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Unmanned Underwater Vehicles (UUV) Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies- Forecasts to 2022

Unmanned underwater vehicle market will grow from $2.69 Billion to $5.20 Billion, at a CAGR of 14.07% from 2017-2022 with commercial exploration segment of the Remotely Operated Vehicle (ROV) market expected to witness the highest growth during the forecast period led by North America Region

Unmanned Underwater Vehicles (UUV) Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies- Forecasts to 2022

Pune, India - July 5, 2017 /MarketersMedia/

“The rising number of deep-water offshore oil & gas production activities is a key factor expected to drive the demand for Unmanned Underwater Vehicles (UUVs), globally”

The unmanned underwater vehicle market is expected to grow from an estimated USD 2.69 billion in 2017 to USD 5.20 billion by 2022, at a CAGR of 14.07% from 2017 to 2022. The growth of the market can be attributed to the rising number of deep-water offshore oil & gas production activities and increasing maritime security threats. Declining military budgets in developed economies, especially the US, which is one of the key consumers of UUVs, can restrain the growth of the unmanned underwater vehicle market.

Browse 119 Market Data Tables and 99 Figures spread through 294 Pages and in-depth TOC on "Unmanned Underwater Vehicles (UUV) Market - Global Forecasts to 2022"
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Key players operating in the global unmanned underwater vehicle (UUV) market include Teledyne Technologies (US), Fugro (The Netherlands), Subsea 7 (UK), Kongsberg Maritime (Norway), and Oceaneering International Inc. (US). Long-term contracts and new product launches are the two major growth strategies adopted by key players to strengthen their position and enhance their product offerings in the market.

“The commercial exploration segment of the of the Remotely Operated Vehicle (ROV) market is expected to witness the highest growth during the forecast period”

Based on application, the remotely operated vehicle (ROV) market has been segmented into commercial exploration, defense, scientific research, and miscellaneous. The commercial exploration segment of the market is expected to witness the highest growth during the forecast period. ROVs are used for several commercial applications, such as survey and seabed mapping, offshore drilling, pipelining, cabling, and inspection several others.

Based on type, the unmanned underwater vehicle market has been segmented into Remotely Operated Vehicle (ROV) and Autonomous Underwater Vehicle (AUV). The remotely operated vehicle market is estimated to be a larger market in 2017, due to the high demand for high-powered ROVs for ultra-deep sea ocean levels drilling.

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“North America is estimated to be the largest market for unmanned underwater vehicles in 2017”

North America is estimated to be the largest market for unmanned underwater vehicles (UUVs) in 2017. The US is the largest developer, operator, exporter, and consumer of UUVs, globally, which is expected to support the growth of the market in North America.

“Break-up of profile of primary participants for the unmanned underwater vehicle market”

By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%, By Designation: C level – 35%, Director level – 25%, Others – 40%, By Region: North America – 45%, Europe – 20%, Asia Pacific – 30%, RoW – 5% major companies profiled in the report include Teledyne Technologies (US), Subsea 7 (UK), Kongsberg Maritime (Norway), and Oceaneering International Inc. (US).

Research Coverage of UUV Market:

This research report categorizes the unmanned underwater vehicle market based on type (remotely piloted vehicle (ROV) and autonomous underwater vehicle (AUV) ), ROV product type (small vehicles, high-capacity electric vehicles, work class vehicles, and heavy work class vehicles), AUV product type (man-portable vehicles, lightweight vehicles, heavyweight vehicles. and large vehicles), application (commercial exploration, defense, scientific research, and miscellaneous), propulsion (electric systems, mechanical systems, hybrid systems, and others), payload (sensors, lasers, camera, radars, and others) and maps these segments and sub-segments across the major regions of the world, namely, North America, Europe, Asia Pacific, the Middle East, Latin America and Africa.

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Release ID: 214413

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