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Research and Markets: Unmanned Naval Systems Market to See 6% CAGR by 2020

Research and Markets: Unmanned Naval Systems Market to See 6% CAGR by 2020 - top government contractors - best government contracting event

market researchA new report from Research and Markets predicts the global market for unmanned sea platforms to experience a compound annual growth rate of at least 6 percent over the next four years.

Military expansion efforts of governments across the world and the increasing adoption of commercial off-the-shelf components are expected to the drive the market from 2016 through 2020, Research and Markets said Wednesday.

The company said in the report that it forecasts the Americas, particularly the U.S., to gain a 39 percent share of the global market by 2019, driven by the increased spending of the U.S. Navy, the Defense Advanced Research Projects Agency and other agencies on unmanned sea systems.

The report cited Atlas Elektronik, BAE Systems, General Dynamics, Mitsubishi Heavy Industries and Raytheon as key market players.

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Written by Jane Edwards

is a staff writer at Executive Mosaic, where she writes for ExecutiveBiz about IT modernization, cybersecurity, space procurement and industry leaders’ perspectives on government technology trends.

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