Global Unmanned Underwater Vehicles Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Unmanned underwater vehicles Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global unmanned underwater vehicles market report has been segmented on the basis of type, payload, application, and region.
Global Unmanned Underwater Vehicles Market: Overview
Unmanned underwater vehicles, also known as underwater drones, are operated underwater without an operator onboard. These vehicles can be categorized in to two types namely, autonomous underwater vehicle and remotely operated underwater vehicle. Autonomous underwater vehicle does not require human input for functioning as it travels underwater without requirement of operator. Remotely operated underwater vehicle is controlled remotely by human operators. Unmanned underwater vehicle is designed with multiple cameras and payload. Availability of various types of unmanned underwater vehicles designed for different applications is making end users more inclined towards its usage.
Global Unmanned Underwater Vehicles Market: Dynamics
Increasing use of unmanned underwater vehicles for maritime security and surveillance in naval forces is a major factor driving growth of the global unmanned underwater vehicles market. In addition, increasing military budget in developing countries is another factor fueling growth of the global market. Increasing demand of UUV in oil & gas sector for carrying out surveys at extreme depths is factor propelling growth of the target market. Furthermore, growing use of unmanned underwater vehicles for mapping the ocean floor and studying oceanography are factors expected to drive growth of the global unmanned underwater vehicles market in the near future.
However, military budget cuts in certain developed countries is a factor that may hamper growth of the global unmanned underwater vehicles market. Nevertheless, increasing investments for development of technologically advanced unmanned underwater vehicles can create high revenue opportunities for players in the target market.
Global Unmanned Underwater Vehicles Market: Segment Analysis
Among the payload segments, the cameras segment is expected to dominate in the global market in terms of revenue over the forecast period. Increasing adoption of high resolution cameras in unmanned underwater vehicles is a key factor supporting growth of this segment in the global market. In addition, the sensors segment is expected to register high growth in terms of revenue in the near future.
Among the application segments, the commercial exploration segment is expected to register significant growth in terms of revenue over the forecast period. Increasing use of unmanned underwater vehicle for sea bed mapping, offshore drilling, and many other activities is a factor supporting growth of this commercial exploration segment in the target market.
Global Unmanned Underwater Vehicles Market: Regional Analysis
Market in North America is estimated to account for major share in terms of revenue, and is anticipated to maintain its dominance over the forecast period. Early adoption of new technologies and increasing military budget, especially in US, are factors driving growth of the target market in this region. In addition, increasing off-shore drilling activities is another factor anticipated to propel growth of the unmanned underwater vehicles market in North America. Market in Middle East and Africa is expected to register lucrative growth in terms of revenue in the near future, owing to growing oil & gas exploration activities in this region.
Global Unmanned Underwater Vehicles Market Segmentation:
Segmentation by Type:
- Autonomous Underwater Vehicle (AUV)
- Remotely Operated Underwater Vehicle (ROV)
Segmentation by Payload:
- Lighting Systems
- Synthetic Aperture Sonar
- Video Screens
- Inertial Navigation Systems (INS)
Segmentation by Application:
- Commercial Exploration
- Scientific Research
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Teledyne Technologies Inc.
- Kongsberg Gruppen ASA
- Saab AB
- Lockheed Martin Corporation
- Oceaneering International, Inc.
- The Boeing Company
- Subsea 7 S.A
- Bluefin Robotics Corporation
- International Submarine Engineering Ltd.
- ATLAS ELEKTRONIK GmbH
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