Unmanned underwater vehicle market is expected to grow from US$ US$ 2.64 Bn in 2017 to US$ 3.99 Bn by 2025 at a CAGR of 5.6% between 2018 and 2025.
The development and adoption of modern technological equipment are enabling naval forces and maritime organizations to effectively synchronize air, naval and land components into a single unit. For instance, the US Navy is in the development phase of Large Displacement Unmanned Undersea Vehicle (LDUUV), which is capable of providing intelligence, surveillance, reconnaissance (ISR), mine counter-measures (MCM), anti-submarine warfare (ASW), acoustic surveillance, and offensive operations. In addition, the Defense Advanced Research Projects Agency (DARPA) has undertaken the Hydra venture, which is planned to incorporate advancing, and existing technologies for the improvement of a dispersed system of unmanned vehicles and undersea payloads to supplement the dynamic in-service manned vessels. The system is required to exploit crucial information exchange abilities to counter dangers under the sea surface.
Get sample PDF Copy at: https://www.theinsightpartners.com/sample/TIPTE100001272/
Top ten key players of UUV market include Kongsberg Gruppen, ECA Group, Teledyne Technologies Inc., Lockheed Martin Corporation, Atlas Elektronik GmbH, Saab AB, Subsea 7 S.A., L-3 Technologies, International Submarine Engineering, and Gabri S.r.l among others.
The global market for
unmanned underwater vehicle market is expected to exhibit high growth in near future. The increase in UUV demand is expected to be experienced across the globe. For instance, major navies in the APAC region, especially China and India are emphasizing on the development of submarines, however, the demand for unmanned vehicles are also gaining momentum substantially in order to effectively monitor illegal access in the maritime boundaries of these countries. Despite the factors restraining the market growth, the rising demand for UUV in rapidly developing economies of APAC is projected to generate optimal growth opportunities during the forecast period. Also, increasing activities of Russian submarines around the Scandinavian countries in the Baltic Sea, and near the UK have fueled the demand for the more effective undersea surveillance systems using unmanned vehicles in the European region.
The global UUV market is segmented into: by types, applications, and geography. The market for UUV is anticipated to expand at a prime growth rate in the APAC region during the forecast period from 2018 to 2025. The major market share is captured by North America, pertaining to the large number of manufacturers, and suppliers in the region. Moreover, software companies are also enhancing the capabilities of the vehicles by introducing advanced programs and software. In addition, the US Defense authority is continuously investing significant amounts in research and developments, resulting in advanced technology, which in turn is increasing the demand for such unmanned marine systems, among US Navy as well as international naval forces. Along with these factors, the significant rise in hydrographic and oceanographic studies in the developed countries and developing economies are bolstering the market for the unmanned underwater vehicle in North America region. On the other hand, countries in Asia Pacific region such as China, Japan, South Korea, and India among others are constantly spending substantial amounts in development and procurement of advanced unmanned undersea robots. The defense sector captured the majority of the market in the Asia Pacific, while the unmanned marine robots are gaining prominence in the commercial sectors of Asia Pacific region.
APAC has been an active participant in the UUV market for over a decade now and has made significant development since then. China and Japan are the pioneers in UUV development in APAC, whereas India is rapidly emerging economy in UUV market. Singapore initiated two programs that included Starfish and Meredith. Starfish was developed by National University of Singapore and ST Electronics, whereas Meredith was found by DSO National Labs. Moreover, as the technology has been in existence for a long, majority of the Asian economies including Australia, Japan, China, Singapore, and Vietnam uses UUVs that are manufactured by local and international suppliers like ECA, Kongsberg, Atlas Elektronik and Saab AB for Mine countermeasures (MCM). MCM is one of the major usages of UUVs, and in APAC most of the navies integrate MCM based UUVs with ISR (Intelligence, Surveillance, and Reconnaissance). However, the ISR mission that is beyond MCM requires maturity in terms of concepts and technologies.
Global Unmanned Underwater Vehicle Market – By Type
Remotely Operated Vehicle
Autonomous
Global Unmanned Underwater Vehicle Market – By Applications
Commercial
Defense
Research
Global Unmanned Underwater Vehicle Market – By Geography
North America
U.S.
Canada
Mexico
Europe
France
Germany
Russia
U.K.
Asia Pacific (APAC)
China
India
Japan
Rest of APAC
Middle East & Africa (MEA)
Saudi Arabia
South Africa
U.A.E.
South America (SAM)
Brazil
Media Contact
Company Name: The Insight Partners
Contact Person: Sam J
Email: Send Email
Phone: +1-646-491-9876
Address:Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.theinsightpartners.com/reports/third-party-chemical-distribution-market