Report : Asia Pacific Small Unmanned Surface Vehicles Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Size (1-2 M, >2-4 M, and >4-6 M), Payload (Sonars, Camera, GPS, SATCOM, and Others), and Application (Defense, Scientific Research, Disaster Management, Hydrography, and Others)
Hydrography Segment to Dominate APAC Small Unmanned Surface Vehicles Market During 2021–2028
According to a new market research study on “APAC Small Unmanned Surface Vehicles Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Size, Payload, and Application,” is expected to reach US$ 266.47 million by 2028 from US$ 118.66 million in 2021. The market is estimated to grow at a CAGR of 12.3% from 2021 to 2028. The report provides trends prevailing in the APAC small unmanned surface vehicles market along with the drivers and restraints pertaining to the market growth. Rising continuous investments in unmanned exploration technologies and governmental regulations towards usage of USVs are the major factor driving the growth of the APAC small unmanned surface vehicles market. However, presence of low cost UUVs hinders the growth of APAC small unmanned surface vehicles market.
COVID-19 affected APAC severely. The temporary shutdown of industrial facilities resulted in disruption in the manufacturing of marine products due to the demand reduction. The pandemic also raised concerns regarding the investments in maritime technologies across Asian countries, such as India, Japan, South Korea. However, leading vendors in this market, such as Hong Kong-based OceanAlpha Group Ltd., rolled out new products during the pandemic. For instance, in August 2020, OceanAlpha rolled out 1,000 Dolphin 1 Remote Control Lifebuoys from its assembly line in Yancheng, China, which has led the company to achieve a milestone for its production base. Moreover, the company held approximately 60% of the global small USV market share in 2020. However, the APAC market also witnessed a decline of 4.23% y-o-y basis compared to FY 2019. According to the research study, it is expected to regain and surpass its share in the market by the end of FY 2021.
The APAC small unmanned surface vehicles market is segmented based on size, payload, application, and country. Based on size, market has been segmented into 1-2 M, >2-4 M, and >4-6 M. The 1-2 M segment dominated the market in 2020 and >2-4 M segment is expected to be fastest growing during forecast period. Based on payload, the market has been segmented into sonars, camera, GPS, SATCOM, and others. The camera segment dominated the market in 2020 and SATCOM segment is expected to be fastest growing during forecast period. Based on application, the market has been segmented into defense, scientific research, disaster management, hydrography, and others. The hydrography segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on country, the market has been segmented into China, India, Japan, South Korea, Australia, and rest of APAC.
Aanderaa Data Instruments AS; AutoNaut Ltd; Eco Marine Power; HYDRONALIX; Liquid Robotics, Inc.; OceanAlpha Group Ltd.; QinetiQ Group plc; and Sirehna are among the leading companies in the APAC small unmanned surface vehicles market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Liquid Robotics, has introduced its newest Wave Glider which include advancements to shoreside operations and in-water performance enabling customers to mobilize, deploy and operate fleets of vehicles more efficiently.
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