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The global unmanned underwater vehicle (UUV) industry is being driven by rising demand for UUV solutions in the oil and gas industry for underwater exploration. This can be attributed to the rising energy demand across various end use industries. Moreover, the heightened investments in the scientific exploration of sea and ocean floor are leading to the increased deployment of unmanned underwater vehicles, which are predicted bolster the industry growth in the forecast period. Additionally, the rapid technological advancements to improve the underwater communication and development of efficient propulsion system are estimated to aid the market growth in the coming years.
The rising emphasis of the leading market players in the manufacturing and development of efficient unmanned underwater vehicle mechanisms for diverse applications is estimated to significantly catalyse the industry growth in the forecast period. For instance, in July 2019, Oceaneering International Inc. (NYSE: OII) announced the receival of a contract to perform the first-ever deepwater autonomous underwater vehicle survey at the BHP-operated Trion block in Mexican waters. Furthermore, another leading unmanned underwater vehicle vendor, SAAB AB (OTCMKTS: SAABF), signed a contract with Ocean Infinity, a leading marine robotics company, to sell 10 of its new electric work remotely operated vehicles (eWROV) in November 2021. These developments are expected to positively impact the growth of the unmanned underwater vehicle (UUV) industry in the forecast period.
Market Breakup by Type, Application, Pay Load, Propulsion System, Product Type, and Region:
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The major players in the global unmanned underwater vehicle (UUV) market are Oceaneering International Inc., General Dynamics Mission Systems, Inc., TechnipFMC plc, Boston Engineering Corporation, BaltRobotics Sp.z.o.o., and Saab AB, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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