Unmanned Underwater Vehicles Market Anticipates Reaching $8.14 Billion by 2030 | With a Strong CAGR of 13.5%
The Unmanned Underwater Vehicles Market Covered Major Segments Size, Share, COVID-19 & Russia-Ukraine War Impact Industry Analysis, By UUV Type (ROV, AUV, and HUV), By Sub-System (Propulsion, Drive System, Collision Avoidance, Payloads & Imaging, Communication & Navigation), By Operational Range Type (Large, Medium & Shallow Vehicles), By Application (Search & Salvage Operations, Archeological & Exploration, Oceanography, Environmental & Meteorological Research, Oil & Gas, and Naval & Coastal Defense), By End User (Research Institute, Commercial, Government, Defense/Homeland Security), and Regional Forecast, 2023-2030
Pune, India, Sept. 27, 2023 (GLOBE NEWSWIRE) -- The global unmanned underwater vehicles market size was valued at USD 3.02 billion in 2022 and is expected to be worth USD 3.34 billion in 2023. The market is projected to reach USD 8.14 billion by 2030, recording a CAGR of 13.5% during the forecast period.
Unmanned Underwater Vehicles (UUVs) or underwater drones, as the name suggests, are vehicles that operate underwater with little to no human interference. There are different types of UUVs that are used for different applications, such as Hybrid Underwater Vehicles, Autonomous Underwater Vehicles, and Remotely Operated Underwater Vehicles. UUVs play a vital role in the construction and inspection of underwater oil sites for the offshore oil & gas sector. These factors are expected to bolster the unmanned underwater vehicles market growth.
*Fortune Business Insights™ displays this information in a report titled, "Unmanned Underwater Vehicles Market, 2023-2030."*
*Get a Sample Research PDF:*
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/unmanned-underwater-vehicles-uuv-market-102527
*Leading Players Featured in the Research Report:*
“Companies leading the Unmanned Underwater Vehicles Market are Boeing Company (U.S.), Teledyne Technologies Inc. (U.S.), L3 Harris Technologies Inc. (U.S.), Lockheed Martin Corporation (U.S.), Oceaneering International Inc. (U.S.), SAAB AB (Sweden), Fugro (Finland), General Dynamics Corporation (U.S.), International Submarine Engineering (Canada), Kongsberg Gruppen (Norway).”
**Report Scope & Segmentation:**
*Report Coverage* *Details*
Forecast Period 2023-2030
Forecast CAGR 13.5%
2030 Value Projection USD 8.14 Billion
Market Size in 2023 USD 3.34 Billion
Historical Data 2019-2021
No. of Pages 200
Report Coverage Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Segments Covered · By Type
· By Product
· By Application
· Propulsion System
Regions Covered · North America
· Europe
· Asia Pacific
· Latin America
· Middle East and Africa
Unmanned Underwater Vehicles Market Growth Drivers Growing Concerns about Maritime Security and Cross-Border Maritime Threats to Drive Market Growth
Rising Oil & Gas Production in Deep Ocean to Propel Market Growth
*Browse Detailed Summary of Research Report with TOC:*
https://www.fortunebusinessinsights.com/unmanned-underwater-vehicles-uuv-market-102527
*COVID-19 Impact:*
*Unexpected Challenges Faced by Oil & Gas Sector Negatively Affected Market Growth During COVID-19*
The COVID-19 pandemic had a negative impact on the oil & gas industry as there was a notable decline in the demand for oil & gas products in many nations. This factor had a severe effect on the demand for UUVs and operations of the gas sector. These disruptions affected the shipping network, supply chain, ports, and cargo volumes as business operations reduced during this period. These aspects had a negative influence on the market progress.
*Russia-Ukraine War Impact:*
*Demand for UUVs Increased During War*
The ongoing Russia-Ukraine war has dramatically increased the demand for technologically advanced weapons including unmanned underwater vehicles. The Russian Navy possesses immense naval power, with many of its submarines and underwater weapons installed in the Black Sea. These weapons can give Russia a major advantage in the war. The growing demand for these submarines is predicted to fuel the market growth.
*Get a Quote Now:*
https://www.fortunebusinessinsights.com/enquiry/get-a-quote/unmanned-underwater-vehicles-uuv-market-102527
*Segmentation:*
*Autonomous Underwater Vehicles to be Widely Used for Their Immense Potential in Underwater Operations*
Based on UUV type, the market is segmented into Remotely Operating Vehicles (ROV), Autonomous Underwater Vehicles (AUVs), and Hybrid Underwater Vehicles (HUV). The autonomous underwater vehicle segment accounted for the largest unmanned underwater vehicles market share as these vehicles have showcased immense potential in a wide range of underwater operations.
*Wide Usage of UUVs in Naval & Defense Applications to Augment Their Sales*
In terms of application, the market is segmented into search & salvage operations, archeological & exploration, oceanography, environmental & meteorological research, and oil & gas and naval & coastal defense. The naval & coastal defense application segment held a dominant market position due to growing use of UUVs in defense applications, such as mine detection, clearance & anti-submarine warfare, and undersea reconnaissance.
*Communication & Navigation Sub-Systems to Gain Traction With Widespread Use of UUVs*
In terms of sub-system, the market is segmented into propulsion, drive system, collision avoidance, payloads & imaging, and communication & navigation. The communication & navigation segment is anticipated to capture the largest share in the market as these sub-systems can help UUVs communicate better with each other when used in a wide range of sectors, such as scientific research, military & defense, and oil & gas.
*Customers’ Rising Purchasing Power to Boost Demand for Large Vehicles*
Based on operational range type, the market is divided into large vehicles (depth more than 1000m), medium vehicles (100m to 1000m), and shallow vehicles (depth up to 100m). The large vehicle segment holds the largest market share as customers are witnessing a strong rise in their purchasing power; these vehicles can also perform various operations in the bottom zones of water.
*Commercial Sector to Increase Reliance on UUVs to Conduct Deepwater Operations*
Based on end user, the market is divided into research institutes, commercial, government, defense/homeland security, and others. The commercial segment holds the largest market share as the demand for UUVs is rising to carry out various deep-water operations, such as seafloor surveying & mapping, offshore drilling, and pipeline inspection.
With respect to region, the market covers North America, Europe, Asia Pacific, and Rest of the World.
*Report Coverage:*
The market report analyzes the market in detail and focuses on key aspects, such as the market’s competitive landscape, major product types, technological advancements, market players. The report also reviews the current market trends and highlights key industry developments. Apart from the abovementioned factors, it analyzes the factors influencing the market’s growth during the forecast period.
*Ask for Customization:*
https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/unmanned-underwater-vehicles-uuv-market-102527
*Detailed Table of Content:*
· *Introduction*
· Research Scope
· Market Segmentation
· Research Methodology
· Definitions and Assumptions
· *Executive Summary*
· *Market Dynamics*
· Market Drivers
· Market Restraints
· Market Opportunities
· Market Trends
· *Key Insights*
· Key Industry Developments - Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
· Latest Technological Advancements
· Porters Five Forces Analysis
· Supply Chain Analysis
· Qualitative Insights - Impact of COVID-19 Pandemic on Global Unmanned Underwater Vehicles Market
· Qualitative Insights - Impact of Russia-Ukraine War on Global Unmanned Underwater Vehicles Market
· *Global Unmanned Underwater Vehicles Market Analysis, Insights and Forecast, 2019-2030*
· 5.1 Key Findings / Definition
· Market Analysis, Insights and Forecast - By UUV Type
· Remotely Operated Vehicles (ROV)
· Autonomous Underwater Vehicles (AUV)
· Hybrid Underwater Vehicles (HUV)
· Market Analysis, Insights and Forecast - By Sub-System
· Propulsion
· Drive System
· Collision Avoidance
· Payloads & Imaging
· Communication & Navigation
· Market Analysis, Insights and Forecast - By Operational Range Type
· Large Vehicles (Depth More Than 1000M)
· Medium Vehicles (100M to 1000M)
· Shallow Vehicles (Depth Upto 100M)
· Market Analysis, Insights and Forecast - By Application
· Search & Salvage Operations
· Archeological & Exploration
· Oceanography
· Environmental & Meteorological Research
· Oil & Gas
· Naval & Coastal Defense
· Market Analysis, Insights and Forecast - By End User
· Research Institute
· Commercial
· Government
· Defense / Homeland Security
· Others
· Market Analysis, Insights and Forecast - By Region
· North America
· Europe
· Asia Pacific
· Rest of the World
*TOC Continued...!*
*Drivers and Restraints:*
*Rising Maritime Security Concerns to Augment Market Growth*
Some of the major problems that threaten to hinder the operations of the shipping industry include maritime terrorism and piracy. These threats can not only endanger human lives, but also cause significant financial losses. Moreover, maritime security is increasingly getting compromised due to the rising incidence of drug smuggling at sea, as well as migrant smuggling. UUVs can be helpful in such cases as they can enhance maritime security by eliminating such threats.
However, high maintenance and operating costs associated with UUVs can hinder the market’s growth.
*Speak to Our Expert:*
https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/unmanned-underwater-vehicles-uuv-market-102527
*Regional Insights:*
*North America to Dominate Global Market With Growing Use of Remotely Operated Vehicles*
North America accounted for the largest share in the global market and may continue to maintain its position in the future as the region is increasing its use of remotely operated vehicles in the defense and commercial sectors. The rising adoption of these vehicles for underwater exploration will also fuel the regional market growth.
Asia Pacific market is also anticipated to grow considerably due to the regional governments’ rising investments in the defense sector.
*Competitive Landscape:*
*Key Players Focusing on Offering Innovative UUVs*
The market’s landscape is quite consolidated with the presence of leading companies, such as Lockheed Martin Corporation, L3 Harris Technologies Inc., Teledyne Technologies Incorporated, and Oceaneering International, Inc. These companies are focusing on introducing technologically advanced UUVs to support the defense sector of different countries.
*Notable Industry Development:*
*July 2021: *The Indian Navy announced the development of the use of unmanned underwater vehicles. L&T was creating a number of Autonomous Underwater Vehicles (AUVs) in partnership with Italy's EdgeLab. L&T showcased the AUVs Amogh, Adamya and Maya at the DefExpo2020.
*Read Related Insights:*
Unmanned Ground Vehicles Market to Worth USD 5.26 Bn by 2030 | Fortune Business Insights™
With 15.09% CAGR, Unmanned Helicopter Market Size Worth USD 15.12 Billion by 2029 | Fortune Business Insights™
*About Us:*
*Fortune Business Insights™* delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
*Address:*
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower, Baner,
Mahalunge Road, Baner, Pune - 411045,
Maharashtra, India.
*Phone:*
*US*: +1 424 253 0390
*UK*: +44 2071 939123
*APAC*: +91 744 740 1245
*Email*: sales@fortunebusinessinsights.com
*Follow Us: *LinkedIn | Facebook | Twitter
*Attachment*
· Unmanned Underwater Vehicles Market