Military Unmanned Surface Vehicle Market Trends

Growth Drivers

• Increasing Research in the Sectors of Oceanography And Hydrography
  Researchers in the sectors of oceanography and hydrography are increasingly monitoring conditions for further knowledge on the subject. Backed by the increasing support from several governmental institutions and increasing funding for research in the sector, researchers are planning to deploy advanced equipment, such as unmanned surface vehicles, that can help them in the process of their research. For instance, the Nippon Foundation recently announced a campaign called Seabed 2030, which aims to create a General Bathymetric Chart of the Oceans (GEBCO). Similarly, several other firms are increasingly deploying autonomous vessels to aid them in their research. Such a factor is anticipated to drive the growth of the global military unmanned surface vehicle (USV) market.
• Augmentation Of The Capabilities in the Military Sector
  Many countries are striving in enhancing their military capabilities, and upgrading to highly advanced, reliable, and trustable unmanned surface vehicles for area detection and modern warfare. Backed by the increasing expenditure of the government of nations on military equipment and the need for advanced equipment in the military, such factors are anticipated to drive the growth of the global military unmanned surface vehicle (USV) market in the coming years.

Challenges

• Existence of Alternatives
  Availability of low cost unmanned underwater vehicle (UUV) and remotely operated vehicles are expected to restrain the growth of military unmanned surface vehicles over the forecast period.
• High Installation and Maintenance Cost
  High installation and maintenance costs associate with unmanned surface vehicles are predicted to hamper the growth of the market. USVs require continuous maintenance and repair after a certain interval which makes them expensive and negatively impacts the USVs market.