Vancouver, Oct. 19, 2023 (GLOBE NEWSWIRE) -- The global Unmanned Underwater Vehicles (UUV) market size reached USD 1.96 Billion in 2020 and is expected to register a revenue CAGR of 15.8% during the forecast period, according to latest analysis by Emergen Research. Increased deep-water oil and gas exploration and production, and increasing integration of advanced technologies in UUVs are some key factors expected to drive market revenue growth during the forecast period. Rising need for ocean mapping and deployment for defense purposes are also expected to boost revenue growth of the market going ahead.
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Development of UUVs with improved battery capacity and better autonomy and manipulating capabilities is expected to result in these vehicles establishing a stronger position in various commercial and defense applications. Thrusters use maximum energy in UUVs and battery life of around 24 hours, which is further decreased if these vehicles must operate in deep water. The limited battery life of UUVs necessitates human involvement in battery charging. Nickel-metal Hydride (NiMH) batteries used in AUVs have a lower rate of degradation and a lower danger of leakage than Li-ion batteries in the event of a disaster. As a result, NiMH batteries are more widely utilized in higher-speed UUVs. Also, onboard sensors in UUVs improve ability to convey power to electrical equipment for scanning and tracking. Such technologies help reduce the consumption of onboard electrical components, and also are paving the way for further developments such as underwater AUV recharge.
However, high operating cost of UUVs and slow speed of underwater surveying are key factors expected to hamper global Unmanned Underwater Vehicles (UUV) market revenue growth to some extent during the forecast period.
Scope of Research
| Report Details | Outcome |
| Market size in 2020 | USD 1.96 Billion |
| CAGR (2021–2032) | 15.8% |
| Revenue forecast to 2032 | USD 11.18 Billion |
| Base year for estimation | 2020 |
| Historical data | 2018–2019 |
| Forecast period | 2021–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2021 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, Propulsion System, Product Type, Payload, Application, and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
| Key companies profiled | Saab AB, Lockheed Martin Corporation, Kongsberg Gruppen, The Boeing Company, Atlas Elektronik GmbH, General Dynamics Corporation, Oceaneering International, Inc., BAE Systems plc, Boston Engineering Corporation, Bluefin Robotics Corporation |
| Customization scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global unmanned underwater vehicles market is fairly fragmented, with a number of large and medium-sized market players accounting for a major revenue share. Key players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, adopting more advanced technologies in unmanned underwater vehicles, developing, testing, and introducing new and more efficient unmanned underwater vehicles in the market. Some major players operating in the global unmanned underwater vehicles market are:
- Saab AB
- Lockheed Martin Corporation
- Kongsberg Gruppen
- The Boeing Company
- Atlas Elektronik GmbH
- General Dynamics Corporation
- Oceaneering International, Inc.
- BAE Systems plc
- Boston Engineering Corporation
- Bluefin Robotics Corporation
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Strategic Development
In June 2020, Kongsberg Gruppen received its first order for a state-of-the-art remotely operated vehicle (ROV) launching and recovery system (LARS), which is particularly built to manage ROVs from unmanned boats. The system is powered completely by electricity, rendering it more ecologically friendly and minimizing maintenance needs. The ROV can be launched and recovered beneath sea level, with launching and recovery taking place in the moon pool.
Some Key Highlights From the Report
- Small vehicle segment revenue is expected to expand at a significantly rapid CAGR over the forecast period due to rise in consumer expenditure and utilization in applications for water column properties tracking, monitoring, and operations in benthic zones.
- Sensors segment is expected to register significantly robust revenue growth over the forecast period due to high usage of sensors in military applications such as for tracking, monitoring, and identifying objects etc.
- Defense segment is expected to account for larger revenue share over the forecast period due to increased defense spending and greater military use of UUVs to ensure coastal security and in naval warfare, detection of undersea explosives, and mines etc.
- Asia Pacific is expected to register fastest revenue growth rate during the forecast period. Increased defense spending by various countries, notably China, India, Japan, and South Korea, is expected to drive revenue growth of the Asia Pacific market.
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Emergen Research has segmented the global Unmanned Underwater Vehicles (UUV) market on the basis of type, propulsion system, product type, payload, application, and region:
- Type Outlook (Revenue, USD Billion; 2018–2032)
- Hybrid Underwater Vehicles (HUV)
- Remotely Operated Vehicles (ROV)
- Autonomous Underwater Vehicles (AUV)
- Propulsion System Outlook (Revenue, USD Billion; 2018–2032)
- Electric
- Hybrid
- Others
- Product Type Outlook (Revenue, USD Billion; 2018–2032)
- Small Vehicle
- Work Class Vehicle
- High-Capacity Electric Vehicle
- Heavy Work Class Vehicle
- Payload Outlook (Revenue, USD Billion; 2018–2032)
- Cameras
- Sensors
- Synthetic Aperture Sonar
- Inertial Navigation Systems
- Application Outlook (Revenue, USD Billion; 2018–2032)
- Scientific Research
- Commercial
- Defense
- Others
- Regional Outlook (Revenue, USD Billion; 2018–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors. For more information, visit
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