Unmanned Surface Vehicle (USV) Market to Reach $1.2 Billion by 2027
Amid the COVID-19 crisis, the global market for Unmanned Surface Vehicle (USV) estimated at US$522.6 Million in the year 2020.
It is projected to reach a revised size of US$1.2 Billion by 2027, growing at a CAGR of 13.2% over the period 2020-2027.
Defense, one of the segments analyzed in the report, is projected to record 14.1% CAGR and reach US$949.4 Million by the end of the analysis period.
After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Commercial segment is readjusted to a revised 10.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $154.4 Million, While China is Forecast to Grow at 12.7% CAGR
The Unmanned Surface Vehicle (USV) market in the U.S. is estimated at US$154.4 Million in the year 2020.
China, the world`s second largest economy, is forecast to reach a projected market size of US$216.6 Million by the year 2027 trailing a CAGR of 12.7% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.7% and 11.2% respectively over the 2020-2027 period.
Within Europe, Germany is forecast to grow at approximately 9.6% CAGR.
Competitors identified in this market include, among others:
- 5g International, Inc.
- Asv Global
- Atlas Elektronik GmbH
- ECA Group
- Elbit Systems Ltd.
- Liquid Robotics, Inc.
- Maritime Tactical Systems, Inc.
- Rafael Advanced Defense Systems Ltd.
- SeaRobotics Corporation
- Teledyne Technologies Inc.
- Textron Inc.
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