29 March 2021
Visiongain has published a new report on Unmanned Underwater Vehicles Market Report to 2031: Forecasts by Type (Remotely Operated Vehicle (ROV) and Autonomous Underwater Vehicle (AUV)), By Payload (Sensors, Synthetic Aperture Sonar, Inertial Navigation Systems (INS), Cameras, Video Screens, and Others), By Application (Commercial Exploration, Offshore Drilling, Survey & Seabed Mapping, ISR (Intelligence, Surveillance, and Reconnaissance), Mine Countermeasures, and Others). PLUS, Profiles of Leading Unmanned Underwater Vehicles Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Unmanned Underwater Vehicles market was valued at US$ xx billion in xx and is projected to reach at a market value of US$ xx billion by 2031.
COVID-19 Impact on Unmanned Underwater Vehicles Market
The COVID-19 pandemic has impacted lives of people all around the globe. It has proved quite detrimental for business across the globe and no industry and remained untouched by its impacts. This pandemic has caused a serious disruption in the supply chain and has resulted in a huge supply-demand gap in the market for unmanned underwater vehicles worldwide.
Growing Deep-Water Offshore Oil & Gas Production
The growth of unmanned underwater vehicles market can be credited largely to the growing number of deep-water offshore oil & gas production activities (owing to rising demand for oil & gas) across the globe. This demand, which is mainly driven by the developing countries, is expected to grow considerably over the forecast years because oil is a primary energy source for key industries, for instance, transportation, and cannot be easily replaced by alternative energy sources.
Technologically Advanced Ocean Exploration
To conduct oceanographic studies, unmanned underwater vehicles (UUVs) have become quite popular to collect data, explore, and create 3D maps. In oil & gas industry applications,
UUVs help in the inspection and repair work for the submerged components, and also holds immense potential in the inspection, recognition, and detection missions, for instance, airplane black-boxes recovery tasks.
Some of the leading companies profiled in the report include Kongsberg Gruppen, Lockheed Martin Corporation, Oceaneering International Inc., Teledyne Technologies, Atlas Elektronik, International Submarine Engineering, Bluefin Robotics, Boston Engineering Corporation, BAE Systems, and Subsea 7.
In March 2017, Saab signed contract with U.K Navy for the delivery of AUV62-AT, anti-submarine warfare training system. In June 2017, Boeing and Huntington Ingalls Industries collaborated to design and produce Unmanned Undersea Vehicles as a part of the US Navy’s Extra Large UUV program.
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The growth of unmanned underwater vehicles market can be credited largely to the growing number of deep-water offshore oil & gas production activities (owing to rising demand for oil & gas) across the globe.