The new unmanned surface vehicle market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Unmanned Surface Vehicle Market 2020-2024 (Graphic: Business Wire)
Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the unmanned surface vehicle market.
“One of the primary growth drivers for this market is the increased research and investment on USVs,” says a senior analyst for the Industrials industry at Technavio. As the markets recover, Technavio expects the unmanned surface vehicle market size to grow by $ 1.15 billion during the period 2020-2024.
Unmanned Surface Vehicle Market Segment Highlights for 2020
- The unmanned surface vehicle market is expected to post a year-over-year growth rate of 7.92%.
- Based on the end-user, the market saw maximum growth in the defense segment.
- The market growth in the defense segment will be significant during the forecast period.
- 40% of the growth will originate from the North America region.
- The US is the key market for Unmanned Surface Vehicle Market in North America.
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- The unmanned surface vehicle market size is expected to accelerate at a CAGR of over 13% during the forecast period.
- The unmanned surface vehicle market is segmented into End-user (Defense and Commercial) and Geography (North America, APAC, Europe, MEA, and South America).
- The market is fragmented due to the presence of many/few established vendors holding significant market share.
- The research report offers information on several market vendors, including AutoNaut Ltd., Clearpath Robotics Inc., Elbit Systems Ltd., L3Harris Technologies Inc., Marakeb Technologies LLC, Ocean Aero, QinetiQ Ltd., Rakuten Inc., SeaRobotics Corp., and ThyssenKrupp AG
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