Global Manned Underwater Vehicles Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Manned Underwater Vehicles Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A manned underwater vehicle is a machine that can load humans into the water, allowing people to watch underwater, and can also be used for related research.

Market Overview:

The latest research study on the global Manned Underwater Vehicles market finds that the global Manned Underwater Vehicles market reached a value of USD 176.41 million in 2022. It’s expected that the market will achieve USD 252.8 million by 2028, exhibiting a CAGR of 6.18% during the forecast period.

Market Drivers

Driven by strong market demand and technological upgrading, the manned underwater vehicle industry will continue to maintain its growth momentum. In recent years, with the increase of activities in the luxury yacht industry, government scientific research and other fields, these downstream industries of manned underwater vehicles will all have a substantial growth. The popularity of tourist submersibles in popular attractions and luxury cruise ships has promoted the development of the market.

Challenges

An unmanned underwater vehicle is an intelligent device that mainly uses a submarine or surface ship as a supporting platform, and can autonomously recover under water for a long time. With the help of the mother platform, it can be equipped with various sensors, special equipment or weapon modules, and perform specific tasks. Nowadays, UUV has autonomy, flexibility and versatility. It has been used more and more widely in underwater battlefield reconnaissance/surveillance, intelligence collection, early warning detection, communication relay, environmental investigation, payload preset, underwater Voice confrontation, target perception and recognition, mine hunting, mine clearance, tracking and strike, and logistics support will play an increasingly important role in future naval battles. With the further maturity of technology, UUV has been widely used in the commercial field. With the help of mature commercial technology, the cost of UUV has been greatly reduced. The development of unmanned underwater vehicles and the increase in application fields have become a challenge for the market.

Opportunities

Globally, there have been no fatal accidents in the field of manned underwater vehicles for more than 40 years, which fully proves the safety of the industry. With the increasing investment in research and development, various types of underwater vehicles have more and more diving depths, larger voyages, and more and more diversified functions, which have promoted the development of the market. The manned underwater vehicle industry also benefits from the application of lithium batteries in the ship and offshore industry, as well as the development of navigation and communication technologies.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview

The top three companies are Lockheed Martin, U-Boat Worx, Mobimar with the revenue market share of 18.19%, 13.85% and 6.95% in 2020.

U-Boat Worx is a Dutch submersible manufacturer. U-Boat Worx provides manned submersibles for exploration, research, yachting and tourism applications.

Lockheed Martin Corporation is a global security company that primarily researches, designs, develops, manufactures, and integrates advanced technology products and services. The Company businesses span space, telecommunications, electronics, information and services, aeronautics, energy, and systems integration. Lockheed Martin operates worldwide.

Segmentation Overview:

Among different product types, Submersible segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Military segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Manned Underwater Vehicles market covered in Chapter 3:

DeepFlight
Mobimar
Triton Submarines LLC
International Venturecraft
Msubs
ICTINEU Submarins
U-Boat Worx
Lockheed Martin
EDBOE RAS
SEAmagine Hydrospace Corporation

In Chapter 4 and Chapter 14.2, on the basis of types, the Manned Underwater Vehicles market from 2018 to 2029 is primarily split into:

Submarine
Submersible

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Manned Underwater Vehicles market from 2018 to 2029 covers:

Tourist
Research
Military

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)