Military Unmanned Underwater Vehicles Market Size, Share Analysis, Trends And Growth 2033

The Business Research Company recently released a comprehensive report on the Global Military Unmanned Underwater Vehicles Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The military unmanned underwater vehicles market size has grown rapidly in recent years. It will grow from $3.6 billion in 2023 to $4.03 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to strategic defense requirements, naval modernization initiatives, maritime border security, underwater mine countermeasures, environmental monitoring.

The military unmanned underwater vehicles market size is expected to see rapid growth in the next few years. It will grow to $6.1 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to expanded mission capabilities, underwater communications development, environmental monitoring and research, expanded role in mine countermeasures, anti-submarine warfare enhancement. Major trends in the forecast period include underwater swarm technology, collaboration and joint ventures, sustainability and environmental considerations, underwater communication enhancement, artificial intelligence and data analytics.

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Market Drivers and Trends:

The increasing terrorism is expected to boost the growth of the military unmanned underwater vehicles market going forward. Terrorism is characterized by acts of violence that endanger others, demonstrating a blatant disregard for the harm inflicted. The rising threat of terrorism in maritime environments is driving the demand for sophisticated security solutions, with military unmanned underwater vehicles emerging as advanced and versatile tools to effectively address these challenges, leading to increased adoption and market growth. For instance, in May 2022, according to a report published by the Center for Strategic and International Studies (CSIS), a US-based non-profit organization, the year 2021 witnessed a 53% increase in terrorist attacks, and 43% of these incidents in domestic terrorism were specifically aimed at the government, armed forces, and notably, law enforcement. White supremacists, anti-government militias, and akin extremist groups were responsible for the majority of attacks and plots in 2021, accounting for 49%. Therefore, the increasing terrorism is driving the growth of the military unmanned underwater vehicles market.

Development in scattered marine operations is a key trend gaining popularity in the military unmanned underwater vehicles market. Any action taken by maritime forces to acquire or seize command is referred to as a maritime operation projecting power from the water. Major companies operating in the military unmanned underwater vehicles are developing scattered marine operations to strengthen their position in the market. For instance, in 2022, according to HII, a US-based shipbuilding company, the US Navy has chosen the REMUS 300 as its next-generation small unmanned undersea vehicle (SUUV). The REMUS 300 technology was intended to aid in the evolution of distributed marine operations by performing critical underwater functions.

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Major Key Players of the Market:

Kongsberg Maritime, Lockheed Martin Corporation, Saab AB, Atlas Elektronik, Teledyne Technologies Incorporated, Boeing, General Dynamics Corporation, Gabri SRL, Eca Group, International Submarine Engineering, L3 Harris Technologies inc, Fugro N.V, Oceaneering International Inc., Blue Robotics Inc., Riptide Autonomous Solutions LLC, Aquabotix Technology Corporation, Deep Ocean Engineering, Eelume AS, Epsilon Systems Solutions, Forum Energy Technologies, Greensea Systems Inc., Hydroid Inc., Kraken Robotics, Ocean Infinity, Planck Aerosystems, Sea Machines Robotics, Sonardyne International Ltd., Subsea 7, Thales Group, The Boeing Company, Gabri SRL, Liquid Robotics

Military Unmanned Underwater Vehicles Market 2024 Key Insights:

• The military unmanned underwater vehicles market size is expected to see rapid growth in the next few years. It will grow to $6.1 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%.
• Defense Budget Surge Fuels Growth In Military Unmanned Underwater Vehicles Market
• Scattered Marine Operations In The Military Unmanned Underwater Vehicles Market
• North America was the largest region in the military unmanned underwater vehicles market share in 2023

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