The Global Unmanned Underwater Vehicle (UUV) Market is projected to reach a value of over USD 11.07 billion by 2027 at a CAGR of around 16.1%.
Unmanned underwater vehicles are the underwater robots can be used for underwater survey missions such as detecting and mapping submerged wrecks, rocks, and obstructions that can be a hazard to navigation for commercial and recreational vessels. Autonomous underwater vehicles and remote operated vehicles are the two types of UUV Systems. An AUV conducts its survey mission without operator intervention. When a mission is complete, the AUV will return to a pre-programmed location where the data can be downloaded and processed. A remotely operated vehicle (ROV) is an unoccupied underwater robot that is connected to a ship by a series of cables. These cables transmit command and control signals between the operator and the ROV, allowing remote navigation of the vehicle. Key players in the UUV market are Saab AB, Lockheed Martin Corporation, Teledyne Technologies Incorporated, and BAE Systems among others.
Market Driver:
Source: IEA
According to IEA, Energy produced offshore is a major component of global oil and natural gas supply and could provide an increasingly important source of renewable electricity. More than a quarter of today’s oil and gas supply is produced offshore mostly in the Middle East, the North Sea, Brazil, the Gulf of Mexico and the Caspian Sea. Hence, to produced more renewable energy, offshore oil & gas activities are increased and it will drive the UUV market during forecast period.
Market Restraints:
The countries such as China, US, Russia are well developed economies and they have assign huge defense budget to research and develop new technologies to create impact in the world. However, the emerging countries such as India, Saudi Arabia, Israel, and many other countries, have very low defense budgets. Hence, some countries trust on traditional defense methodologies rather than developing new and advanced technology for military & defense sector. Hence, it will restrain the market during growth period.
UNMANNED UNDERWATER VEHICLE Market: Report Scope
The report on the unmanned underwater vehicle market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
Base Year for Market Calculation |
2020 |
Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) |
Segments Included |
Type, Application, and Region |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Unmanned Underwater Vehicle Market, by Type
Unmanned Underwater Vehicle Market, by Application
Unmanned Underwater Vehicle Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE Unmanned Underwater Vehicle MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY