Dublin, May 09, 2024 (GLOBE NEWSWIRE) -- The "Global Unmanned Underwater Vehicles Market by Type (Autonomous Underwater Vehicles (AUVs), Remotely Operated Vehicles (ROVs)), Product Type), Propulsion, Application, System, Speed, Shape, Depth and Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The Unmanned Underwater Vehicles market is valued at USD 4.8 billion in 2024 and is projected to reach USD 11.1 billion by 2030, at a CAGR of 15% from 2024 to 2030
This market study covers the Unmanned Underwater Vehicles market across various segments and subsegments. It aims to estimate this market's size and growth potential across different parts based on type, propulsion, application, system, speed, shape, depth, and region. This study also includes an in-depth competitive analysis of the key players in the market, their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies they adopted.
The growth of market is primarily driven by advancements in marine technology, increasing demands for autonomous underwater vehicles (AUVs) and remotely operated vehicles (ROVs) for deep-sea exploration, and the growth of offshore oil and gas exploration activities. The development of UUVs for strengthening maritime security and surveillance capabilities by various governments further propels the market growth.
The Asia Pacific region is witnessing robust growth in the Unmanned Underwater Vehicles market, driven by the technological advancement. The nations across the region are actively developing unmanned underwater vehicles (UUVs) for commercial, scientific research and defense applications. The rising government initiatives and increasing naval budget for development of UUVs for various defense operations are driving the market growth for Unmanned Underwater Vehicles market.
Major companies profiled in the report include Kongsberg (Norway), Saab AB (Sweden), Oceaneering International , Inc. (US), Boeing (US), and Fugro (Netherlands) among others.
Based on ROV- Propulsion, the Electric systems segment is estimated to have the largest market share in 2024
The Electric systems segment in the unmanned underwater vehicles market is being driven by advancements in electric propulsion technology, improved power density, efficiency, and system integration. These electric systems are equipped with high-energy-density batteries and advanced power management which enables longer mission durations, greater depths of operation, and enhanced maneuverability. The increasing demands of electrically propelled ROVs in sectors such as offshore oil and gas exploration, underwater infrastructure inspection, and marine research is fueling the market growth of the segment.
Based on AUV- Depth, the Deep (More than 1000m) segment is estimated to have the largest market share in 2024
The deep (more than 1000m) segment by AUV- Depth is being driven by advancements in high-pressure hull design, energy storage systems, and underwater navigation technologies. The AUVs has the ability to operate autonomously in extreme depths without any human intervention. The increasing demand for deep-sea mineral exploration, underwater infrastructure inspection, and environmental monitoring in larger ocean depths further fuels the market growth of the segment.
Key Attributes:
Report Attribute | Details |
No. of Pages | 397 |
Forecast Period | 2024 - 2030 |
Estimated Market Value (USD) in 2024 | $4.8 Billion |
Forecasted Market Value (USD) by 2030 | $11.1 Billion |
Compound Annual Growth Rate | 15.0% |
Regions Covered | Global |
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