industry for the detection and extraction of underwater mines.
The capability based segment of global unmanned sea systems market are autonomous vehicle and remotely operated vehicle. The rise in demand for autonomous vehicle owing to their pre-programmed navigation plan feature can bolster the growth of the market. In addition, less interference from human operators in case of unmanned sea systems can promote the rise of the market across the analysis period.
Detailed Regional Analysis
Trends and factors of the unmanned sea systems is assessed across Europe, North America, APAC, and the Middle East and Africa. Europe and North America are likely to secure a large share of the global unmanned sea system market in the assessment period. Fall in economic can impact the unmanned sea system market temporarily due to COVID 19 crisis, however increase in defense budget by government of these regions can propel the market expansion.
The unmanned sea systems market in APAC is anticipated to thrive during the analysis period at relatively high growth rate. As APAC encounters numerous territorial disputes and geopolitical tensions intensify in international waters, such as; South China Sea, Indian Ocean, and the East China Sea, the demand for unmanned sea system market is noted to rise. This can support the sales of the regional market.
In MEA, the hike in military expenditure in the Middle East and Africa region due to increase in geopolitical conflicts can aid in the unmanned sea systems market in the region.
Unmanned Sea System Market Report Information, by Type (Unmanned Under Water Vehicle and Unmanned Surface Vehicle), by Capability (Remotely Operated Vehicle and Autonomous Vehicle), and by Regions - Forecast To 2030
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