Global Unmanned Underwater Vehicles Market Size study & Forecast, by Type (Remotely Operated Vehicle (ROV), Autonomous Underwater Vehicle (AUV)), By Product Type (Small Vehicle, High-Capacity Electric Vehicle, Work Class Vehicle, Heavy Work Class Vehicle)

Global Unmanned Underwater Vehicles Market Size study & Forecast, by Type (Remotely Operated Vehicle (ROV), Autonomous Underwater Vehicle (AUV)), By Product Type (Small Vehicle, High-Capacity Electric Vehicle, Work Class Vehicle, Heavy Work Class Vehicle), By Propulsion System (Electric System, Mechanical System, Hybrid System), By Application (Commercial Exploration, Scientific Research, Defense, Miscellaneous), By Payload (Camera, Sensors, Inertial Navigation Systems, Others), and Regional Analysis, 2022-2029

Global Unmanned Underwater Vehicles Market is valued at approximately USD 3.02 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 16.0% over the forecast period 2022-2029. Unmanned underwater vehicles (UUVs) are robotic devices that operates autonomously in seawater. UUV is highly adopted for underwater commercial, security, and scientific research as well as for ocean exploration projects. These vehicles are gaining high traction in various applications including navigation, underwater search and survey, maritime surveillance, communication, and others. The flourishing growth of the oil & gas industry, rising concerns over maritime security and naval cross-border threats, coupled with the increasing development of underwater artificial intelligence systems are the primary factors that are propelling the market demand across the globe.

In addition, the increasing deep-water oil & gas production owing to the surge in demand for energy resources is further excels the market expansion. For instance, CNOOC- China based state-owned offshore oil and gas company, has declared a rise in capital spending from USD 12.3 billion to USD 13.7 billion (CNY 85.0 billion to CNY 95.0 billion) during 2020. n the same year, the company planned to drill 227 exploratory wells and collect 3D seismic data covering 27,000 square kilometers. Consequentially, the growing capital expenditure of offshore oil & gas companies is directly associated with the growth of the unmanned underwater vehicles market. Furthermore, the growing use of UUVs for mine disposal & anti-submarine warfare operations, as well as the rising innovations in the innovations in Unmanned underwater vehicles are presenting various lucrative opportunities over the forecasting years. However, the high cost of UUVs and lack of effective communication systems are hindering market growth over the forecast period of 2022-2029.

The key regions considered for the Global Unmanned Underwater Vehicles Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific dominated the market in terms of revenue, owing to the increasing adoption of remotely operated vehicles (ROVs) in commercial and defense sectors, along with the presence of key market players. Whereas, Asia Pacific is also expected to grow at the highest growth rate over the forecasting period. Factors such as the growing investments in the defense sector, as well as the rising contracts with UUV OEMs from different countries are burgeoning the market growth in the forecasting years.

Major market players included in this report are:
Boeing
Fugro
General Dynamics Corporation
International Submarine Engineering
KONGSBERG
L3Harris Technologies, Inc.
Lockheed Martin Corporation
Oceaneering International, Inc.
Saab AB
Teledyne Technologies Incorporated

Recent Developments in the Market:
In 2022, Kongsberg Maritime declared that the company is intended to supply Polish shipbuilder Remontowa Shipbuilding SA (RSB) to three shipsets of Kongsberg HUGIN AUV (Autonomous Underwater Vehicle) systems and associated HiPAP positioning and communication systems for three newbuild warships for the Polish Navy.

In 2022, Boeing announced that the company has received a reward of USD 72.5 million from The US Navy in order to provide a prototype of a very large, unmanned submarine for testing purposes, ahead of five of the same models already in production.

Global Unmanned Underwater Vehicles Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Product Type, Propulsion System, Application, Payload, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Remotely Operated Vehicle (ROV)
Autonomous Underwater Vehicle (AUV)
By Product Type:
Small Vehicle
High-Capacity Electric Vehicle
Work Class Vehicle
Heavy Work Class Vehicle
By Propulsion System:
Electric System
Mechanical System
Hybrid System
By Application:
Commercial Exploration
Scientific Research
Defense
Miscellaneous
By Payload:
Camera
Sensors
Inertial Navigation Systems
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned
Boeing
Fugro
General Dynamics Corporation
International Submarine Engineering
KONGSBERG
L3Harris Technologies, Inc.
Lockheed Martin Corporation
Oceaneering International, Inc.
Saab AB
Teledyne Technologies Incorporated

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