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 Insights

Unmanned Underwater Vehicles Market size was valued at USD 3.02 Billion in 2023 and is poised to grow from USD 3.43 Billion in 2024 to USD 9.44 Billion by 2032, growing at a CAGR of 13.5% during the forecast period (2025-2032).

Growing investments in improving maritime defense and security around the world and advancements in unmanned vehicle technologies are slated to drive up the demand for unmanned underwater vehicles (UUVs) going forward. Rising offshore oil & gas exploration activities around the world and growing use of unmanned underwater vehicles for environmental monitoring are also slated to boost revenue generation in the future. Use of unmanned underwater vehicles for underwater archeology and scientific research is also forecasted to boost the sales of unmanned underwater vehicles in the long run. Increasing interest in knowing more about marine life and oceanography are also promoting the use of unmanned underwater vehicles on a global scale over the coming years. On the contrary, high initial costs, technical challenges for operations, limited battery life, and cybersecurity concerns are projected to be key constraints for unmanned underwater vehicles market development across the study period and beyond.

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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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