ASV Report 2020 – 2024

The Autonomous Surface Vehicle market is set to become a multi-billion-dollar market over the coming years. ASV technology is advancing at breakneck pace, opening new potential markets for the these highly integrated systems. As of the publication of this report, the economic outlook amid the COVID-19 pandemic is far from certain, but there is an argument to be made that the ASV industry as a whole is somewhat insulated as the total market’s largest component is the military, and defense spending by the major military powers – the ones that have the greatest interest in developing ASVs – are unlikely to see large cuts.

This report goes beyond the military markets to also incorporate ASVs for scientific and commercial application. It does not include Maritime Autonomous Surface Ships (MASS) for commercial, large-scale transport of cargo. The report presents a five-year demand forecast from 2020-2024 for ASVs, with units defined as a complete system – a vessel (hull) with a full autonomy package and a payload to complete one or more specific missions. While the market remains in its infancy, there are signs that market maturity may not be too far away. Mainstream usage (prototyping to production), new production contracts (measurable demand), and new or expanded production facilities, mergers and acquisitions, etc., all suggest that this market has a prosperous future.