Chicago, June 30, 2022 (GLOBE NEWSWIRE) -- According to MarketsandMarkets™ research report, the "Unmanned Underwater Vehicles (UUV) Market by Type (Remotely Operated Vehicle & Autonomous Underwater Vehicle), ROV & AUV Market by Application, Product, Propulsion System, System, and Region - Global Forecasts to 2025" is estimated to be USD 2.0 billion in 2020 and is projected to reach USD 4.4 billion by 2025, at a CAGR of 16.4% from 2020 to 2025. The growth of this market can be attributed to the rise in trade of Underwater drones, developments in the military sector, and unmanned commercial sector.
Major players in the Underwater drones market include
- BAE Systems (UK),
- Kongsberg (Norway),
- Lockheed Martin (US),
- Saab AB (Sweden),
- Northrop Grumman Corp. (US),
- Oceaneering International Inc. (US), and
- The Boeing Company (US).
Other key players in the market are Teledyne Technologies (US), ECA Group (France), Boston Engineering Corp. (US), Cellula Robotics (Canada) and BALT Robotics (Poland). The report covers various industry trends and new technological innovations in the Unmanned underwater vehicles market for the period, 2016-2025.
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Need for ocean data & mapping to drive the market.
UUVs are equipped with sensors and payloads and, hence, are useful for ocean research and seabed mapping. They are used to measure water temperature, salinity, pH values, and currents, as well as to help understand the dynamics of the ocean. Such data is also required to create a detailed map for navigation and mineral extraction. Although these activities are also performed by USVs (unmanned surface vehicles), they have high production costs.
OceanAero’s Submaran and Triton are unmanned underwater vessels used for this purpose. The UUVs integrate the capabilities of a submarine and a surface sailing vessel and can gather a wide range of data, including environmental monitoring and sampling, remote area monitoring, oceanographic data gathering and hydrography. They are also effective environmental monitoring solutions for research or spill response.
By UUV type, the Remotely Operated Vehicle (ROV) segment Accounts for the largest share of the total UUVs market.
Remotely operated vehicles are tethered underwater vehicles, which are connected to an operator via a series of cables. These cables are responsible for transmitting command and control signals to and from the underwater vehicle, thereby allowing remote operation of the vehicle. ROVs are increasingly utilized for various applications such as offshore drilling, safety and security checks, ocean data and mapping, and mineral extraction. Brazil, Mexico, West Africa, and Southeast Asia are lucrative markets for offshore exploration. The increase in offshore exploration activities worldwide is anticipated to propel the demand for ROVs. The ROV market is more mature and technologically advanced than the AUV market, which is still in the development stage.
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465 - Tables
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By Remotely Operated Vehicle (ROV) applications, the Commercial segment Accounts for the largest share of the total UUVs market.
The growing need for oil & gas exploration is expected to drive global demand for ROV in the commercial domain. The commercial exploration segment of the remotely operated vehicle market has been further sub-segmented into offshore drilling, survey & seabed mapping, pipeline/cabling/inspection, and communication.
Asia Pacific: the fastest-growing market for Unmanned underwater vehicles
The Asia Pacific comprises China, Japan, India, Australia, Indonesia and Rest of Asia Pacific and is the fastest-growing market for UUVs. Factors such as increased military spending, the growing need for energy in emerging economies, and the rising adoption of UUVs in various application areas are driving the growth of the UUV market in Asia Pacific. The demand for UUVs for mine exploration and oceanographic studies has increased significantly in the past few years. The rising military capabilities of developing nations such as India and South Korea are also expected to boost the demand for UUVs in Asia Pacific.
The increasing need for energy and the high GDP growth rate in developing countries such as China and India are creating huge opportunities for UUV manufacturers in this region. China, Japan, and India are now exploring the Indian Ocean for oceanographic research. The rising defense activities, including security and Anti-submarine Warfare (ASW), in these countries, are also contributing to the growth of the UUV market in Asia Pacific.
UUVs are being widely adopted by the Chinese navy. For instance, in October 2019, China unveiled its first home-grown large displacement UUV, the HSU-001 on the 70th anniversary of the founding of the People’s Republic of China. The HSU-001 is likely to be used for long-range patrols. Globally, large UUVs are not popular due to the high cost and complexity involved in transporting and maintaining them; HSU-001 is thus leading in this sector. The UUV market in India is expected to record the highest CAGR during the forecast period due to the increasing adoption of UUVs by the Indian Navy to prevent the smuggling of illegal goods, and for border surveillance. The military & defense application held the largest share of the UUV market in Asia Pacific, largely due to China and India, which have a strong focus on their military forces. For instance, India has adopted the Adamya UUV with a depth range of 1,500 m, which can be launched from submarine torpedo tubes and surface ships. It can be used for various applications such as hydrographic surveys; underwater mine detection and countermeasure; intelligence surveillance and reconnaissance missions; offshore surveys; harbor security; clandestine monitoring, environmental monitoring; and anti-submarine operations.
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