DUBLIN--(BUSINESS WIRE)--The "Global Unmanned Underwater Vehicle Market Outlook: Global Opportunity and Demand Analysis, Market Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
Unmanned underwater vehicles are anticipated to make inroads in the global underwater vehicle industry at a value CAGR of 14.91% over 2020-2028. It is anticipated to reach approximately USD 7.64 billion, which was around USD 2.92 billion in 2019.
Expanding utilization of unmanned underwater vehicles for sea security and observation in maritime powers, expanding military, financial plan in creating nations, expanding request for UUVs in the oil and gas division for doing reviews at extraordinary profundities and the developing utilization of unmanned underwater vehicles for mapping the seafloor and examining oceanography are some of the factors expected to drive the development of the worldwide unmanned underwater vehicle showcase sooner rather than later.
Robust Demand for deep-water offshore oil & gas production
Interest in oil and gas has developed as of late, expanding by 31% since 2000. This interest, principally determined by the creating scene, is sufficient conjecture to proceed as oil is an essential vitality for significant ventures, for example, transportation, and can't be effectively subbed by elective vitality sources.
Be that as it may, with the gracefully of oil and gas from regular assets declining, the center has moved to deep water off-shore oil and gas production, which, thus, made a significant interest for ROVs for penetrating help, knowledge, and fix and support exercises in the subsea market.
Besides, developing utilization of unmanned underwater vehicles for mapping the sea depths and contemplating oceanography are factors expected to drive the development of the global unmanned underwater vehicle showcase soon.
Autonomous Underwater Vehicle (AUV) to Make Crucial Contribution to Growth of Global Unmanned Underwater Vehicle Market
The development of the market can be ascribed to the rising number of profound water seaward oil and gas creation exercises and expanding oceanic security dangers. For AUVs, the development is predominantly attributed to the expanding use of AUVs in guard tasks and profound water study. The Autonomous Underwater Vehicle Market is expected to grow from USD 916 million to USD 2,698.9 million at a CAGR of 24.13% from 2019 to 2028. Teledyne Technologies Inc.'s product AUV is performing monitoring or surveillance tasks.
Other segments by the application are Defense, Commercial Exploration, Miscellaneous and Scientific Research. By type are Autonomous Underwater Vehicles (AUV) and Remotely Operated Underwater Vehicles (ROV). By payload are Lighting Systems, Cameras, Sensors, Synthetic Aperture Sonar, Video Screens, and Inertial Navigation Systems (INS).
Rising Investments in Unmanned Underwater Vehicles and Research to Benefit the North American Market
The North American region is anticipated to grow by a high percentage compared with other regions. As they are adopting advanced technology, their spending on the military is increasing. They are doing offshore drilling activities, which are also a factor in the growth of their region. The market in the Middle East and Africa is relied upon to enlist worthwhile development as far as income, sooner rather than later, from developing oil and gas investigation exercises in this district.
Players to Focus on in the Expanding Applications in Global Unmanned Underwater Vehicle
The global unmanned underwater vehicle market is expected to stay fragmented with the increase in the number of new entrants in the coming years. Teledyne Technologies Inc. and Lockheed Martin Corporation, among others, could be at the forefront of the competition in the global unmanned underwater vehicle market.
Teledyne Technologies, Inc.: Teledyne Gavia gives turnkey overview answers for military, business, and logical applications. The Gavia AUV conveys a variety of sensors and custom payload modules, making it ideal for observing or surveillance assignments where self-sufficiency, cost, and simplicity of arrangement matter. Its particular plan considers fast sensor reconfiguration and battery substitution.
Lockheed Martin Corporation: Lockheed Martin is progressing subsea assessments for the oil and gas industry by utilizing Marlin to give quicker, more secure, affordable, and increasingly productive reviews compared with utilizing jumpers and fastened remotely worked vehicles. Furnished with sensors and vigorous independence, Marlin conducts auxiliary reviews, pipeline investigations, base trash overviews, and subsea office assessments.
The 10-foot-long submarine is profoundly flexible and ready to work in restricted spaces, run up to four bunches, and voyage for as long as 18 hours. Marlin can perform up to multiple times faster assessments, conveying higher loyalty data in hours versus days.
- Lockheed Martin Corporation
- Kongsberg Gruppen
- Saab Group
- Subsea 7 S.A.
- Oceaneering International, Inc.
- The Boeing Company
- Atlas Elektronik
- Bluefin Robotics
- International Submarine Engineering
- Teledyne Technologies
Scope of the Report
- Autonomous Underwater Vehicle (AUV)
- Remotely Operated Underwater Vehicle (ROV)
By Propulsion System
By Product Type
- Small Vehicles
- High-capacity Electric Vehicles
- Work Class Vehicles
- Heavy Work Class Vehicles
- Man Portable
- Heavy Weight Vehicles
- Large Vehicles
- Commercial Exploration
- Scientific Research
- North America
- Asia Pacific
For more information about this report visit https://www.researchandmarkets.com/r/83l3ip