Unmanned Underwater Vehicle Market Forecasts to 2028 - Global Analysis By Type, By Product Type, By Propulsion System, By Payload, Shape, Depth, Speed, Application and Geography

According to Stratistics MRC, the Global Unmanned Underwater Vehicle (UUV) Market is accounted for $2.93 billion in 2022 and is expected to reach $8.07 billion by 2028 growing at a CAGR of 18.4% during the forecast period. Self-propelled, unmanned underwater vehicles (UUVs) are usually deployed from a surface vessel and do not include a human operator on board. These vehicles are intended to operate independently (or with a remote controller) for a number of hours to several days. UUVs have attracted substantial attention from around the world and are being utilised increasingly in a wide range of applications. UUVs are widely used for surveillance, reconnaissance, mine countermeasures, ocean floor mapping, pipeline inspection, polar ice research, and anti-submarine warfare, among several other applications.

According to the United Nations Conference on Trade and Development (UNCTAD), global maritime transport has plunged by 4.1% in 2020 due to unexpected disruption.

Market Dynamics:

Driver:

Growing Deep-Water Oil & Gas Production Propels the Market Growth

Over the projection period, it is predicted that deep oil wells, which are about 400 feet deep, have been discovered as a result of Shell's success with deep-water well exploration programs. The new exploration project will likely produce more than 900,000 barrels of oil. Rising energy consumption will promote deep-sea exploration, which will further boost market demand. Furthermore, oil and gas companies frequently use UUVs for accurate seafloor surveys prior to beginning subsea infrastructure projects. Additionally, these unmanned vehicles are used for a number of commercial tasks, including mapping or imaging the seafloor and conducting research on pipeline disruption in the water environment.

Restraint:

Lack of effective communication system

Due to the information being distorted under the water, communication and signal transmission are two of the major issues with unmanned underwater vehicle technology. The basis of communication is the transmission of acoustic waves, which can be delayed by up to two seconds due to slow movement. Additionally, environmental factors that interfere with signal transmission include reflection, refraction, and signal absorption. Many producers use expensive laser communication technology, which raises the price of the finished product.

Opportunity:

Growing Concerns

Owing to maritime piracy and maritime terrorism, substantial human and financial expenses are incurred, which are major issues and hazards to international shipping. Moreover, maritime security is also challenged by port security, maritime drug smuggling, and migrant smuggling. Furthermore, the expanding usage of UUVS to combat these threats and enhance maritime security through ISR operations is anticipated to fuel market expansion.

Threat:

Design and operational

Naval forces have several operating opportunities with an unmanned sea system. Moreover, this system also has certain challenging design issues as well as operational constraints. Additionally, unmanned underwater vehicle operating restrictions include those related to payload carrying capacity, increased range, speed, and endurance. These devices incur communication problems due to their underwater deployment. This is mostly owing to transmissions being distorted by water waves, with additional obstacles arising from maritime debris.

COVID-19 Impact:

Lockdowns and partial industrial closures during the COVID-19 outbreak had a negative influence on manufacturing facilities all around the world. Companies have taken severe measures, including as shutting down plants, to contain COVID-19 global expansion and protect workers. Due to the delays in production and delivery, the market for UUVs experienced a proportional decline in revenue for product and technology providers as well as raw material suppliers as a result of the rapid enforcement of lockdowns. Nevertheless, the market has started to rebound and commence a rising pattern from the final quarter of 2020.

The remotely operated vehicle (ROV) segment is expected to be the largest during the forecast period

During the forecast period, it is estimated that underwater tethered vehicles, which are operated remotely are tethered to a controller by a network of cables. These cables are in charge of transmitting command and control signals from the underwater vehicle, enabling the vehicle to be operated remotely. ROVs are being used increasingly for a wide range of tasks, including offshore drilling, security and safety inspections, ocean data collection and mapping, and mineral extraction.

The mechanical system segment is expected to have the highest CAGR during the forecast period

As the mechanical system includes designing, prototyping, and manufacturing various AUV components, the mechanical systems segment indicates incredible growth. AUV's structural frame, pressure hulls, and payload actuation are some of the main mechanical components. Mechanical systems will become high in demand as the demand for AUVs rises.

Region with largest share:

With the majority of the market share in North America, the United States dominates the global market as a producer, operator, and exporter. The use of remotely controlled vehicles (ROVs) in the commercial and defence sectors is anticipated to increase, which will lead to a rise in the production of ROVs in North America. Furthermore, the market in this region is expanding as several autonomous underwater vehicles (AUVs) are used to conduct deep-water surveys for oil and gas extraction.

Region with highest CAGR:

The increase in defence sector investment from several nations, including India, China, Japan, and South Korea, is essential for the growth. The nations have raised their defence budgets and acquired more cutting-edge UUVs for use in Asia-Pacific naval operations. Furthermore, the demand for UUVs for oceanographic research and mining exploration has grown significantly over the past few years.

Key players in the market

Some of the key players in Unmanned Underwater Vehicle (UUV) market include International Submarine Engineering, Fugro, Kongsberg Gruppen, Boston Engineering Corporation, General Dynamics Corporation, Teledyne Technologies Incorporated, Saab AB, Kongsberg Maritime, The Boeing Company, TechnipFMC plc, Atlas Elektronik GmbH, Oceaneering International, Inc., BAE Systems plc, Bluefin Robotics Corporation and Lockheed Martin Corporation

Key Developments:

In February 2020, Fugro signed a contract with Aker Energy for geotechnical and geophysical survey services in relation to the Pecan field, offshore Ghana. Under the agreement, geophysical survey data was acquired using the Fugro searcher and Fugro's deep-water AUVs fleet.

Types Covered:

• Remotely Operated Vehicle (ROV)
• Autonomous Underwater Vehicle (AUV)

Product Types Covered:

• High-Capacity Electric Vehicle
• Small Vehicle
• Work-Class Vehicle
• Heavy Work-Class Vehicle
• Man Portable
• Light Weight Vehicles
• Large Vehicles
• Heavy Weight Vehicles

Propulsion Systems Covered:

• Mechanical System
• Electric System
• Hybrid System
• Diesel/Gasoline Engine
• Solar
• Non Electric Systems

Payloads Covered:

• Sensors
• Camera
• Inertial Navigation System
• Synthetic Aperture Sonar
• Other Payloads

Shapes Covered:

• Multi Hull Vehicle
• Streamlined Rectangular Style
• Laminar Flow Body
• Torpedo

Depths Covered:

• Shallow AUVS (Depth up to 100 m)
• Medium AUVS (Depth up to 1,000 m)
• Large AUVS (Depth more than 1,000 m)

Speeds Covered:

• Less than 5 knots
• More than 5 knots

Applications Covered:

• Defense
• Scientific Research
• Commercial Exploration

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
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• Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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