The global UUV market size is projected to grow from USD 2.0 billion in 2020 to USD 4.4 billion by 2025, at a CAGR of 16.4% from 2020 to 2025. The market is driven by various factors, such as such as the growing number of deep-water offshore oil & gas production activities and increasing maritime security threats. The UUV market includes major players Lockheed Martin Corporation (US), Saab AB (Sweden), Kongsberg Gruppen (Norway), Northrop Grumman Corporation (US), Oceaneering International, Inc. (US). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and South America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect UUV production and services by 25–30% globally in 2020. Work Class Vehicles: The largest market share segment of the remotely operated vehicles market, by product type“ Work class vehicles is the product type segment contributing the largest share of the remotely operate vehicles market.Work class vehicles that weigh about 700 kg are known as light work class ROVs.
These vehicles are used in engineering and scientific research to capture, measure, construct, or conceal items underwater.The maximum depth range for light work class ROVs is between 2,000 and 3,000 meters.
Work class ROVs with robotic arm manipulators are used to grasp objects, pumps, and brushes for cleaning operations as well as for underwater pipeline or deep water rig construction. The electronic instruments used in work class ROVs include underwater cameras and lights; acoustic positioning instruments; Conductivity, Temperature, and Depth (CTD) recording instruments; tracking systems; and side-scan, bottom scan, and multi-beam sonar.
Electric Propulsion: largest market share segment of the remotely operated vehicles market, by propulsion type “
The electric propulsion is the fastest-growing segment of the UUV market.Electric systems contain lithium-ion batteries that are used in ROVs.
The lithium-ion batteries are used in small ROVs for increased endurance and greater operating range. These batteries are commonly used in combination with other propulsion systems for improving the efficiency and reliability of ROVs.
Asia Pacific: The fastest-growing region in the ROV market.
Asia Pacific is projected to be the highest CAGR rate for the ROV market during the forecast period.The offshore industry is the Asia Pacific region is anticipated to witness positive growth.
The oil & gas blocks in the South China Sea are expected to propel exploration activities in the near future. Furthermore, the approval granted by the government of New Zealand to carry out offshore drilling is projected to influence the utilization of UUVs for further seismic surveys.
Breakdown of primaries The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows: • By Company Type: Tier 1–25%; Tier 2–45%; and Tier 3–30% • By Designation: C Level–30%; Directors–30%; and Others–40% • By Region: North America–45%; Europe–30%; Asia Pacific–15%; Middle East–5%; and South America & Africa-5%
Lockheed Martin Corporation (US), Saab AB (Sweden), Kongsberg Gruppen (Norway), Northrop Grumman Corporation (US), Oceaneering International, Inc. (US) are some of the leading players operating in the UUV market report.
Research Coverage The study covers the UUV market across various segments and subsegments.It aims at estimating the size and growth potential of this market across different segments based on UUV Market By Type, ROV Market by System, By Application, By Product Type, By Propulsion System, AUV Market by System, By Application, By Propulsion Type, By Speed, By Depth, By Shape and region.
This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
Reasons to Buy this Report This report is expected to help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall UUV Market and its segments.This study is also expected to provide region wise information about the applications, and wherein UUV is used.
This report aims at helping the stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies. This report is also expected to help them understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.
Our reports have been used by over 10K customers, including:
The 3D metrology market is estimated to grow from USD 9.6 billion in 2021 to reach USD 13.4 billion by 2026; it is expected to grow at a CAGR of 6.8% from 2021 to 2026. A few key factors driving the growth of this market are increased R&D spending on 3D metrology, focus on quality control while manufacturing goods, and demand for higher productivity...
The high-performance computing market is expected to witness a CAGR of 6.13% over the forecast period from 2020 to 2025. Factors, such as increasing investments in the Industrial Internet of Things (IIoT), artificial intelligence (AI), and engineering, which demand electronic design automation (EDA), are likely to drive the market over the...
The Project Management Software market is expected to register a CAGR of 10.67% during the forecast period (2020 - 2025). As today’s corporations increase in size and complexity, an all-inclusive solution is needed to manage and coordinate an entire organization’s portfolio of different projects. These solutions help the management to shuffle...
The software-defined radio market size is projected to grow from USD 11.4 billion in 2020 to USD 14.5 billion by 2025, at a CAGR of 4.9% from 2020 to 2025. Factors such as the rising adoption of SDRs in telecommunications and numerous technological developments in software-defined radios are likely to drive the market growth. The increasing...
In terms of revenue, the global indoor cycling software market was valued at US$ 142.1 million in 2019 and is expected to grow at a CAGR of 8.6% during the forecast period of 2020 to 2027 to reach US$ 274.5 million by 2027. Indoor cycling is an efficient way to exercise at home or at gyms and fitness centers.The importance of health...
The catering software market was valued at US$ 184.29 million in 2019 and is projected to reach US$ 519.14 million by 2027; it is expected to grow at a CAGR of 14.4% from 2020 to 2027. Catering software manages the various business functions such as management of food processing and distribution for the catering, planning of event,...
The global employee communication software market was valued at US$ 739.43 million in 2019 and is expected to grow at a CAGR of 11.8% during the forecast period of 2020 to 2027 to reach US$ 1,780.09 million by 2027. Internal organizational communication plays a crucial role in driving collaboration, productivity, and workforce engagement...
The simulation software market was valued at USD 8.24 billion in 2019, and it is expected to reach USD 19.22 billion by 2025. The market is expected to witness a CAGR of 15.14% during the forecast period (2020 - 2025). Initially, simulation software was only used to tweak production lines. But in the current market scenario, it is being used...
The global business rules management system market size would grow from USD 1.0 billion in 2020 to USD 1.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 11.8% during the forecast period. The growth of the business rules management system market can be attributed to reduced dependency on IT teams for writing business rules and...
The trade finance software market was valued at US$ 1394.9 million in 2019 and it is projected to reach US$ 2920.4 million by 2027; it is expected to grow at a CAGR of 10.3% from 2020 to 2027. The increasing focus of enterprises toward digitization and rising adoption of cloud-based solution deployment are some of the key driving factors...
Number Of Small And Medium-Sized Enterprises
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.