Overview of Unmanned Underwater Vehicles Market – Growth Prospects from 2014

Unmanned drones or underwater vehicles are taking up a number of roles in the navies and defense forces around the world. As the name suggests these vehicles are capable of operating without a human operator. They are either remotely operated (ROVs) or autonomous (AUVs), both of which are operated without any direct human inputs. The US Navy is also working towards creating fully operational underwater drones for oceanic warfare. Apart from the warfare, these vessels are highly popular across the scientific research as well as oil and gas industries. The global unmanned underwater vehicles market is gaining hopes from the increasing research activities and applications around the world. The steady growth of the global industry is a positive growth aspect for the companies operating in the industry as well.

Segmentation in Underwater Drones Market

The global unmanned underwater vehicles market is segmented on the basis of the types of products, and their applications. The geographic segmentation of the industry is based on the geographic regions as well as countries. Following are the details of the same:

  • Products: Autonomous underwater vehicles (large, medium and small) and remotely operated vehicles (work class and eyeball class)
  • Applications: Petroleum(survey, seabed mapping, cable inspection and offshore drilling), military (security and surveillance, anti-submarine warfare and environment security), and scientific research (environment monitoring, oceanographic surveys, seabed imaging and mapping)
  • Geography: Asia Pacific, North America, Latin America, Europe, Middle East and the rest of the world (RoW)
  • Country: UK, US, UAE, Canada, India, China, France, Japan, Germany, Brazil, Russia, Australia and Norway

Drivers and Forecasts (2014-2019)

Demand in the unmanned underwater vehicles market including in the AUVs and ROVs is driven by the rising application segment of the industry. Growth in demand from the offshore drilling, underwater maintenance and inspection, oceanographic studies, and such other undersea activities are driving the growth in this market. Growing applications in oceanic warfare to detect underwater traps and mines is also expected to contribute to the revenue channels. Commercialization of the AUVs and ROVs and increasing investments in the industry are also some of the significant drivers for the overall progress of the market. All these factors are collectively expected to contribute to the rise of this industry.

According to the latest market research reports, the global unmanned underwater vehicles market is expected to grow at an impressive CAGR. The ROV market is set to grow at an estimated CAGR of over 20% and the AUV market is expected to grow at a CAGR of over 31% from 2014 to 2019. Collectively, the underwater drones market is set to become worth more than $4.84 Billion by 2019.