Analyst Predictions about the Unmanned Marine Vehicle Market

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Unmanned marine vehicles provide an effective alternative for typical marine jobs performed by the personnel. As technological innovations improve, the cost of acquisition of such systems is expected to decrease, and prove to be an effective alternative when compared to the legacy systems.

Rise in Defense Spending

Many countries have been increasing their defense spending, especially countries, like Russia. They have been investing heavily in defense spending, however, the spending has not reached its peak, since 2015.  European Baltic states, such as Estonia, Latvia, and Lithuania, have also been investing in defense spending, as an aid against countries, like Russia. This spending can lead to investing in latest technologies, such as UMVs, to gain a technological edge over other countries. Without shifting focus from the country, NATO has a target of 2% of GDP to be spent on defense, at the minimum. Only five of the 28 countries present have met the norms set by the organization, indicating that more countries are expected to increase their defense spending. The United States has also increased its spending, with President Donald Trump signing an agreement of USD 700 billion for the national defense spending.

Marine Expenditure

Technological Innovations in Military

The military that has been changing to a more technological background, with technological innovations in military allowing the use of latest systems for combat. Many countries have been relying on technological innovations to revolutionize warfare. Innovations, such as Hoverbike and a 34-ton combat vehicle, which can be used in water, are some of the innovations that have been in use. Many militaries are expected to increase investment in research for the development of new technologies for warfare. A bulk of the spending is for intelligence, surveillance, and reconnaissance. Countries, such as the United Kingdom, have already laid plans for intelligence, surveillance, and reconnaissance, till the year 2035. The Ministry has already predicted that many essential activities will become heavily reliant on mobile communication, each requiring a degree of assured access to the right parts of the electromagnetic spectrum. Development of trends, like the Internet of Things, have further laid out the need for UMVs, which could be integrated as part of a system that would ease the use of such machinery.

Speak to our Research Analyst to know more about the market trends.

The report also examines the role of leading players in the market. Some of the key players listed in the study are:

Atlas Elektronik

Sea Robotics Inc.

Liquid Robotics

Rafael Advanced Defense Systems

BAE Systems

Ocean Aero Inc.

Pelorus Naval Systems

Kongsberg Gruppen

ECA Group

Textron Inc.

Access the full report of Unmanned Marine Vehicle Market to know more about each key player, and its competition.

About the Unmanned Marine Vehicle Market

As per Mordor Intelligence’s analysis, the Unmanned Marine Vehicle Market is expected to register a CAGR of 11.67% during the forecast period (2018-2023).

Lohit Kilaru
Lohit Kilaru Kilaru Naga Lohit works as a Research Associate for the ICT domain at Mordor Intelligence. He holds a degree in manufacturing engineering and is dedicated to providing key industry insights on the new and emerging technologies through investigating trends, analyzing data and engaging with Tech & Research community.
Lohit Kilaru Kilaru Naga Lohit works as a Research Associate for the ICT domain at Mordor Intelligence. He holds a degree in manufacturing engineering and is dedicated to providing key industry insights on the new and emerging technologies through investigating trends, analyzing data and engaging with Tech & Research community.  

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