Unmanned Underwater Vehicles Market | Revenue, Share and Forecast To 2022

Posted by Akshata Sharma on December 12th, 2019

Unmanned Underwater Vehicles Market | Global Forecast 2022

New York, NY, Dec-12, 2019 /(Aerospace NEWS)-- The report "Unmanned Underwater Vehicles (UUV) Market by Type (Remotely Operated Vehicle & Autonomous Underwater Vehicles), ROV & AUV Market by Application, Product, Propulsion System, Payload, and Region - Global Forecasts to 2022", published by MarketsandMarkets™, the Unmanned Underwater Vehicles (UUV) market is estimated at USD 2.69 Billion in 2017 and is projected to reach 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.

Browse 119 Market Data Tables and 99 Figures spread through 294 Pages and in-depth TOC on "Unmanned Underwater Vehicles (UUV) Market - Global Forecasts to 2022"

"Based on application, the commercial exploration segment of the Remotely Operated Vehicle (ROV) market is expected to witness the highest growth during the forecast period" 

The commercial exploration segment of the Remotely Operated Vehicle (ROV) market is expected to witness the highest growth during the forecast period. This growth can be attributed to the increased demand for UUVs in commercial applications, such as surveys and seabed mapping, offshore drilling, and pipeline inspection.

"Based on payload, the sensor segment of the unmanned Underwater Vehicles market is expected to witness the highest growth during the forecast period" 

The unmanned Underwater Vehicles market has been segmented and analyzed based on payload into sensors, radars, cameras, lasers, and others. The camera segment is estimated to be the largest segment of the market in 2017, as high-resolution cameras are the most widely used payloads in various applications. The sensors segment is projected to witness the highest growth, due to the increased use of sensors in the defense sector for scanning, detecting, mapping, and remote sensing. Sensors are also used in the commercial sector to measure the concentration of various elements and compounds and detect the presence of microscopic life.

"The unmanned Underwater Vehicles market in Africa is expected to witness high growth during the forecast period." 

North America is estimated to account for the largest share of the unmanned Underwater Vehicles market in 2017, due to the rising incidences of terrorism and increasing offshore drilling activities in the region. The unmanned Underwater Vehicles market in Africa is expected to witness the highest growth during the forecast period, owing to the rising oil & gas exploration activities undertaken by countries such as South Africa and Nigeria and the increased use of UUVs in anti-submarine warfare to help detect manned submarine in the region.

Oceaneering International (US), Kongsberg Maritime (Norway), Teledyne Technologies, Inc. (US), and Subsea 7 S.A. (UK) are the major players operating in the unmanned Underwater Vehicles market.

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The report segments and analyzes the unmanned Underwater Vehicles market based on type (remotely operated vehicle, and autonomous Underwater Vehicles), 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 subsegments across the major regions, namely, North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa.

Key players operating in the global unmanned underwater vehicle (UUV) market include Teledyne Technologies (US), Fugro (The Netherlands), Subsea 7 (UK), Kongsberg Maritime (Norway), and Oceaneering International Inc. (US). Long-term contracts and new product launches are the two major growth strategies adopted by key players to strengthen their position and enhance their product offerings in the market.

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Akshata Sharma

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Akshata Sharma
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