Report Id: SNS/A&D/1681 | June 2022 | Region: Global | 125 Pages
Report Scope & Overview:
Unmanned Underwater Vehicles Market Size was valued at USD 2.92 billion in 2021 and US$ 3.42 billion in 2022, expected to reach USD 8.77 billion by 2028, and grow at a CAGR of 17% over the forecast period 2022-2028.
Automated Submerged Vehicles are otherwise called submerged drones, are any submarine vehicles that can work submerged without human mediation. Automated Submerged Vehicles are partitioned into two sections like remotely worked submerged vehicles and independent submerged vehicles. Remotely worked submerged vehicles remotely are constrained by an individual and independent submerged vehicles are worked without human mediation. Automated Submerged Vehicles are helpful for submerged development and examination in the seaward oil and gas businesses.
Progressions in UUV advancements, let’s say higher goal cameras, better controller arms, and more delicate sonar have decreased the time expected to find and assess things. UUV can examine the most profound water under the designs and proposition information that empowers the development business in manners at no other time. the Bluey Trailblazer is furnished with strong Drove lights, a superior quality fixed camera, and four engines that slice through low perceivability water with light-footed preparing, simple activity, and low vehicle support. UUV's can offer capacities in numerous areas especially in the readiness of battlespace notwithstanding region refusal dangers. There are a few advantages of UUV, let’s say more affordable to work, further develop efficiency, simple support, and increments exactness.
The worldwide unmanned underwater vehicle market is likely to expand as the number of naval applications for safety and security increases. Furthermore, a surge in the number of offshore oil and gas operations is likely to boost market expansion in the future. Increased monitoring activities for security, stricter restrictions, and increased government funding all contribute to the expansion of the unmanned underwater vehicles market. However, the economic crisis and defence budget cuts may have a negative impact on the unmanned underwater vehicle business.
Rising capital expenditure
Deep water oil & gas production rising
High cost of AUV’s
Communication system failure
Development of technology
Long battery life
Slow underwater survey speed
Deepwater pressures are really high.
THE IMPACT OF COVID-19
The rapid spread of COVID-19 in Europe, the United States, and Asia Pacific has resulted in a significant drop in demand for UUV globally, with a corresponding reduction in revenues for various payload suppliers and service providers across all markets due to late delivery, manufacturing shutdown, limited staff at manufacturing facilities, and limited availability of equipment. According to industry experts, global UUV demand will fully recover by 2022.
The market for unmanned underwater vehicles market is segmented into two parts: autonomous underwater vehicles and remotely operated vehicles. This has the highest CAGR over the forecast period. Autonomous underwater vehicles have shown tremendous promise in underwater activities. These autonomous programmable robots are used for underwater survey missions such as identifying and mapping submerged wrecks, rocks, and impediments. AUVs can operate in difficult-to-reach places and offer precise data since they are outfitted with cutting-edge payloads.
The remotely operated vehicle market has been divided into four applications: commercial exploration, strong defense, scientific research, and others. During the forecast period, the commercial exploration segment of the unmanned underwater vehicle market is predicted to develop the most. ROVs are used for a variety of commercial purposes, including survey and seabed mapping, offshore drilling, pipelining, cabling, and inspection, among others.
The market is divided into Mechanical, Electric, Hybrid, and Others based on Propulsion System. During the forecast period, the electric segment of the global unmanned underwater vehicles market is predicted to develop at the fastest CAGR. This vehicle can function without the use of a complicated support system. During the projection period, the mechanical segment is also predicted to increase at a rapid pace.
The market is divided into small vehicles, work-class vehicles, high-capacity electric cars and many more. Because of rising consumer purchasing power and increased use in applications for observing water column features, monitoring, and benthic zones, tiny vehicles dominated the market.
MARKET KEY PLAYER
SAAB Seaeye, International Submarine Engineering, BAE Systems, Bluefin Robotics, Boston Engineering Corporation, Teledyne Technologies, Atlas Elektronik, Kongsberg Gruppen, Lockheed Martin Corporation, Oceaneering International Inc.
by Product Vehicles
High-capacity Electric Vehicles
Work Class Vehicles
Heavy Work Class Vehicles
Light Weight Vehicles
Heavy Weight Vehicles
Remotely Operated Vehicle
Autonomous Underwater Vehicle
By Propulsion System
North America is expected to be the greatest market for unmanned underwater vehicles. The United States is the largest developer around the world, exporter operator, and user of UUVs, which is likely to drive market projection in North America. Thus, the increasing applicability of ROVs in the defence and commercial sectors is expected to boost the expansion of the North American remotely operated vehicle market. The primary driver of the North American autonomous underwater vehicles market is the rising usage of autonomous underwater vehicles for deep water surveys for the oil and gas industry that would otherwise be costly.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2021||US$ 2.92 Billion|
|Market Size by 2028||US$ 8.77 Billion|
|CAGR||CAGR of 17% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Product Vehicles (High-capacity Electric Vehicles, Work Class Vehicles, Heavy Work Class Vehicles, Man portable, Light Weight Vehicles, and Heavy Weight Vehicles)
• By Application (Commercial Exploration, Defense, Scientific Research, and Miscellaneous)
• By Type (Remotely Operated Vehicle and Autonomous Underwater Vehicle)
• By Propulsion System (Mechanical, Electric & hybrid)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||SAAB Seaeye, International Submarine Engineering, BAE Systems, Bluefin Robotics, Boston Engineering Corporation, Teledyne Technologies, Atlas Elektronik, Kongsberg Gruppen, Lockheed Martin Corporation, Oceaneering International Inc.|
|DRIVERS||• Rising capital expenditure
• Deep water oil & gas production rising
|RESTRAINTS||• High cost of AUV’s
• Communication system failure
Frequently Asked Questions (FAQ) :
Table of Content:
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Unmanned Underwater Vehicles Market, by Product Vehicles
8.1 High-capacity Electric Vehicles
8.2 Work Class Vehicles
8.3 Heavy Work Class Vehicles
8.4 Man portable
8.5 Light Weight Vehicles
8.6 Heavy Weight Vehicles
9. Unmanned Underwater Vehicles Market, by Application
9.1 Commercial Exploration
9.3 Scientific Research
10. Unmanned Underwater Vehicles Market, by Type
10.1 Remotely Operated Vehicle
10.2 Autonomous Underwater Vehicle
11. Unmanned Underwater Vehicles Market, by Propulsion System
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13 Company Profiles
13.1 International Submarine Engineering
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Bluefin Robotics
13.3 Boston Engineering Corporation
13.4 BAE Systems.
13.5 SAAB Seaeye
13.6 Kongsberg Gruppen
13.7 Lockheed Martin Corporation
13.8 Oceaneering International Inc.
13.9 Teledyne Technologies
13.10 Atlas Elektronik
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share analysis
14.3 Recent Developments
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.