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Unmanned Underwater Vehicles (UUV) Market is Using for Different Operation in Industry
According to Shama Lunia, Senior Research Associate of the Aerospace and Defense business unit at MarketsandMarkets, “The Unmanned Underwater Vehicles (UUV) market is expected to show a substantial growth by 2019. The global ROV (Remotely Operated Vehicles) market is expected to register a CAGR of 20.11% to reach $3.01 billion in 2019 and the global AUV market is expected to register a CAGR of 31.95% to reach $1.83 billion in 2019.”
Asia-Pacific, Latin America, and Africa, show a consistent level of growth. Japan, China, Brazil, Norway, and India, are the emerging markets of UUV and will also show a reliable growth over the next few years.
There will be an increasing demand in offshore drilling activities to serve the global energy needs. The ROV market will show a significant increase in this sector. The need for seabed mapping and oceanographic environmental study for safeguarding the environment will be a key factor in the use of the UUV for scientific research purposes. The driving factor for this market will be the emergence of AIP (Air Independent Propulsion) systems and miniaturization in AUV, and the increased operational efficiency of the ROV to perform complex operations using various payloads.
Stringent market growth will be seen in countries such as Nigeria, Angola, Brazil, Chile, and, New Zealand, for the oil and gas sector and the countries such as China, Japan, and India, for the scientific research sector. The North American and European regions will show a comparatively sluggish growth over the next five years. There will be a slight decline in the global share of advanced markets defense budget cuts and the economic crisis.
SAAB (Sweden), Fugro (The Netherlands), Oceaneering (U.S.), will be the market leaders that occupy a significant market share for ROV. Kongsberg (Norway), Teledyne (U.S.), Bluefin Robotics (U.S.), and Atlas Elekronik (Germany), will be the leaders in the AUV market.
With the increased capabilities and technological advancements in the UUV, the market will see a significant growth in military and energy segments.
Unmanned Underwater Vehicles Market by Product (Autonomous Underwater Vehicle, Remotely Operated Vehicle), Application (Defense, Oil and Gas, Scientific Research), Region & Country - Global Trends & Forecasts to 2014 - 2019
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