The market for small unmanned surface vehicles (USVs) is projected to expand significantly, increasing from approximately US$ 361.29 million in 2021 to around US$ 740.67 million by 2028. This growth represents a compound annual growth rate (CAGR) of 10.80% over the forecast period from 2021 to 2028.
Several key factors are propelling the growth of the small unmanned surface vehicle market. A notable increase in the need for oceanographic data collection, particularly in relation to water quality monitoring, is a primary driver. Additionally, there is a growing demand for coastal surveillance and anti-submarine warfare operations, which further fuels the market's expansion. Furthermore, ongoing investments in technologies for unmanned maritime exploration are expected to create substantial opportunities for vendors in this sector throughout the forecast period.
The COVID-19 pandemic, which emerged in early 2020, had a profound impact on numerous industries worldwide, including the small unmanned surface vehicle market. Lockdown measures implemented by various governments disrupted supply chains and created significant demand-supply imbalances across different sectors. In North America, the pandemic led to a decline in investments in automation technologies, adversely affecting the small unmanned surface vehicle market in 2020. However, forecasts indicate that the market is likely to recover and resume growth by the second quarter of 2022, as per recent research findings.
Despite the challenges posed by the pandemic, the hydrography sector did not experience a severe decline in the adoption of automation technologies. Although marine operations were halted during the initial months of the pandemic, the demand for unmanned surface vehicles has been on the rise in recent years, becoming a prevalent trend within the marine industry. The defense sector, in particular, has emerged as a rapidly growing market for unmanned systems in North America, especially in the United States, driven by increased investments in autonomous unmanned vehicles within the defense industry. This trend has significantly contributed to the growth of the small unmanned surface vehicle market in 2020.
The small unmanned surface vehicle market is categorized based on various criteria, including size, payload, application, and geographical region. In terms of size, the market is divided into three segments: 1-2 meters, greater than 2-4 meters, and greater than 4-6 meters. When considering payload, the market is segmented into categories such as sonar, camera, GPS, SATCOM, and others. Geographically, the global market is segmented into several regions: North America (including the US, Canada, and Mexico), Europe (comprising France, Germany, Italy, the UK, Russia, and the rest of Europe), Asia Pacific (including Australia, China, India, Japan, South Korea, and the rest of APAC), the Middle East and Africa (covering South Africa, Saudi Arabia, UAE, and the rest of MEA), and South America (including Argentina, Brazil, and the rest of SAM). In 2021, North America held a significant share of the global market.
Several prominent players are active in the global small unmanned surface vehicle market, including HYDRONALIX, Aanderaa Data Instruments AS, AutoNaut Ltd, Eco Marine Power, Liquid Robotics Inc., OceanAlpha Group Ltd, Seabed BV, SeaRobotics Corporation, Sirehna, and QinetiQ Group plc. These companies are key contributors to the market's development and innovation.
The overall size of the global small unmanned surface vehicle market has been determined through a combination of primary and secondary research methodologies. The research process began with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. This approach also aimed to provide a comprehensive overview and forecast for the small unmanned surface vehicle market across all segments. Additionally, numerous primary interviews were conducted with industry stakeholders and experts to validate the data and gain deeper analytical insights. Participants in this research included industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the small unmanned surface vehicle market.