Unmanned Underwater Vehicles Market: Future market projections for forthcoming years

“The ongoing expansion in the oil and gas industry across the world is the main factor behind the significant growth of the global market for unmanned underwater vehicles,” says a TMR analyst. The increasing number of deep-water offshore activities for the production of oil and gas and the rise in offshore construction has fueled the uptake of unmanned underwater vehicles considerably. Apart from this, the market is also gaining substantially from the increasing threats on maritime security. The recent surge in the sea-based terrorism and illegal activities has compelled various government and private organizations to include unmanned underwater vehicles in their security systems. As the governments across the world are investing heavily in the production of advanced vehicles, this market is projected to continue witnessing high growth over the forthcoming years.

View Full Report TOC, Figures and Tables: https://www.transparencymarketresearch.com/unmanned-underwater-vehicle-market.html

According to TMR, the global market for unmanned underwater vehicles is expected to reach a value of US$2.4 bn by 2017. Analysts estimate the opportunity in this market to rise further at a CAGR of 11.80% between 2017 and 2022 and increase to US$4.26 bn by the end of the forecast period. All these figures point towards a thriving future of this market. However, the complexities in operation, and the decline in the military budgets in many countries, including the U.S., may limit the growth of this market over the next few years. Nonetheless, the advent of hybrid remotely operated unmanned underwater vehicles will normalize the impact of these restraints in the years to come, leading to a tremendous growth of this market in the near future, states the research report.

Request to view Sample Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=29006

The report present a comprehensive regional analysis of the worldwide market for unmanned underwater vehicles. As per the study, Asia Pacific excluding Japan (APEJ), North America, Europe, the Middle East and Africa (MEA), Latin America, and Japan are the key regional segments of the global market. Of these, North America has surfaced as the market leader and is anticipated to remain dominant over the period of the forecast. The early adoption of technology and the increase in oil and gas drilling activities are likely to boost the North America market for unmanned underwater vehicles, impelling it to rise as a healthy CAGR of 11.40% during the forecast period, notes the study.

Request to Download Brochure of the Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=29006

The rivalry between Subsea 7, Kongsberg Maritime, and Oceaneering International Inc., and Teledyne Gavia ehf characterizes the competitive landscape of the global unmanned underwater vehicles market, states a new study by Transparency Market Research (TMR). These companies primarily compete in terms of new product launches. Long-term contracts are also among favored strategies for business expansion among the leading players. Over the next few years, participants in this market are expected to focus on improving their product portfolios to strengthen their presence across the global market. Innovation and technological advancements of existing products are likely to be preferred among these players, reports the research study.

Global Unmanned Underwater Vehicles Market Report is available @ US$ 5795 : http://www.transparencymarketresearch.com/checkout.php?rep_id=29006<ype=S

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Contact us:

Transparency Market Research
90 State Street,
Suite 700,
Albany
NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/

This release was published on openPR.