The Unmanned Underwater Vehicles (UUV) Market Size was valued at USD 4.12 billion in 2023 and is expected to reach USD 13.29 billion by 2031 with an emerging CAGR of 15.8% over the forecast period 2024-2031.
Automated Submerged Vehicles are otherwise called submerged drones, are any submarine vehicles that can work submerged without human mediation. Automated Submerged Vehicles are partitioned into two sections like remotely worked submerged vehicles and independent submerged vehicles. Remotely worked submerged vehicles remotely are constrained by an individual and independent submerged vehicles are worked without human mediation. Automated Submerged Vehicles are helpful for submerged development and examination in the seaward oil and gas businesses.
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Progressions in UUV advancements, let’s say higher goal cameras, better controller arms, and more delicate sonar have decreased the time expected to find and assess things. UUV can examine the most profound water under the designs and proposition information that empowers the development business in manners at no other time. the Bluey Trailblazer is furnished with strong Drove lights, a superior quality fixed camera, and four engines that slice through low perceivability water with light-footed preparing, simple activity, and low vehicle support. UUV's can offer capacities in numerous areas especially in the readiness of battlespace notwithstanding region refusal dangers. There are a few advantages of UUV, let’s say more affordable to work, further develop efficiency, simple support, and increments exactness.
The worldwide unmanned underwater vehicle market is likely to expand as the number of naval applications for safety and security increases. Furthermore, a surge in the number of offshore oil and gas operations is likely to boost market expansion in the future. Increased monitoring activities for security, stricter restrictions, and increased government funding all contribute to the expansion of the unmanned underwater vehicles market. However, the economic crisis and defence budget cuts may have a negative impact on the unmanned underwater vehicle business.
MARKET DYNAMICS
KEY DRIVERS
Rising capital expenditure
Deep water oil & gas production rising
RESTRAINTS
High cost of AUV’s
Communication system failure
OPPORTUNITIES
Development of technology
Long battery life
CHALLENGES
Slow underwater survey speed
Deepwater pressures are really high.
IMPACT OF COVID-19
The rapid spread of COVID-19 in Europe, the United States, and Asia Pacific has resulted in a significant drop in demand for UUV globally, with a corresponding reduction in revenues for various payload suppliers and service providers across all markets due to late delivery, manufacturing shutdown, limited staff at manufacturing facilities, and limited availability of equipment. According to industry experts, global UUV demand will fully recover by 2022.
The market for unmanned underwater vehicles market is segmented into two parts: autonomous underwater vehicles and remotely operated vehicles. This has the highest CAGR over the forecast period. Autonomous underwater vehicles have shown tremendous promise in underwater activities. These autonomous programmable robots are used for underwater survey missions such as identifying and mapping submerged wrecks, rocks, and impediments. AUVs can operate in difficult-to-reach places and offer precise data since they are outfitted with cutting-edge payloads.
The remotely operated vehicle market has been divided into four applications: commercial exploration, strong defense, scientific research, and others. During the forecast period, the commercial exploration segment of the unmanned underwater vehicle market is predicted to develop the most. ROVs are used for a variety of commercial purposes, including survey and seabed mapping, offshore drilling, pipelining, cabling, and inspection, among others.
The market is divided into Mechanical, Electric, Hybrid, and Others based on Propulsion System. During the forecast period, the electric segment of the global unmanned underwater vehicles market is predicted to develop at the fastest CAGR. This vehicle can function without the use of a complicated support system. During the projection period, the mechanical segment is also predicted to increase at a rapid pace.
The market is divided into small vehicles, work-class vehicles, high-capacity electric cars and many more. Because of rising consumer purchasing power and increased use in applications for observing water column features, monitoring, and benthic zones, tiny vehicles dominated the market.
By Product Vehicles
High-capacity Electric Vehicles
Work Class Vehicles
Heavy Work Class Vehicles
Man portable
Light Weight Vehicles
Heavy Weight Vehicles
By Application
Commercial Exploration
Defense
Scientific Research
Miscellaneous
By Type
Remotely Operated Vehicle
By Propulsion System
Mechanical
Electric
Hybrid
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REGIONAL ANALYSIS
North America is expected to be the greatest market for unmanned underwater vehicles. The United States is the largest developer around the world, exporter operator, and user of UUVs, which is likely to drive market projection in North America. Thus, the increasing applicability of ROVs in the defence and commercial sectors is expected to boost the expansion of the North American remotely operated vehicle market. The primary driver of the North American autonomous underwater vehicles market is the rising usage of autonomous underwater vehicles for deep water surveys for the oil and gas industry that would otherwise be costly.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Major Players are SAAB Seaeye, International Submarine Engineering, BAE Systems, Bluefin Robotics, Boston Engineering Corporation, Teledyne Technologies, Atlas Elektronik, Kongsberg Gruppen, Lockheed Martin Corporation, Oceaneering International Inc. and Other Players
Bluefin Robotics-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 4.12 Billion |
| Market Size by 2031 | US$ 13.29 Billion |
| CAGR | CAGR of 15.8% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product Vehicles (High-capacity Electric Vehicles, Work Class Vehicles, Heavy Work Class Vehicles, Man portable, Light Weight Vehicles, and Heavy Weight Vehicles) • By Application (Commercial Exploration, Defense, Scientific Research, and Miscellaneous) • By Type (Remotely Operated Vehicle and Autonomous Underwater Vehicle) • By Propulsion System (Mechanical, Electric & hybrid) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | SAAB Seaeye, International Submarine Engineering, BAE Systems, Bluefin Robotics, Boston Engineering Corporation, Teledyne Technologies, Atlas Elektronik, Kongsberg Gruppen, Lockheed Martin Corporation, Oceaneering International Inc. |
| DRIVERS | • Rising capital expenditure • Deep water oil & gas production rising |
| RESTRAINTS | • High cost of AUV’s • Communication system failure |
The market size of the Unmanned Underwater Vehicles Market is expected to reach USD 13.29 billion by 2031.
The growth rate of the Unmanned Underwater Vehicles Market is 15.8% during the forecast period.
SAAB Seaeye, International Submarine Engineering, BAE Systems, Bluefin Robotics, Boston Engineering Corporation, Teledyne Technologies, Atlas Elektronik, Kongsberg Gruppen, Lockheed Martin Corporation, and Oceaneering International Inc. are leading players in the Unmanned Underwater Vehicles Market.
Unmanned Underwater Vehicles Market is segmented into 4 categories: By Types, By Product Vehicles, By Propulsion System, and By Application.
North America region dominated the Unmanned Underwater Vehicles Market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Unmanned Underwater Vehicles Market Segmentation, By Product Vehicles
8.1 High-capacity Electric Vehicles
8.2 Work Class Vehicles
8.3 Heavy Work Class Vehicles
8.4 Man portable
8.5 Light Weight Vehicles
8.6 Heavy Weight Vehicles
9. Unmanned Underwater Vehicles Market Segmentation, By Application
9.1 Commercial Exploration
9.2 Defense
9.3 Scientific Research
9.4 Miscellaneous
10. Unmanned Underwater Vehicles Market Segmentation, By Type
10.1 Remotely Operated Vehicle
10.2 Autonomous Underwater Vehicle
11. Unmanned Underwater Vehicles Market Segmentation, By Propulsion System
11.1 Mechanical
11.2 Electric
11.3 Hybrid
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profiles
13.1 International Submarine Engineering
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Bluefin Robotics
13.3 Boston Engineering Corporation
13.4 BAE Systems.
13.5 SAAB Seaeye
13.6 Kongsberg Gruppen
13.7 Lockheed Martin Corporation
13.8 Oceaneering International Inc.
13.9 Teledyne Technologies
13.10 Atlas Elektronik
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
15. Conclusion
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