(MENAFN- America News Hour) Military Unmanned Surface Vehicle Market: which delivers a detailed overview of the military unmanned surface vehicle market in terms of market segmentation by type, system, application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter's five force model.
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Unmanned surface vehicles are the vehicles that are operated remotely on or below the water surface without any human interface and entanglement. Thriving on the back of enhanced research in oceanography and hydrography, military and commercial operations, monitoring ocean and anti-submarine warfare, and preventing contamination ocean freshwater, the market is expected to witness a significant opportunity and grow with a notable CAGR over the forecast period of 2020-2028. The
military unmanned surface vehicle market
is segmented by application into defense and commercial, out of which the defense segment is anticipated to hold the largest share owing to the increasing importance from navies across the world, backed by the need to perform several underlying purposes with the help of the USVs, including surveillance, reconnaissance, mine countermeasures, and anti-submarine activities among others. Moreover, the increasing expenditure by the government of nations worldwide for purchasing military equipment is also anticipated to drive the growth of the segment during the forecast period.
According to The World Bank, military expenditure around the world increased from USD 1.631 trillion in the year 2016 to USD 1.782 trillion in the year 2018.
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Based on geography, the military unmanned surface vehicle market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. North-America is expected to hold the largest shares in the military unmanned surface vehicle market over the forecast period on account of military augmentation, a huge budget, and higher extensive research of oceanography and hydrography.
Augmentation Of The Capabilities in the Military Sector
Increasing need amongst nations to enhance their military capabilities is one of the major drivers that is anticipated to drive the growth of the global unmanned surface vehicle market. Several nations worldwide are increasingly raising their budget for military expenditure so as to have an advanced military infrastructure with all the advanced equipment. Moreover, the increasing concern for terrorist attacks on nations is also raising the need amongst the nations to have advanced equipment that can help them in the military warfare. On the other hand, the increasing research and developments in the subjects of oceanography and hydrography are also anticipated to drive the demand for unmanned surface vehicles during the forecast period. download sample of this strategic report
However, availability of low cost unmanned underwater vehicle (UUV) and remotely operated vehicles and lack of capabilities of the collision detector of the unmanned surface vehicles which are expected to operate as a key restraint to the growth of unmanned surface vehicles market over the forecast period.
Major players include in the global Military Unmanned Surface Vehicle Market :
Liquid Robotics, L3 ASV, Teledyne Technologies Inc.( NYSE: TDY), Textron Systems Corporation(NYSE: TXT), Atlas Elektronik, ECA Group(EPA: ECASA), Searobotics Corporation, Elbit Systems Ltd.( TLV: ESLT), Rafael Advanced Defense Systems(RFL: NYSE), 5G international Inc. ( U.S.: OTC).
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the military unmanned surface vehicle that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies accordingly to the ongoing and expected trends in the future.
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