The global unmanned marine vehicles market is anticipated to grow at a significant CAGR of 12.1% during the forecast period. One of the core factors driving the market is its high application in oceanic surveillance. This has been driving the market for defense and security as unmanned marine vehicles, as it provides greater capacity for identification, surveillance, and interception than traditional systems. These vehicles can be equipped with stabilized surveillance systems, weapons systems, and electro-optical tracking systems which are capable of monitoring night and day via using infrared vision.
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The COVID-19 pandemic had significantly impacted most industries owing to the nationwide lockdowns across the globe in most countries. The lockdown had restricted most of the production work which dented the industries including the unmanned marine vehicle industry. This led the governments to a huge economic crisis, which resulted in the cutting budget of the defense sector of most nations, further declining the demand for UMVs. As per the 2020 annual report of Teledyne Marine Group, sales of marine instrumentation decreased by $23.9 million. To respond to the impact of COVID-19, in 2020 the company reduced the headcount by 9.8% across various businesses, reducing its exposure to weak end markets. Furthermore, the Company paid $29.0 million, $484.0 million, and $3.1 million on acquisitions with other investments, net of cash acquired in 2020, 2019, and 2018, respectively. However, as the situation got normal, the tension between the countries such as India, Pakistan, China, Russia, the USA, and others increased which boosted the demand for UMVs in the global market.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Unmanned Marine Vehicles Market by Type
- Surface Vehicle
- Underwater Vehicle
Global Unmanned Marine Vehicles Market by Control type
- Remotely Operated
- Autonomous
Global Unmanned Marine Vehicles Market by Application
- Defense
- Commercial
- Research
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- BAE Systems plc.
- ECA Group
- L3Harris Technologies, Inc.
- Northrop Grumman Systems Corp.
- Ocean Aero Inc.
- Pelorus Technologies
- QinetiQ Maritime Autonomy Centre (QMAC)
- Teledyne Marine Group
- Textron Systems Corp.
- THALES
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global unmanned marine vehicles 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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