Unmanned Underwater Vehicles Market to be dominated by North America region through 2027
The rising number of offshore oil and gas
activities and increased defense expenditure globally is expected to drive the
demand for the global unmanned underwater vehicles market in the forecast
period, 2023-2027.
According to TechSci Research
report, “Unmanned Underwater Vehicles Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2017-2027”, the global unmanned
underwater vehicles market is anticipated to witness steady growth in the
forecast period, 2023-2027. An unmanned underwater vehicle is a kind of robotic
system that can be operated under seawater without human intervention. They are
in high demand for UUV for underwater applications, including commercial,
security, and research purposes. The introduction of smart devices and rapid
technological developments in the unmanned underwater vehicle are the primary
factors driving the demand for the global unmanned underwater vehicle market.
Market players have started using artificial
intelligence
in autonomous underwater vehicles, garnering massive customer attraction.
Artificial intelligence technology enables them to map the seabed and carry out
the underwater infrastructure repair that is harmful to human technicians. The
introduction of 3D computer imaging and underwater artificial intelligence in
subaquatic robotics lowers the cost of offshore renewable energies.
Also, the growing distribution
network of the global unmanned underwater vehicle market is expected to be a
major driver for the global unmanned underwater vehicles market. Brokers and
postproduction service providers are the two members of the distribution
network. Postproduction includes repair, maintenance, and training services.
Distributors work on increasing product awareness and lowering administrative
costs. Manufacturers focus on domestic production and distribution and can sell
their products in their other countries with the help of a distributor.
Therefore, the availability of instant local support is expected to improve the
end-user experience, which is expected to act as a positive factor for the
global unmanned underwater vehicle market.
However, the high cost of
autonomous underwater vehicles and laser communication systems may restrain the
growth of the global unmanned underwater vehicles market growth in the forecast
period.
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Unmanned Underwater Vehicles Market"
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The global unmanned
underwater vehicles market is segmented into type, shape, application, regional
distribution, and competitive landscape.
Based on application, the
market is divided into collision avoidance, communication, navigation,
propulsion, and imaging. The collision avoidance application segment is
expected to capture the highest market share in the forecast period as it
ensures security during exploration and other activities. It uses technologies
and sensors that use radar, laser, and cameras to detect an imminent crash and
help operators make informed decisions.
On the basis of regional
analysis, the North American region dominates the market and is expected to
maintain its dominance through the next five years. Massive demand for the
remotely operated vehicle in commercial and defense sectors and the surge in
the use of autonomous
underwater vehicles to carry out deep water surveys in the oil & gas
industry is expected to drive the market demand. Also, the United States is the
largest operator, developer, consumer, and exporter of unmanned underwater
vehicles, which is another significant factor influencing the market demand in
the region.
Major market players
operating in the global unmanned underwater vehicles market are:
·
SAAB
Seaeye
·
Lockheed
Martin Corporation
·
Kongsberg
Gruppen
·
Teledyne
Technologies
·
Oceaneering
International Inc.
·
BAE
Systems
·
Bluefin
Robotics
·
International
Submarine Engineering
·
Atlas
Elektronik
·
Boston
Engineering Corporation
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“Ongoing technological
innovations and the surge in energy requirements in developing economies have
accelerated the oil & gas industry growth. The constant depletion of the
onshore energy reserves has shifted the energy extraction industry players
towards offshore reserves. There is high demand for unmanned underwater
vehicles in the oil & gas industry for pipeline inspections, bathymetric
surveys, search and rescue operations, and platform inspection operations. The
ability to provide cost-effective solutions for deep water drilling operations
as they do not require the use of surface vessels is accelerating their demand
across the oil & gas industry. Therefore, the rise in the offshore oil
& gas production and the search for cost-effective solutions are expected
to propel the global unmanned underwater vehicles market growth till 2027” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Unmanned Underwater
Vehicles Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2017-2027 Segmented By Type (Shallow AUVs (up to 100 m), Medium AUVs
(up to 1,000m), Large AUVs (more than 1,000m)), By Shape (Torpedo, Laminar Flow
Body, Streamlined Rectangular Style, Multi-hull Vehicle), By Application
(Collision Avoidance, Communication, Navigation, Propulsion, Imaging), and By
Region”, has evaluated the future growth
potential of global unmanned underwater vehicles market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global unmanned underwater vehicles market.
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