The Unmanned Underwater Vehicle (UUV) market is projected to grow from USD 2.69 Billion in 2017 to 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. Government organizations and private agencies across the globe have been investing in the development and manufacturing of advanced UUVs.
Based on application, the unmanned underwater vehicle market has been segmented into defense, commercial exploration, scientific research, and miscellaneous. The commercial exploration segment is projected to witness the highest growth during the forecast period, due to the increased demand for UUVs in commercial applications, such as surveys and seabed mapping, offshore drilling, and pipeline inspection.
To Know More- Free Sample Report @
Based on type, the unmanned underwater vehicle market has been segmented into Remotely Operated Vehicle (ROV) and Autonomous Underwater Vehicle (AUV). The remotely operated vehicle market is estimated to be a larger market in 2017, due to the high demand for high-powered ROVs for ultra-deep sea ocean levels drilling.
The geographical analysis of the unmanned underwater vehicle market covers regions, namely, North America, Europe, Asia Pacific, Middle East, Latin America, and Africa. The market in Africa is projected to witness the highest growth during the forecast period, owing to the increasing activities pertaining to the discovery of new regions for oil & gas exploration between Africa and the Gulf of Mexico.
Declining military budgets in developed economies, especially the US, which is one of the key consumers of UUVs, can restrain the growth of the unmanned underwater vehicle market.
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.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : +1-888-600-6441
Email: newsletter@marketsandmarkets.com
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : +1-888-600-6441
Email: newsletter@marketsandmarkets.com
Keyword: Unmanned underwater vehicles military, unmanned underwater vehicles history, unmanned underwater vehicles price, unmanned underwater vehicles communication
Browse Related Report
No comments:
Post a Comment