Global Unmanned Underwater Vehicles Market

Global Unmanned Underwater Vehicles Market Size, Share, Growth Analysis, By Type (Autonomous Underwater Vehicles (AUVs), Remotely Operated Vehicles (ROVs)), By Application (Naval & Coastal Defense, Oceanography), By End User (Research Institutes, Commercial), By Region -Industry Forecast 2025-2032

Report ID: SQMIG20T2019 | Region: Global | Published Date: December, 2024
Pages: 167 | Tables: 125 | Figures: 69

Unmanned Underwater Vehicles Market News

  • In September 2024, the Indian Navy received the clearance to build 100 tonne unmanned underwater vessels from the Ministry of Defence, India. The move is aimed to improve maritime capabilities of India and enhance defense on its eastern and western seaboards.
  • In August 2023, a new autonomous underwater vehicle (AUV) was launched by Garden Reach Shipbuilders and Engineers (GRSE). The AUV is called Neerakshi and was a result of a collaborative effort of GRSE and Aerospace Engineering Private Limited (AEPL) to strengthen India’s underwater vehicle fleet capabilities.
  • In July 2023, L3Harris, a leading American defense contractor became the first company to launch and recover an autonomous underwater vehicle from an underway submarine. The company leveraged its Iver4 AUV technology for this feat and bolstered its presence in the global unmanned underwater vehicles industry.
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Global Unmanned Underwater Vehicles Market size was valued at USD 2.61 Billion in 2022 and is poised to grow from USD 3.02 Billion in 2023 to USD 8.32 Billion by 2031, at a CAGR of 13.5% during the forecast period (2024-2031).

Unmanned underwater vehicles manufacturers should focus on extending the range of their offerings to make them suitable for long duration missions. Integrating artificial intelligence to improve autonomous capabilities of unmanned underwater vehicles is also slated to be a key trend for unmanned underwater vehicles providers in the future. Targeting countries with increased military and defense budgets is slated to be a key strategy for all unmanned underwater vehicles suppliers across the study period and beyond. 'Lockheed Martin', 'ThyssenKrupp (Atlas Elektronik GmbH)', 'General Dynamics', 'L3 Ocean Server', 'Saab', 'Kongsberg Gruppen ASA', 'FUGRO NV-CVA', 'StedY - Groupe Gorgé (ECA Group)', 'International Submarine Engineering Ltd.', 'Boston Engineering', 'Mitsubishi Heavy Industries', 'KNIFEFISH & Bluefin'

Growing emphasis on improving security around the world and rising spending on maritime security are projected to bolster the demand for unmanned underwater vehicles over the coming years. These vehicles are highly crucial in defense and military operations being performed in harsh conditions where risking human lives is not preferred.

Integration of Artificial Intelligence: Unmanned underwater vehicle companies can focus on integrating artificial intelligence technologies with their offerings to improve their unmanned capabilities. The use of artificial intelligence can help enhance decision-making, autonomous navigation, and real-time data analysis capabilities for unmanned underwater vehicles thereby increasing their functionality and application scope as well.

North America is forecasted to account for a dominant share of the global unmanned underwater vehicles market forecast. Rapid adoption of unmanned underwater vehicles in commercial as well as defense applications is the key factor cementing the dominance of this region. High spending on military and defense, presence of key unmanned underwater vehicles suppliers, and growing underwater exploration activity are other factors creating new opportunities in the North American region. The United States and Canada are estimated to emerge as the most opportune markets in this region owing to rising spending on military and defense as well as oceanographic research.

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Global Unmanned Underwater Vehicles Market

Report ID: SQMIG20T2019

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