Unmanned Underwater Vehicles (UUV) Market: Growing at a CAGR of 15.8% : Will Hit 6.22 Billion by 2028 : Says Emergen Research

The global Unmanned Underwater Vehicles (UUV) market size reached USD 1.96 Billion in 2020 and is expected to register a revenue CAGR of 15.8%, during the forecast period, according to latest analysis by Emergen Research. Some major factors driving global Unmanned Underwater Vehicles market revenue growth include rising concerns regarding coastal protection and naval cross-border threats, increasing defense spending by governments globally, and increased investments by businesses in the oil and gas industry. In addition, increasing defense spending by governments globally is expected to augment revenue growth of the market going ahead.

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Global energy consumption has grown significantly in recent years as a result of various technological advancements in across industries and sectors in developing countries. Offshore resources are becoming more important for meeting growing energy demand due to rapid degradation and depletion of traditional onshore energy resources. As a result, production lines for oil and gas have been relocated to underwater regions. Rapid technological advancements in UUVs, including better communication and access to deeper depths, are expected to increase UUV utilization in the oil and gas sector. Use of smart devices has resulted in improved operational and risk mitigation.

Some Key Highlights From the Report

Autonomous Underwater Vehicles (AUV) segment revenue is expected to expand at a significantly rapid CAGR during the forecast period. Autonomous underwater vehicles have major potential in underwater operations, and can conduct aquatic survey activities, including locating and mapping underwater wrecks, stones, and obstacles.

Electric segment is expected to lead in terms of revenue over the forecast period. Electric unmanned underwater vehicles do not require a complex support system to operate, carry a complete energy source onboard, and do not need external power, which is expected to drive up demand for these vehicles.

North America is expected to account for a larger revenue share than other regional markets over the forecast period. Increasing use of ROVs in the defense and commercial industries is expected to continue to drive revenue growth of the North America Unmanned Underwater Vehicles (UUV) market going ahead.

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Competitive Landscape:

Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.

Some major companies in the global market report include Saab AB, Lockheed Martin Corporation, Kongsberg Gruppen, The Boeing Company, Atlas Elektronik GmbH, General Dynamics Corporation, Oceaneering International, Inc., BAE Systems plc, Boston Engineering Corporation, and Bluefin Robotics Corporation

Key reasons to buy the Global Unmanned Underwater Vehicles (UUV) Market report:

The latest report comprehensively studies the global Unmanned Underwater Vehicles (UUV) market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.

The report offers an insightful analysis of the regional outlook of the market.

It offers a detailed account of the end-use applications of the products & services offered by this industry.

The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.

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Emergen Research has segmented the global Unmanned Underwater Vehicles (UUV) market on the basis of type, propulsion system, product type, payload, application, and region:

Type Outlook (Revenue, USD Billion; 2018–2028)

• Hybrid Underwater Vehicles (HUV)
• Remotely Operated Vehicles (ROV)
• Autonomous Underwater Vehicles (AUV)

Propulsion System Outlook (Revenue, USD Billion; 2018–2028)

• Electric
• Hybrid
• Others

Product Type Outlook (Revenue, USD Billion; 2018–2028)

• Small Vehicle
• Work Class Vehicle
• High-Capacity Electric Vehicle
• Heavy Work Class Vehicle

Payload Outlook (Revenue, USD Billion; 2018–2028)

• Cameras
• Sensors
• Synthetic Aperture Sonar
• Inertial Navigation Systems

Application Outlook (Revenue, USD Billion; 2018–2028)

• Scientific Research
• Commercial
• Defense
• Others

Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.

Detailed Regional Analysis covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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