Companies covered in Unmanned Underwater Vehicles (UUV) market are Boeing (The U.S.), Fugro (The Netherlands), General Dynamics Corporation (The U.S.), International Submarine Engineering (Canada), KONGSBERG (Norway), L3Harris Technologies, Inc. (The U.S.), Lockheed Martin Corporation (The U.S.), Oceaneering International, Inc. (The U.S.), Saab AB (Sweden), Teledyne Technologies Incorporated (The U.S.), and players profiled.
Pune, India, Nov. 29, 2021 (GLOBE NEWSWIRE) -- The global unmanned underwater vehicles market size is expected to reach USD 9,502.7 million by 2028, exhibiting a CAGR of 17.59% during the forecast period. The increasing application of UUVs in underwater search and survey, communication, navigation, and maritime surveillance will propel the healthy growth of the market, states Fortune Business Insights, in a report, titled “Unmanned Underwater Vehicles (UUV) Market, 2021-2028.” The market size stood at USD 2,960.8 million in 2020.
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The Report Lists the Key Players in the Unmanned Underwater Vehicles Market:
Boeing (The U.S.)
Fugro (The Netherlands)
General Dynamics Corporation (The U.S.)
International Submarine Engineering (Canada)
L3Harris Technologies, Inc. (The U.S.)
Lockheed Martin Corporation (The U.S.)
Oceaneering International, Inc. (The U.S.)
Saab AB (Sweden)
Teledyne Technologies Incorporated (The U.S.)
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What Does the Report Contain?
The report offers an insight into the profitability, entire structure, and scale. It also studies the drivers and restraints and considers all the potential threats to the market. The critical analysis of marketplace sections, prediction analysis, and expert insights are strategically included in the Unmanned Underwater Vehicles (UUV) report. A wide spectrum of data, including regional analysis, market segmentation, industry developments, and key players, are included in the research conducted by market experts.
Surging Deep Water Oil & Gas Production to Facilitate Growth
The increasing gas and oil production and exploration activities will have a tremendous impact on the global market. For instance, in 2019, the Gulf of Mexico observed new oil discoveries by key companies such as Shell, Chevron, Repsol, and Equinor. Shell has been successful in deep-water well-exploration projects. The new exploration project is expected to produce more than 900,000 barrels of oil by 2020. The increasing energy demand will subsequently accelerate deep-sea exploration, which, in turn, will aid the expansion of the market.
The oil & gas industry is expected to account for the lion’s share in the world’s primary energy supply by 2050. The increasing utilization of unmanned underwater vehicles in the oil and gas industry can have an outstanding effect on the market in the forthcoming years. Moreover, the increasing commercial applications such as seafloor mapping or seabed imaging and pipeline disruption study in the sea environment will foster healthy unmanned underwater vehicles market growth.
Increasing Investments in the Defense Sector to Augment Growth in Asia Pacific
North America is expected to hold the largest UUVs market share during the forecast period. The United States is the largest producer, operator, and exporter of UUVs globally. The increasing use of remotely operated vehicles (ROVs) in commercial and defense sectors will promote the expansion of North America's market. Asia Pacific is expected to experience a significant growth rate during the forecast period. The growth is attributed to the increasing investments in the defense sector from several countries such as India, China, Japan, South Korea, and others.
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Detailed Table of Content:
Definitions and Assumptions
Key Industry Developments –Mergers, Acquisitions and Partnerships
Latest technological Advancements
Porters Five Forces Analysis
Supply Chain Analysis
Market Analysis, Insights and Forecast – By Type
Market Analysis, Insights and Forecast – By System
Market Analysis, Insights and Forecast – By Technology
Market Analysis, Insights and Forecast – By Application
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