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 Ma

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)

The Asia Pacific (APAC) small unmanned surface vehicles market is expected to grow from US$ 118.66 million in 2021 to US$ 266.47 million by 2028. It is estimated to grow at a CAGR of 12.3% from 2021 to 2028. Asymmetric threats in the maritime domain are a risk that can rear attackers' heads when least expected to unleash death and destruction to life and property. There is a rise in the deployment of advanced technologies in small unmanned surface vehicles from military and defense sectors, such as Intelligence, Surveillance, and Reconnaissance (ISR), Mine Counter Measures (MCM), and Anti-Submarine warfare, due to increasing asymmetric threats. The rapid pace of globalization in the recent past has seen growth in trade and commerce rise drastically, 90% of which is attributed to shipping. Several countries are striving to gain more control on maritime trade routes and maritime assets, such as underwater oil reserves and other offshore resources. Also, traditional geopolitical disputes are increasing, which is propelling the demand for constant and efficient maritime surveillance among all countries. One of the significant disputes is China's conflict with its neighbors in the South China Sea and the Pacific Ocean. The conflict is driving the demand for underwater systems, such as small-unmanned surface vehicles, in South East Asia, particularly in building naval strengths to counter both surface and underwater threats from enemies. Marine insecurity is compounding the terrorist threat. Therefore, there is a rise in the demand for small unmanned surface vehicles for maritime security. In addition, maritime shipping and infrastructure are among the sources of a nation's commercial interest and qualify as a potential target of interest for terrorists. Terror attacks against maritime targets in the past have been quite diverse. Perpetrators of past incidents carried out attacks with differing motives. Countries are expected to invest large sums in small unmanned surface vehicles over the forecast period due to territorial conflicts and recently developed indigenous capabilities. All these factors are expected to drive the growth of the APAC small unmanned surface vehicles market in the coming years.

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.

Based on application, the hydrography segment led the APAC small unmanned surface vehicles market in 2020. Hydrography applications of small-unmanned vehicles include studying physical features of water bodies, such as lakes, oceans, and rivers. Also, these operations include depth measurement, searching for shoals, rocks, and wrecks that can be a challenge for marine navigation. Also, small USVs for hydrographic applications perform operations, such as measuring water levels & tides, currents, temperature, salinity, and overall water condition monitoring to provide real-time updates for different marine operations. The growing demand for autonomous systems for these operations is one of the major drivers, which is expected to escalate the demand for hydrography over the coming years, driving the APAC small unmanned surface vehicles market.

The overall APAC small unmanned surface vehicles market size has been derived using primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the APAC small unmanned surface vehicles market. The process also serves the purpose of obtaining an overview and forecast for the APAC small unmanned surface vehicles market concerning all the segments of the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the APAC small unmanned surface vehicles market. Aanderaa Data Instruments AS; AutoNaut Ltd; Eco Marine Power; HYDRONALIX; Liquid Robotics, Inc.; OceanAlpha Group Ltd.; QinetiQ Group plc; and Sirehna are a few leading players in the APAC small unmanned surface vehicles market.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the APAC small unmanned surface vehicles market.         
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the APAC small unmanned surface vehicles market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the small unmanned surface vehicles market, as well as those hindering it    
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution