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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Unmanned Underwater Vehicle (UUV) Market Outlook
The global unmanned underwater vehicle (UUV) market stood at a value of around USD 5.11 billion in 2023. The market is further expected to grow at a CAGR of 14.50% in the forecast period of 2024-2032 to attain a value of USD 17.32 billion by 2032.
Increasing Demand for Autonomous Underwater Vehicles (AUVs) to Aid the Global Unmanned Underwater Vehicle (UUV) Industry
Based on type, the autonomous underwater vehicle (AUV) segment is predicted to hold a significant market share in the unmanned underwater vehicle (UVV) industry. This growth can be attributed to the increased demand for autonomous underwater vehicles for ocean mapping and the identification of shipwrecks or rocks underwater. In addition, technologically advanced sensors enable autonomous underwater vehicles to function in unchartered territory and deliver accurate data. These factors are expected to contribute to the overall market growth in the forecast period.
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North America to Occupy a Significant Market Share in the Global Unmanned Underwater Vehicle (UUV) Industry
North America is predicted to possess a significant share of the unmanned underwater vehicle (UVV) industry in the forecast period. This growth can be attributed to the heightened deployment of unmanned underwater vehicles for defence and commercial activities in the region. In addition, the rising demand for autonomous underwater vehicles to aid in underwater exploration for the oil and gas industry is also predicted to propel the market growth. Meanwhile, the Asia Pacific region is also projected to witness an increased demand for unmanned underwater vehicles in the coming years.
Unmanned Underwater Vehicle (UVV): Market Segmentation
Unmanned underwater vehicle (UVV) refers to a submersible vehicle, which can be operated without manual intervention and can be operated remotely or independently. These are essential in underwater exploration activities, as manual exploration poses a number of challenges. These vehicles carry built-in sensors for video cameras, thrusters, sonar, and others.
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By type, the market is divided into:
- Remotely Operated Vehicle (ROV)
- Autonomous Underwater Vehicle (AUV)
- Hybrid Underwater Vehicle (HUV)
On the basis of application, the market can be segmented into:
- Commercial Exploration
- Defence
- Scientific Research
- Others
Based on payload, the industry can be segregated into:
- Sensors
- Synthetic Aperture Sonar
- Cameras
- Inertial Navigation Systems
- Others
On the basis of propulsion system, the market can be distributed into:
- Mechanical
- Electric
- Hybrid
- Others
Based on product type, the market can be categorised into:
- Small Vehicles
- High-Capacity Electric Vehicles
- Work Class Vehicles
- Heavy Work Class Vehicles
- Man Portable
- Light Weight Vehicles
- Heavy Weight Vehicles
- Large Vehicles
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Heightened Demand in the Oil and Gas Industry to Drive the Global Unmanned Underwater Vehicle (UUV) Industry
The increased demand for unmanned underwater vehicles for exploration activities among the oil and gas manufacturers is projected to significantly stimulate the industry growth in the forecast period. This can be associated with the rising energy demands across industry verticals, fuelled by the rapidly increasing global population. In addition, the growing investments by the governments in ocean exploration and the development of defence and warfare technology are anticipated to augment the market growth. Moreover, the rapid technological advancements are estimated to propel the market growth in the forecast period. For instance, in October 2021, QYSEA Technology Co., Ltd., a remotely operated vehicle manufacturer, collaborated with Water Linked to equip QYSEA’s ROV with advanced underwater positioning sensors. These factors are estimated to positively impact the market growth in the forecast period.
Key Industry Players in the Global Unmanned Underwater Vehicle (UUV) Market
The report gives a detailed analysis of the following key players in the global unmanned underwater vehicle (UUV) market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Oceaneering International Inc.
- General Dynamics Mission Systems, Inc.
- TechnipFMC plc
- Boston Engineering Corporation
- BaltRobotics Sp.z.o.o.
- Saab AB
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Payload |
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| Breakup by Propulsion System |
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| Breakup by Product Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global unmanned underwater vehicle (UUV) market attained a value of nearly USD 5.11 billion.
The market is projected to grow at a CAGR of 14.50% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 17.32 billion by 2032.
The major drivers of the industry, such as the increased demand for ocean exploration activities, rapid technological advancements, heightened government investments in the development of underwater defence infrastructure, and the rising investments in the research and development of unmanned underwater vehicle technology by the leading manufacturers, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the increased demand in the oil and gas industry.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant types include remotely operated vehicle (ROV), autonomous underwater vehicle (AUV), and hybrid underwater vehicle (HUV).
The significant applications include commercial exploration, defence, scientific research, and others.
The significant payloads include sensors, synthetic aperture sonar, cameras, inertial navigation systems, and others.
The different propulsion systems include mechanical, electric, hybrid, and others.
The major product types, include small vehicles, high-capacity electric vehicles, work class vehicles, heavy work class vehicles, man portable, light weight vehicles, heavy weight vehicles, and large vehicles.
The major players in the industry are Oceaneering International Inc., General Dynamics Mission Systems, Inc., TechnipFMC plc, Boston Engineering Corporation, BaltRobotics Sp.z.o.o., Saab AB, and others.
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