Unmanned Underwater Vehicles Market Set for Rapid Growth by 2024

Global Unmanned Underwater Vehicles Market: Overview

Raw material suppliers, manufacturers, distributors, and end users compose the ecosystem of the unmanned underwater vehicles market. Among the chief end-users, the military and homeland sector, defense and commercial sector are included. The unmanned underwater vehicles market comprises of autonomous underwater vehicles and remotely operated vehicles. There is a great demand for ROV and AUV in the market for a variety of tasks and operations in commercial as well as military sectors. Commercial use of ROV includes offshore drilling, seabed mapping, and pipeline inspection. AUV has defense requirements such as undersea surveillance purposes, anti-submarine warfare, and mine countermeasure. There is steady growth in the market globally for unmanned underwater vehicles.

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Global Unmanned Underwater Vehicles Market: Segmentation

There are two types of unmanned underwater vehicles: remotely operated vehicles and the autonomous underwater vehicles. Hence, the global unmanned underwater vehicles are globally segmented according to the AUVs and ROVs application, payload, propulsion type, product type, and regions. On the basis of the application, the global market is segregated into defense, commercial, scientific research and miscellaneous. Based on the payload, the global market is categorized into synthetic aperture sonar, camera, lighting system, sensors, INS, video screen, and others. The propulsion system of the global unmanned underwater vehicles market is segregated into electric system, hybrid system, mechanical system and others. The product type of ROV is classified into a small vehicle, work-class vehicle, high capacity electric vehicle and heavy work class. The product type of AUV is classified into man-portable, HWV, LWV and large vehicle. Depending on the regions the global unmanned underwater vehicles market is diversified into North America, the Middle East and Africa, Asia-Pacific, Latin America and Europe.

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Global Unmanned Underwater Vehicles Market: Growth Factors

The global unmanned underwater vehicles market is a growing market. This growth can be attributed to factors such as increasing demand in defense and energy sector, increasing investments made for research and development, importance given to new product development, advancements made in technology, rising need for efficient, advanced and reliable unmanned underwater vehicles and increasing demand for unmanned underwater vehicles for deep-water offshore oil and gas production. There is a rise in the demand for ROV and AUV globally for the military as well as commercial uses. Increased operational efficiency of the ROV to perform complex operations will benefit the market growth. Contributing towards the growth of the market is the miniaturization in AUV and the emergence of air-independent propulsion systems (AIP). However, growth may be affected due to economic crisis and defense budget cuts.

Global Unmanned Underwater Vehicles Market: Regional Analysis

North America dominates the unmanned underwater vehicles owing to reasons such as technological advancements, more offshore discoveries for deep-water extraction and growing incidences of terrorism in the region. Countries contributing towards this growth are the U.S. and Canada. However, in the coming period, the growth rate in North America is expected to slow down. Following the growth in North America are Asia-Pacific, Latin America, and Africa. In Asia Pacific, the growth is primarily concentrated in countries such as China, India, New Zealand and Japan. Growth in Africa can be attributed to the oil and gas exploration programs undertaken in countries such as South Africa and Nigeria and Angola. A significant share is also provided by the European regions, especially from Norway.

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Global Unmanned Underwater Vehicles Market: Competitive Players

Some of the major companies in the unmanned underwater vehicles market are Subsea 7, Teledyne Technologies, Oceaneering International Inc., Kongsberg Maritime, Fugro, SAAB, Atlas Elekronik and Bluefin Robotics.

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