The Unmanned Surface Vehicle market is anticipated to grow at a considerable CAGR of 4.9% during the forecast period (2022-2028). One of the crucial factors that are boosting the market is the growing market players to increase the competitiveness in the market. In the last few years, several companies have taken participated in the making of unmanned surface vehicles with different designs, technologies, and applications which has increased the demand in the market. In the last 10 years, 3 startups have gained a lot of attention in the unmanned surface vehicle market due to several reasons such as design, technology, quality, and other offers. These three startups are-
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COVID-19 pandemic had significantly impacted most industries owing to the nationwide lockdowns across the globe in most of the countries. The lockdown had restricted most of the production work which dented the industries including the unmanned surface vehicle industry. This led the governments to a huge economic crisis, which resulted in the cutting budget of the defense sector of most of the nations. This resulted in a decline in the demand for the USVs. As per the 2020 annual report of Teledyne Technologies Inc., to respond to the impact of COVID-19, in 2020 the Company took actions to reduce headcount by 9.8% across various businesses, reducing its exposure to weak end markets. The Company paid $29.0 million, $484.0 million, and $3.1 million on acquisitions with other investments, net of cash acquired in 2020, 2019, and 2018, respectively. However, as the situation got normal, the tension between the countries such as India, Pakistan, China, Russia, the USA, and others have increased which boosted the demand for the USVs in the global market.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Unmanned Surface Vehicle Market Report Segment
By Size
- Small
- Medium
- Large
By Mode of Operation
- Autonomous Surface Vehicle
- Remotely Operated Surface Vehicle
By Application
- Defense
- Commercial
Unmanned Surface Vehicle Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the Unmanned Surface Vehicle market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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