New York, United States , July 11, 2023 (GLOBE NEWSWIRE) -- The Global Unmanned Underwater Vehicles Market Size is to grow from USD 2.93 Billion in 2022 to USD 11.05 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 14.2% during the forecast period.
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Unmanned Underwater Vehicles (UUVs), also known as underwater drones, are autonomous or remotely operated devices used for various purposes underwater. Equipped with sensors, cameras, and specialized instruments, UUVs are employed in scientific research, military operations, and commercial applications. They offer a cost-effective and safer alternative to manned missions, allowing for tasks such as data collection, marine exploration, and infrastructure inspection. UUVs have revolutionized ocean exploration by enabling scientists to study marine ecosystems, map the seafloor, and monitor underwater structures. With ongoing advancements, UUVs continue to expand their capabilities, promising further advancements in underwater exploration and utilization.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on, "Global Unmanned Underwater Vehicles Market Size, Share, and COVID-19 Impact Analysis, By Type (Remotely Operated Vehicles, Autonomous Underwater Vehicles, and Hybrid Underwater Vehicles), By Application (Commercial Exploration, Defense, Scientific Research, and Others), By Propulsion System (Mechanical, Electric, Hybrid, and Others), By Payload (Sensor, Synthetic Aperture Sonar, Cameras, Inertial Navigation Systems, and Others), By Product Type (Small Vehicles, High-Capacity Electric Vehicles, Work Class Vehicles, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032". Get Detailed Report Description Here:
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The small vehicle segment held the largest market share with more than 35.8% in 2022.
Based on product type, the global unmanned underwater vehicles market is segmented into small vehicles, high-capacity electric vehicles, work-class vehicles, and others. The small vehicle segment has emerged as the frontrunner, holding the largest market share in the Unmanned Underwater Vehicles (UUVs) market. This is primarily driven by several factors because the small UUVs offer agility, maneuverability, and cost-effectiveness compared to their larger counterparts. They are highly versatile and can be deployed in various applications, including research, inspection, and defense. Additionally, advancements in miniaturization and lightweight materials have enhanced the capabilities of small UUVs while maintaining their compact size. The increasing demand for compact and portable UUVs for underwater exploration, surveillance, and environmental monitoring has contributed to the segment's dominance. With ongoing advancements and the need for agile underwater operations, the small vehicle segment is expected to continue leading the UUVs market.
The sensor segment held the largest market share with more than 32.6% in 2022.
Based on payload, the global unmanned underwater vehicles market is segmented into sensor, synthetic aperture sonar, cameras, inertial navigation systems, and others. The sensor segment has emerged as the leader, holding the largest market share in the Unmanned Underwater Vehicles (UUVs) market. This can be attributed to the critical role that sensors play in UUV operations. Sensors enable UUVs to gather data, monitor environmental conditions, and perform various tasks with precision and accuracy. The advancements in sensor technology, such as high-resolution imaging, acoustic sensors, and specialized sensors for specific applications, have significantly contributed to the segment's growth. The increasing demand for real-time data collection, underwater mapping, and surveillance has further propelled the sensor segment's dominance. With the growing focus on improving sensing capabilities and expanding applications of UUVs, the sensor segment is expected to maintain its leadership position in the market.
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Asia-Pacific is predicted to grow at the highest CAGR of around 17.4% over the projected period.
Based on region, Asia-Pacific is anticipated to experience the highest growth in the forecast period in the Unmanned Underwater Vehicles (UUVs) market. Several factors contribute to this growth due to increasing defense budgets and a focus on maritime security, leading to a higher demand for UUVs in military applications. The rapid growth of emerging economies in Asia-Pacific, such as China and India, has led to increased investments in underwater infrastructure development, driving the need for UUVs in inspection and maintenance activities. Additionally, advancements in technology, availability of skilled labor, and favorable government initiatives supporting the development and adoption of UUVs contribute to the expected growth in the Asia-Pacific region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global unmanned underwater vehicles market include Boeing, Fugro, General Dynamics Corp., Saab AB, Kongsberg Maritime, Oceaneering International Inc., Bluefin Robotics, BAE Systems, Boston Engineering Corp., and Lockheed Martin Corp.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global unmanned underwater vehicles market based on the below-mentioned segments:
Unmanned Underwater Vehicles Market, By Type
- Remotely Operated Vehicles
- Autonomous Underwater Vehicles
- Hybrid Underwater Vehicles
Unmanned Underwater Vehicles Market, By Application
- Commercial Exploration
- Defense
- Scientific Research
- Others
Unmanned Underwater Vehicles Market, By Propulsion System
- Mechanical
- Electric
- Hybrid
- Others
Unmanned Underwater Vehicles Market, By Payload
- Sensor
- Synthetic Aperture Sonar
- Cameras
- Inertial Navigation Systems
- Others
Unmanned Underwater Vehicles Market, By Product Type
- Small Vehicles
- High-Capacity Electric Vehicles
- Work Class Vehicles
- Others
Unmanned Underwater Vehicles Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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