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Attractive Opportunities in Unmanned Underwater Vehicles Market

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Attractive Opportunities in Unmanned Underwater Vehicles Market

March 06
11:16 2020
The unmanned underwater vehicles market is projected to grow from USD 2.69 billion in 2017 to USD 5.19 billion by 2022, at a CAGR of 14.07% from 2017 to 2022. The growth of the autonomous underwater vehicle market is estimated to have approximately triple growth rate than the remotely operated vehicle market.

AUV market is expected to grow at higher CAGR during the forecast period.

Based on type, the unmanned underwater vehicle market has been segmented into Remotely Operated Vehicle (ROV) and Autonomous Underwater Vehicle (AUV). The growth of the market can be attributed to the rising number of deep-water offshore oil & gas production activities and increasing maritime security threats. For AUV the growth mainly attributed to the increasing usage of AUVs in defense operations and deep water survey for the oil & gas industry.

The commercial exploration segment of the of the Remotely Operated Vehicle (ROV) market is expected to witness the highest growth during the forecast period

Based on application, the remotely operated vehicle (ROV) market has been segmented into commercial exploration, defense, scientific research, and miscellaneous. The commercial exploration segment of the unmanned underwater vehicle market is expected to witness the highest growth during the forecast period. ROVs are used for several commercial applications, such as survey and seabed mapping, offshore drilling, pipelining, cabling, and inspection several others.

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Based on payload, the sensors segment of the unmanned underwater vehicles market is expected to witness the highest growth during the forecast period

The unmanned underwater vehicles market has been segmented and analyzed based on payload into sensors, radars, cameras, lasers, and others. The camera segment is estimated to be the largest segment of the market in 2017, as high-resolution cameras are the most widely used payloads in various applications. The sensors segment is projected to witness the highest growth, due to the increased use of sensors in the defense sector for scanning, detecting, mapping, and remote sensing. Sensors are also used in the commercial sector to measure the concentration of various elements and compounds and detect the presence of microscopic life.

The unmanned underwater vehicles market in Africa is expected to witness high growth during the forecast period.

North America is estimated to account for the largest share of the unmanned underwater vehicles market in 2017, due to the rising incidences of terrorism and increasing offshore drilling activities in the region. The unmanned underwater vehicles market in Africa is expected to witness the highest growth during the forecast period, owing to the rising oil & gas exploration activities undertaken by countries such as South Africa and Nigeria and the increased use of UUVs in anti-submarine warfare to help detect manned submarine in the region.

Oceaneering International (US), Kongsberg Maritime (Norway), Teledyne Technologies, Inc. (US), and Subsea 7 S.A. (UK) are the major players operating in the unmanned underwater vehicle market.

The report segments and analyzes the unmanned underwater vehicles market based on type (remotely operated vehicle, and autonomous underwater vehicle), ROV product type (small vehicles, high-capacity electric vehicles, work class vehicles, and heavy work class vehicles), AUV product type (man-portable vehicles, lightweight vehicles, heavyweight vehicles, and large vehicles), application (commercial exploration, defense, scientific research, and miscellaneous), propulsion (electric systems, mechanical systems, hybrid systems, and others), payload (sensors, lasers, camera, radars, and others) and maps these segments and subsegments across the major regions, namely, North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa.

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