BIS Research Estimates A Significant Rise In The UUVs Market by 2021

20 Feb 2017

The maritime technology is gaining momentum globally as major countries are investing in their defense system. Unmanned underwater vehicles (UUVs) are set to be a powerful tool for the commercial as well as scientific research and defense sector. Many companies are into the production of underwater vehicles, ranging from remotely operated to automatic, with the industry advancing towards more sophisticated maritime technology. General Dynamics recently announced the opening of online sale of its new Bluefin SandShark autonomous underwater vehicle (AUV). It can now be ordered online, on company’s website by defense, scientific and commercial customers worldwide. It weighs less than 11 pounds prior to adding a mission payload and can be fitted in a backpack. In another development, Oceaneering International announced that it intends to purchase ocean bottom-mapping services provider, C&C Technologies for $230 million in cash. Oceaneering specialises in operating underwater, remotely operated vehicles (ROVs) for the extraction of deep-water oil and natural gas for the oil and gas industry.

Keeping in mind the market dynamics and recent developments, BIS Research has published a report titled “Global Unmanned Underwater Vehicles Market, Analysis and Forecast (2016-2021)”, with the focus on major vehicle types, payloads and application. The research analyst at BIS Research says, “The increased demand of oil and gas has driven the demand for undersea technologies. The oil and gas ratio in the commercial sector is expected to have the highest demand during the forecast period and hence, will prove as the potential market for the utilization of unmanned underwater vehicles. The extent of defense and scientific research has also emphasized on the importance of UUVs.”

Lockheed Martin, General Dynamics, BAE Sytems, Saab AB, Oceaneering International, Frugo, Kongsberg Gruppen, Subsea 7 and Teledyne Technologies are some of the key players in the market. The report includes a detailed competitive analysis of the unmanned underwater vehicles market, with focus on the key developments in the market and the strategies adopted by the key players in the market. The recent developments in the unmanned underwater vehicles market has driven the analysts to divide the market based on types, application and geography. Different types of underwater vehicles have been covered with major emphasis on remotely operated vehicles, autonomous underwater vehicles and hybrid vehicles. The analyst at BIS Research states, “The UUV market reported a revenue of $2,652.62 million in 2016 with the remotely operated vehicles segment accommodating for the highest revenue by 2021.” The geographical analysis includes all geographical regions including Asia Pacific, North America and the Rest of the World. 

The key market players have also been analysed in the report on the paradigms of business financials, key products & services, major developments, future programs (if any), and individual SWOT analysis.


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