Unmanned Underwater Vehicles Market is estimated to be US$ 11.16 billion by 2030 with a CAGR of 16.50% during the forecast period-By PMI
Prophecy Market Insights latest research report on the Unmanned Underwater Vehicles Market provides a comprehensive analysis of the current market scenario, growth opportunities, challenges, and emerging trends. The report offers insights into the market’s size and share, key market players, distribution channels, and consumer preferences. It also examines the impact of the COVID-19 pandemic on the market and provides a detailed analysis of the competitive landscape, including strategic alliances, mergers, and acquisitions.
Covina, Oct. 27, 2023 (GLOBE NEWSWIRE) — Unmanned Underwater Vehicles (UUVs), often referred to as underwater drones or autonomous underwater vehicles (AUVs), are remotely operated or autonomous vehicles designed to operate underwater without a human presence on board. These vehicles serve a wide range of purposes, including scientific research, defense and security, commercial applications, and environmental monitoring.
UUVs are used for pipeline inspection, marine resource management, and archaeological site research in a variety of industries, including offshore oil and gas, fisheries, and underwater archaeology. The potential for cost savings and increased efficiency in these sectors is driving unmanned underwater vehicles market growth.
Key Highlights –
- In July 2023, Garden Reach Shipbuilders and Engineers (GRSE) launched autonomous underwater vehicle in Kolkata. Armed forces deploy this lightweight autonomous underwater vehicle (AUV) for mine countermeasure missions. The 2.15-meter-long man-portable AUV was created by the Kolkata-based Defense PSU GRSE LTD in partnership with M/s Aerospace Engineering Private Ltd. (AEPL) in Tamil Nadu. It can operate at depths of up to 300m and has a nearly 4-hour endurance.
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Competitive Landscape & their strategies of Global Unmanned Underwater Vehicles Market:
The key players operating in the global unmanned underwater vehicles market includes SAAB Seaeye, Kongsberg Gruppen, Lockheed Martin Corporation, Oceaneering International Inc, Teledyne Technologies, Atlas Elektronik, International Submarine Engineering, Bluefin Robotics, Boston Engineering Corporation, and BAE Systems. Several strategic initiatives including portfolio expansions through novel product launches have been adopted by key players to maintain their presence in the market for unmanned underwater vehicles. For instance, In October 2016, Oceaneering International, Inc. announced the expansion of AUV operations in the West Africa region to support its existing and new customers
Key Market Insights from the report:
Unmanned Underwater Vehicles Market accounted for US$ 2.45 billion in 2020 and is estimated to be US$ 11.16 billion by 2030 and is anticipated to register a CAGR of 16.50%. The global unmanned underwater vehicles market is segmented based on type, product, application, and region.
- Based on Type, Global Unmanned Underwater Vehicles Market is segmented into remotely operated vehicle (ROV) and autonomous underwater vehicle (AUV).
- Based on Product, Global Unmanned Underwater Vehicles Market is segmented into vehicles, high-capacity electric vehicles, work class vehicles, heavy work class vehicles, man portable, light weight vehicles, and heavy weight vehicles.
- Based on Application, Global Unmanned Underwater Vehicles Market is segmented into commercial exploration, defense, scientific research, and miscellaneous.
- By Region, the Global Unmanned Underwater Vehicles Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Analyst View –
Due to continuous technological advancements including improved sensor capabilities, increased endurance, and more sophisticated autonomy, the range of applications for UUVs is expanding. This attracts new investment and use cases. Developing nations like China and India, whose marine industries are growing, are investing in UUV technology for a range of uses. This is helping the unmanned underwater vehicles market expand.
Here are some of the key trends in the isophase beacon buoys market:
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