Global News: The unmanned surface vehicle market is estimated to be USD 534 million in 2018 and is projected to reach USD 1,020 million by 2023, at a Compound Annual Growth Rate (CAGR) of 13.8% from 2018 to 2023 According to the new market research report on the "Unmanned Surface Vehicle (USV) Market by Application (ISR, MCM, Oceanography, Hydrography), System (Propulsion, Communication, Payload, Chassis), Type (Surface, Sub-surface), Mode of Operation, Size, Hull, Endurance and Region - Global Forecast to 2023", The unmanned surface vehicle market is estimated to be USD 534 million in 2018 and is projected to reach USD 1,020 million by 2023, at a Compound Annual Growth Rate (CAGR) of 13.8% from 2018 to 2023. This growth can be attributed to the rising demand for maritime security, protection of shallow waters & ports, and need for ocean data & mapping, globally. Browse 95 market data Tables and 36 Figures spread through 161 Pages and in-depth TOC on "Unmanned Surface Vehicle (USV) Market - Global Forecast to 2023" View detailed Table of Content here – https://www.marketsandmarkets.com/Market-Reports/unmanned-surface-vehicle-market220162588.html
Defense segment to grow at a higher CAGR in the unmanned surface vehicle market, among all applications during the forecast period Defense segment is projected to grow at a higher CAGR during the forecast period due to the significant demand from navies across the world for purposes, such as surveillance, reconnaissance, anti-submarine warfare, and mine countermeasures. Most of the players have invested in large sized USVs for combat operations, cargo supply, and lethal and non-lethal armament, among others. In North America, the defense segment accounts for the highest market share of the global unmanned surface vehicle market and major emphasis has been placed on the autonomy and intelligence of USVs. The payload segment of the unmanned surface vehicle market by system to grow at the highest CAGR during the forecast period