PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1261231
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1261231
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.
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.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable