Hope Tribune

Unmanned Underwater Vehicles Market Trends, Business Strategies, Regional Outlook and Forecasts 2030

 Breaking News
  • No posts were found

Unmanned Underwater Vehicles Market Trends, Business Strategies, Regional Outlook and Forecasts 2030

October 12
22:08 2021
Unmanned Underwater Vehicles Market Trends, Business Strategies, Regional Outlook and Forecasts 2030
North America was the largest contributor to the unmanned underwater vehicles market in 2020. This can be mainly ascribed to the early adoption of advanced technologies and rising defense budget, especially in the U.S. Besides, the growing adoption of UUVs by naval forces for maritime defense and surveillance purposes is a major factor helping the UUVs market advance in the region.

The surging defense expenditure of countries and burgeoning demand for seafloor mapping data will drive the unmanned underwater vehicles market growth during the forecast period (2021–2030). According to P&S Intelligence, the market generated a revenue of ~$4 billion in 2020. Moreover, the rising advancements in underwater inspection techniques and soaring demand for maritime security will facilitate the market growth in the foreseeable future. Currently, the market players are undertaking several creative approaches to augment the effectiveness of UUVs.

The mounting defense expenditure is one of the primary growth drivers for the market. UUVs play an important role in naval warfare as they provide significant clandestine and standoff capabilities and can intelligently adapt to the changes in tactical situations. The onboard systems of UUVs can adapt to the mission plan and identify changes without requiring human assistance. Owing to the benefits offered by UUVs, the navy and other departments of defense of various countries are partnering with private companies to conduct research and development (R&D) for developing next-generation UUVs.

Get the sample pages of this report at: https://www.psmarketresearch.com/market-analysis/unmanned-underwater-vehicles-uuv-market/report-sample

In recent years, the surging introduction of technologically advanced UUVs has become a prominent trend in the UUVs market. Over the years, battery technology, sensor fusion, propulsion systems, and underwater communication solutions have undergone technological advancements, which has resulted in the development of advanced UUVs. For instance, Hugin, an underwater vehicle developed by Kongsberg Gruppen ASA, can operate for up 100 hours, owing to its advanced battery technology. The operators of such underwater vehicles remain on the ground.

At present, the UUVs market is consolidated in nature, with the presence of few players such as Teledyne Technologies Inc., Lockheed Martin Corporation, Subsea 7 S.A., Saab AB, Oceanserver Technology Inc., Kongsberg Gruppen, Oceaneering International Inc., The Boeing Company, and Fugro. These market players are entering into partnerships to gain a competitive edge. For instance, in December 2019, Saab AB won a contract from the Swedish Defence Materiel Administration (FMV) for the development of a new self-propelled naval mine, which is based on autonomous underwater vehicle technology.

The type segment of the UUVs market is divided into autonomous underwater vehicle (AUV) and remotely operated vehicle (ROV). Under this segment, the AUV category is expected to demonstrate the faster growth during the forecast period. This can be attributed to the extensive use of AUV platforms in the oil and gas sector to make detailed maps of the seafloor before constructing the subsea infrastructure, which reduces the cost of installing pipelines. Furthermore, the usage of this platform also minimizes environmental degradation.

Browse report with detailed COVID-19 impact analysis on Unmanned Underwater Vehicles Market Size and Growth Forecast to 2030

Geographically, North America accounted for the largest share in the UUVs market in 2020, due to the early adoption of advanced technologies and huge defense budget, especially in the U.S. Besides, the increasing adoption of UUVs by naval forces for maritime surveillance and defense purposes in the U.S. will result in the development of next-generation UUVs in the region in the coming years. These underwater vehicles are also used for harbor and port security, mine hunting, and detection and disposal of explosives.

Thus, the growing defense budgets and escalating focus on maritime security will support the market growth during the forecast period.

UUVs Market Size Breakdown by Segments

By Type

  • Remotely Operated Vehicle (ROV)
  • Autonomous Underwater Vehicle (AUV)

By Propulsion Type

  • Electric
  • Non-Electric

By Application

  • Commercial
  • Defense
  • Scientific Research

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific (APAC)
    • Japan
    • China
    • India
    • Australia
    • South Korea
  • Latin America (LATAM)
    •  Brazil
    • Mexico
  • Middle East and Africa (MEA)
    •  Saudi Arabia
    • South Africa

Market Segment Analysis of Countries

  • Further breakdown of 16 listed countries will be provided as per below segmentation:
    • By type
    • By propulsion type
    • By application

Browse Other Related Reports

Unmanned Ground Vehicles Market – Globally, North America will account for the largest share in the unmanned ground vehicles market during the forecast period, with the U.S. contributing the highest revenue to the regional market. The presence of the world’s leading manufacturers, users, and exporters of unmanned military systems in the U.S. contribute to the growth of the market in the region.

Electric Off-Highway Vehicles Market – Across the globe, North America is predicted to hold the largest share in the electric off-highway vehicles market till 2030. This is attributed to the implementation of environmental protection initiatives for controlling the carbon footprint and reducing the emissions generated from the construction industry in the region.

Media Contact
Company Name: P&S Intelligence
Contact Person: Abhishek
Email: Send Email
Phone: +918887787886
Address:Noida Sector 2
City: Noida
State: UP
Country: India
Website: https://www.psmarketresearch.com/market-analysis/unmanned-underwater-vehicles-uuv-market