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Global Unmanned Underwater Vehicles Market to reach USD 9.90 billion by the end of 2029.

Global Unmanned Underwater Vehicles Market Size study & Forecast, by Type (Remotely Operated Vehicle (ROV), Autonomous Underwater Vehicle (AUV)), By Product Type (Small Vehicle, High-Capacity Electric Vehicle, Work Class Vehicle, Heavy Work Class Vehicle), By Propulsion System (Electric System, Mechanical System, Hybrid System), By Application (Commercial Exploration, Scientific Research, Defense, Miscellaneous), By Payload (Camera, Sensors, Inertial Navigation Systems, Others), and Regional Analysis, 2022-2029

Product Code: ALTAWT-55297974
Publish Date: 17-04-2023
Page: 200

Global Unmanned Underwater Vehicles Market is valued at approximately USD 3.02 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 16.0% over the forecast period 2022-2029. Unmanned underwater vehicles (UUVs) are robotic devices that operates autonomously in seawater. UUV is highly adopted for underwater commercial, security, and scientific research as well as for ocean exploration projects. These vehicles are gaining high traction in various applications including navigation, underwater search and survey, maritime surveillance, communication, and others. The flourishing growth of the oil & gas industry, rising concerns over maritime security and naval cross-border threats, coupled with the increasing development of underwater artificial intelligence systems are the primary factors that are propelling the market demand across the globe.

In addition, the increasing deep-water oil & gas production owing to the surge in demand for energy resources is further excels the market expansion. For instance, CNOOC- China based state-owned offshore oil and gas company, has declared a rise in capital spending from USD 12.3 billion to USD 13.7 billion (CNY 85.0 billion to CNY 95.0 billion) during 2020. n the same year, the company planned to drill 227 exploratory wells and collect 3D seismic data covering 27,000 square kilometers. Consequentially, the growing capital expenditure of offshore oil & gas companies is directly associated with the growth of the unmanned underwater vehicles market. Furthermore, the growing use of UUVs for mine disposal & anti-submarine warfare operations, as well as the rising innovations in the innovations in Unmanned underwater vehicles are presenting various lucrative opportunities over the forecasting years. However, the high cost of UUVs and lack of effective communication systems are hindering market growth over the forecast period of 2022-2029.

The key regions considered for the Global Unmanned Underwater Vehicles Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific dominated the market in terms of revenue, owing to the increasing adoption of remotely operated vehicles (ROVs) in commercial and defense sectors, along with the presence of key market players. Whereas, Asia Pacific is also expected to grow at the highest growth rate over the forecasting period. Factors such as the growing investments in the defense sector, as well as the rising contracts with UUV OEMs from different countries are burgeoning the market growth in the forecasting years.

Major market players included in this report are:
General Dynamics Corporation
International Submarine Engineering
L3Harris Technologies, Inc.
Lockheed Martin Corporation
Oceaneering International, Inc.
Saab AB
Teledyne Technologies Incorporated
Recent Developments in the Market:
Ø In 2022, Kongsberg Maritime declared that the company is intended to supply Polish shipbuilder Remontowa Shipbuilding SA (RSB) to three shipsets of Kongsberg HUGIN AUV (Autonomous Underwater Vehicle) systems and associated HiPAP positioning and communication systems for three newbuild warships for the Polish Navy.
Ø In 2022, Boeing announced that the company has received a reward of USD 72.5 million from The US Navy in order to provide a prototype of a very large, unmanned submarine for testing purposes, ahead of five of the same models already in production.

Global Unmanned Underwater Vehicles Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Product Type, Propulsion System, Application, Payload, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Remotely Operated Vehicle (ROV)
Autonomous Underwater Vehicle (AUV)
By Product Type:
Small Vehicle
High-Capacity Electric Vehicle
Work Class Vehicle
Heavy Work Class Vehicle
By Propulsion System:
Electric System
Mechanical System
Hybrid System
By Application:
Commercial Exploration
Scientific Research
By Payload:
Inertial Navigation Systems
By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Unmanned Underwater Vehicles Market, by Region, 2019-2029 (USD Billion)
1.2.2. Unmanned Underwater Vehicles Market, by Type, 2019-2029 (USD Billion)
1.2.3. Unmanned Underwater Vehicles Market, by Product Type, 2019-2029 (USD Billion)
1.2.4. Unmanned Underwater Vehicles Market, by Propulsion System, 2019-2029 (USD Billion)
1.2.5. Unmanned Underwater Vehicles Market, by Application, 2019-2029 (USD Billion)
1.2.6. Unmanned Underwater Vehicles Market, by Payload, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Unmanned Underwater Vehicles Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Unmanned Underwater Vehicles Market Dynamics
3.1. Unmanned Underwater Vehicles Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Rising concerns over maritime security and naval cross-border threats Increase in deep-water oil & gas production
3.1.2. Market Challenges High cost of UUV Lack of effective communication system
3.1.3. Market Opportunities Growing use of UUVs for mine disposal & anti-submarine warfare operations Rising innovations in innovations in Unmanned underwater vehicles
Chapter 4. Global Unmanned Underwater Vehicles Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Unmanned Underwater Vehicles Market, by Type
6.1. Market Snapshot
6.2. Global Unmanned Underwater Vehicles Market by Type, Performance – Potential Analysis
6.3. Global Unmanned Underwater Vehicles Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
6.4. Unmanned Underwater Vehicles Market, Sub Segment Analysis
6.4.1. Remotely Operated Vehicle (ROV)
6.4.2. Autonomous Underwater Vehicle (AUV)
Chapter 7. Global Unmanned Underwater Vehicles Market, by Product Type
7.1. Market Snapshot
7.2. Global Unmanned Underwater Vehicles Market by Product Type, Performance – Potential Analysis
7.3. Global Unmanned Underwater Vehicles Market Estimates & Forecasts by Product Type 2019-2029 (USD Billion)
7.4. Unmanned Underwater Vehicles Market, Sub Segment Analysis
7.4.1. Small Vehicle
7.4.2. High-Capacity Electric Vehicle
7.4.3. Work Class Vehicle
7.4.4. Heavy Work Class Vehicle
Chapter 8. Global Unmanned Underwater Vehicles Market, by Propulsion System
8.1. Market Snapshot
8.2. Global Unmanned Underwater Vehicles Market by Propulsion System, Performance – Potential Analysis
8.3. Global Unmanned Underwater Vehicles Market Estimates & Forecasts by Propulsion System 2019-2029 (USD Billion)
8.4. Unmanned Underwater Vehicles Market, Sub Segment Analysis
8.4.1. Electric System
8.4.2. Mechanical System
8.4.3. Hybrid System
Chapter 9. Global Unmanned Underwater Vehicles Market, by Application
9.1. Market Snapshot
9.2. Global Unmanned Underwater Vehicles Market by Application, Performance – Potential Analysis
9.3. Global Unmanned Underwater Vehicles Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
9.4. Unmanned Underwater Vehicles Market, Sub Segment Analysis
9.4.1. Commercial Exploration
9.4.2. Scientific Research
9.4.3. Defense
9.4.4. Miscellaneous
Chapter 10. Global Unmanned Underwater Vehicles Market, by Payload
10.1. Market Snapshot
10.2. Global Unmanned Underwater Vehicles Market by Payload, Performance – Potential Analysis
10.3. Global Unmanned Underwater Vehicles Market Estimates & Forecasts by Payload 2019-2029 (USD Billion)
10.4. Unmanned Underwater Vehicles Market, Sub Segment Analysis
10.4.1. Camera
10.4.2. Sensors
10.4.3. Inertial Navigation Systems
10.4.4. Others
Chapter 11. Global Unmanned Underwater Vehicles Market, Regional Analysis
11.1. Unmanned Underwater Vehicles Market, Regional Market Snapshot
11.2. North America Unmanned Underwater Vehicles Market
11.2.1. U.S. Unmanned Underwater Vehicles Market Type breakdown estimates & forecasts, 2019-2029 Product Type breakdown estimates & forecasts, 2019-2029 Propulsion System breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029 Payload breakdown estimates & forecasts, 2019-2029
11.2.2. Canada Unmanned Underwater Vehicles Market
11.3. Europe Unmanned Underwater Vehicles Market Snapshot
11.3.1. U.K. Unmanned Underwater Vehicles Market
11.3.2. Germany Unmanned Underwater Vehicles Market
11.3.3. France Unmanned Underwater Vehicles Market
11.3.4. Spain Unmanned Underwater Vehicles Market
11.3.5. Italy Unmanned Underwater Vehicles Market
11.3.6. Rest of Europe Unmanned Underwater Vehicles Market
11.4. Asia-Pacific Unmanned Underwater Vehicles Market Snapshot
11.4.1. China Unmanned Underwater Vehicles Market
11.4.2. India Unmanned Underwater Vehicles Market
11.4.3. Japan Unmanned Underwater Vehicles Market
11.4.4. Australia Unmanned Underwater Vehicles Market
11.4.5. South Korea Unmanned Underwater Vehicles Market
11.4.6. Rest of Asia Pacific Unmanned Underwater Vehicles Market
11.5. Latin America Unmanned Underwater Vehicles Market Snapshot
11.5.1. Brazil Unmanned Underwater Vehicles Market
11.5.2. Mexico Unmanned Underwater Vehicles Market
11.5.3. Rest of Latin America Unmanned Underwater Vehicles Market
11.6. Rest of The World Unmanned Underwater Vehicles Market

Chapter 12. Competitive Intelligence
12.1. Top Market Strategies
12.2. Company Profiles
12.2.1. Boeing Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
12.2.2. Fugro
12.2.3. General Dynamics Corporation
12.2.4. International Submarine Engineering
12.2.6. L3Harris Technologies, Inc.
12.2.7. Lockheed Martin Corporation
12.2.8. Oceaneering International, Inc.
12.2.9. Saab AB
12.2.10. Teledyne Technologies Incorporated
Chapter 13. Research Process
13.1. Research Process
13.1.1. Data Mining
13.1.2. Analysis
13.1.3. Market Estimation
13.1.4. Validation
13.1.5. Publishing
13.2. Research Attributes
13.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
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Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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