“The rising number of deep-water offshore oil & gas production activities is a key factor expected to drive the demand for Unmanned Underwater Vehicles (UUVs), globally”
The unmanned underwater vehicle market is expected to grow from an estimated USD 2.69 billion in 2017 to USD 5.20 billion by 2022, at a CAGR of 14.07% from 2017 to 2022. 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.
“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 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.
“North America is estimated to be the largest market for unmanned underwater vehicles in 2017”
North America is estimated to be the largest market for unmanned underwater vehicles (UUVs) in 2017. The US is the largest developer, operator, exporter, and consumer of UUVs, globally, which is expected to support the growth of the market in North America.
Break-up of profile of primary participants for the unmanned underwater vehicle market
- By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
- By Designation: C level – 35%, Director level – 25%, Others – 40%
- By Region: North America – 45%, Europe – 20%, Asia Pacific – 30%, RoW – 5%
major companies profiled in the report include Teledyne Technologies (US), Subsea 7 (UK), Kongsberg Maritime (Norway), and Oceaneering International Inc. (US).
This research report categorizes the unmanned underwater vehicle market based on type (remotely piloted vehicle (ROV) and autonomous underwater vehicle (AUV) ), 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 sub-segments across the major regions of the world, namely, North America, Europe, Asia Pacific, the Middle East, Latin America and Africa.
Reasons To buy this report:
From an insight perspective, this research report focuses on various levels of analyses ? industry analysis (industry trends), market share analysis of top players, company profiles, emerging and high-growth segments of the market, high-growth regions, and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on UUVs offered by the top 10 players in the global unmanned underwater vehicle market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the unmanned underwater vehicle (UUV) market
- Market Development: Comprehensive information about lucrative emerging markets - the report analyses the markets for unmanned underwater vehicle across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the unmanned underwater vehicle market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the unmanned underwater vehicle market