PUBLISHER: The Business Research Company | PRODUCT CODE: 1742135
PUBLISHER: The Business Research Company | PRODUCT CODE: 1742135
Military Unmanned Underwater Vehicles (UUVs) are autonomous or remotely operated underwater drones designed for naval and defense applications. They operate without human crew onboard and perform a variety of missions in both shallow and deep waters. The primary purpose of military unmanned underwater vehicles (UUVs) is to enhance naval operations by conducting underwater missions without risking human lives. These autonomous or remotely operated systems are used for a variety of tasks, including intelligence, surveillance, and reconnaissance (ISR), mine countermeasures, anti-submarine warfare, and underwater mapping
The military unmanned underwater vehicles market consists of sales, by entities (organizations, sole traders, or partnerships), of military unmanned underwater vehicles deployed for a variety of military missions, including intelligence gatherings, surveillance, reconnaissance, mine countermeasures, anti-submarine warfare and underwater inspections. They serve as critical assets for naval forces, enhancing operational capabilities while reducing risks to human personnel.
The global military unmanned underwater vehicles market was valued at $3,070.70 million in which grew till 2024 at a compound annual growth rate (CAGR) of more than 5.00%.
Increasing Defense Budget Allocation
The increasing defense budget allocation has driven the growth of the military unmanned underwater vehicles market during the historic period. The defense budget refers to the amount of financial resources allocated by a government to maintain and strengthen its military forces. The defense budget allocation increased due to rising geopolitical tensions, requiring enhanced military readiness and inflation-driven cost hikes affecting equipment, operations and personnel expenses. The increased defense budget allocation has driven the growth of military unmanned underwater vehicles (UUVs) by funding advancements in autonomous technology, underwater surveillance and naval warfare capabilities. For instance, in August 2024, according to the USAFacts, a US-based not-for-profit organization and website, the U.S. military expenditure was around $820.3 billion in 2023, accounting for approximately 13.3% of the total federal budget for that fiscal year. Furthermore, in 2023, the Department of Defense (DoD) proposed a budget of $842.0 billion for 2024, reflecting a 2.6% increase. Therefore, increasing defense budget allocation has significantly contributed to the expansion of the military unmanned underwater vehicles market.
Innovative Compact UUVs Enhancing Naval And Commercial Capabilities
Companies operating in the military unmanned underwater vehicles market are focusing on developing innovative solutions, such as compact unmanned underwater vehicles (UUVs), to enhance underwater reconnaissance, surveillance and mine countermeasure capabilities. A compact unmanned underwater vehicle (UUV) refers to a small, autonomous, or remotely operated underwater system designed for various naval and commercial applications. For instance, in October 2024, STM Savunma, a Turkey-based defense company, unveiled the NETA 300, a compact unmanned underwater vehicle (UUV) at SAHA EXPO 2024 in Istanbul, enhancing Turkey's naval capabilities. Weighing 70 kg, it operates at depths of 300 meters for up to 24 hours with a top speed of 5 knots. Equipped with advanced sonar systems like synthetic aperture sonar (SAS), it excels in mine detection, surveillance and reconnaissance. The NETA 300 serves both military (MCM, ASW, ISR) and civilian (seabed mapping, pipeline inspection) applications.
The global military unmanned underwater vehicles market is fairly fragmented, with a large number of small players in the market. The top ten competitors in the market made up to 18.84% of the total market in 2023.
Military Unmanned Underwater Vehicles Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global military unmanned underwater vehicles market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for military unmanned underwater vehicles? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The military unmanned underwater vehicles market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider military unmanned underwater vehicles; and compares it with other markets.