Unmanned Underwater Vehicles Market by application expected to be worth $4.84 Billion by 2019

Unmanned Underwater Vehicles Market by Application - 2019 | MarketsandMarkets

Online PR News – 31-July-2014 – Dallas – The "Unmanned Underwater Vehicles Market by Product (Autonomous Underwater Vehicle, Remotely Operated Vehicle), Application (Defense, Oil and Gas, Scientific Research), Region & Country - Global Trends & Forecasts to 2014 - 2019" is projected to cross $4.84 billion by 2019, growing at a high CAGR from 2014 to 2019.

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The global unmanned underwater vehicles (UUV) market will exhibit a robust growth over the next few years. UUVs consist of remotely operated vehicles (ROV) and autonomous underwater vehicles (AUV) segments. ROVs are tethered underwater vehicles that carry power, command, and control signals to feed data back to the operator’s console. ROVs support limited navigation capacity, and are used for ocean exploration and port security. ROVs can be divided into eyeball-class ROVs and work-class ROVs. The eyeball-class ROV comprises of a small or mini ROV used in applications such as observation, scientific exploration, inspection, and rescue. The work-class ROV is large and heavy, making it is capable of deploying and lifting large equipment and samples for study. Bottom-crawling ROVs are used for burying cables and trenching. Structurally reliant ROVs are attached to underwater structures.

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AUVs are torpedo-shaped untethered underwater vehicles; specially programed to collect oceanographic data for an extended period with remote human supervision. AUVs are classified as gliders that are small, medium, and large based on their size. They are untethered robotic devices that are self-controlled and self-piloted by an onboard computer. Hybrid ROVs are an interesting type of ROV, which can be operated as an ROV or AUV with a tether-optional configuration. The increased maneuverability helps navigation to locations where tether would limit its ability. AUV are used in anti-submarine warfare to detect manned submarines. These are operated from submarines, whereas ROVs are operated from surface ships.

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UUV (Unmanned Underwater Vehicles) market includes the ROV (Remotely Operated Vehicles) and AUV (Autonomous Underwater Vehicles) market. The global ROV market is estimated to be $1.2 billion in 2014 and expected register a CAGR of 20.11% in 2019. The global AUV market is estimated to be $457 million in 2014 and expected register a CAGR of 31.95% in 2019.

The need for seabed mapping and oceanographic environmental study will drive the use of the UUV for scientific research purposes. Emergence of AIP (Air Independent Propulsion) systems while the miniaturization trends in AUV have proven to be driving factors for this market. AUV are majorly used for ultra-deepwater exploration, anti-submarine warfareand ISR (Intelligence, Surveillance, and Reconnaissance) activities.
The Unmanned Underwater Vehicles Market is affected by political, social, technological, and economic factors, which can have a deep impact on this market globally. The global AUV market is dominated by Asia-Pacific, Latin American, and African regions that have high investments in deep sea exploration activities. Growth in North America and Europe will be sluggish compared to these regions. Countries in the Asia-Pacific region will focus on growth, to create a prominent market for themselves, and to direct their region’s economies on a higher course in the future. The AUV market is expected to mature over the next five years. Significant investments made by the BRIC countries in the Asia-Pacific region will prove to be emerging markets for the AUV with activities in the scientific research, and oil and gas sectors. The AUV market will show stringent growth in defense operations, though there is a slight decline in the global share of advanced markets. Countries from the Latin American and African regions will prove to be prominent AUV markets. Emerging countries will also be actively involved in military activities for ISR purposes.

Stringent market growth is expected in countries such as Nigeria, Angola, Brazil, Chile, and, New Zealand in the oil and gas sector and countries such as China, Japan, and India in the scientific research sector. There will be a slight decline in the global share of advanced markets owing to defense budget cuts and economic crisis. With increased capabilities and technological advancements in AUVs, the market will see a significant growth in military and energy segments.
Oceaneering International (U.S.), SubSea 7 (U.K.), CNOOC Engineering (China), SAAB (Sweden), and Fugro (Netherlands) are key players in the global ROV market and continue to contribute fundamentally for this market globally. Kongsberg (Norway), Teledyne (U.S.), Bluefin Robotics (U.S.), and Atlas Elektronik (Germany) are market leaders in the AUV market.

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