Global Military Unmanned Maritime Systems Market

NEW YORK, Sept. 30, 2014 /PRNewswire/ -- The global unmanned maritime systems (UMS) market is a relatively nascent market in which innovations are rapidly improving capabilities. Some of these innovations are being developed by companies in response to the large demand requirements from oil and gas companies. Military users are taking advantage of these innovations and adapting UMS capabilities for potential military missions. It is expected that the United States will dominate the global market for military UMS for the time being; however, just like the unmanned aerial system (UAS) market, countries with large militaries will increase spending on UMS once the technology is proven and cost effective.

Key Findings
-It is estimated that the global military unmanned maritime systems (UMS) market will almost double, from $ million in 2013 to $million by 2020. This is viewed as a best-case scenario as the market is still nascent with great growth potential.
-UMS growth for the forecast period will mainly be driven by research, development, test, and evaluation (RDT&E). Procurement will increase after the forecast period.
oMost UMS projects will be tested in limited capabilities demonstrations or during small unit operations. Once validated, new systems will be adapted for use on a larger scale.
oProcurement of substantial UMSs on a global basis will occur after the forecast period.
oCurrently, there seems to be more demand for UMSs from the commercial oil and gas industry than from global militaries. Therefore, many innovations are coming from commercial requirements and then being adapted for military use—the opposite of how technology development normally flows.

-The United States will dominate the global market for military UMSs during the forecast period, but just like the unmanned aerial systems (UAS) market, countries with large militaries will increase spending on UMSs once the technology is proven and cost effective. It is likely that procurement of UMSs will accelerate at the end of, and beyond, the forecast period.
-Outside North America, the Asia-Pacific region will spend the most on UMSs over the forecast period. This is mostly due to China's continued military buildup in all areas and the rest of the region needing to develop asymmetric defenses to Chinese and North Korean military threats.
-The Middle East will have the largest compound annual growth rate (CAGR) over the forecast period. Countries in this region are cash-rich and will substantially increase defense budgets over the next several years to counter rising threats to high-value targets.
-It is estimated that the top UMS competitors generated % of market revenue in 2013. A large portion of the total UMS market will consist of defense spending on RDT&E grants/contracts to spark innovation and interest in the market.

Read the full report: http://www.reportlinker.com/p02307276-summary/view-report.html

About Reportlinker
ReportLinker is an award-winning market research solution that finds, filters and organizes the latest industry data so you get all the market research you need - instantly, in one place.

http://www.reportlinker.com

__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001

SOURCE Reportlinker