#AUV & ROV market demand

[blogaarti]

AUV & ROV Market is Set to Exhibit 7.8% CAGR Between 2023-2030

In recent years, there has been a growing demand for AUVs and ROVs in underwater exploration and inspection activities across many industries such as military & defence, oil & gas, scientific research, etc. The implementation of ongoing technological advancements such as AI, sensors, and robotics, have allowed these vehicles to perform complex tasks with greater precision and accuracy. Moreover, increased funding by respective governments and other concerned entities toward foster further development are elements also expected to have a positive influence on global AUV & ROV market.

Fairfield Market Research has estimated that the global AUV & ROV Market is expected to be valued at US$7 Bn by 2030, growing at a CAGR of 7.8%. Two major end-use applications for this market include oil & gas exploration activities which require AUVs and ROVs to carry out regular inspection and maintenance of existing underwater infrastructure, as well as in oceanic surveys to gather data on ocean temperature, currents, and other environmental parameters. Factors such as this are expected to continue to bolster the growth trajectory of the market in the years ahead.

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Adoption of Electric and Hybrid Propulsion Systems Fuels Market Growth

There has been a steady increase in the demand for AUVs and ROVS with electric and hybrid propulsion systems owing to the numerous benefits that these systems have over traditional propulsion systems. Some of these benefits include an increased level of efficiency which results in longer mission times and lower operational costs, a reduced environmental impact due to lower noise, vibration, and emission levels, as well as the improved level of manoeuvrability in underwater environments. Moreover, these propulsion systems reduce the need for maintenance and repair as these systems have fewer moving parts compared to traditional propulsion systems. These systems also allow for greater flexibility as they can be designed to fit the specific needs of a given application. Factors such as these are expected to have a positive influence on the global AUV & ROV market.

High Development Costs, and Limited Operational Range to Hinder Market Growth

Significant investments are needed to research and develop AUVs and ROVs. The maintenance costs of these vehicles are also high, and this could also act as a deterrent for companies looking to invest in them. Moreover, AUVs and ROVs have limited operational ranges and speed, which could result in hindering their use in certain applications, particularly those that require high-speed manoeuvring or in long-range operations. Additionally, various technical limitations of these vehicles and a lack of skilled operators are also elements that could hinder the further progression of the global AUV & ROV market in the future.

Asia Pacific to Index the Fastest CAGR

North America is expected to account for a significant share of the global AUV & ROV market owing to factors such as the presence of key industries such as oil & gas, military & defence, as well as scientific research; with the US being the largest market in this region. The Middle East & Africa is expected to remain a frontrunner in this global market. However, the Asia Pacific is expected to index the fastest CAGR over the forecast period. This can be attributed to increasing investments toward naval modernization programmes, marine research, and offshore oil & gas exploration. Key markets in this region include Japan, Australia, China, and South Korea.

Key Players in the Global AUV & ROV Market

Some of the most prominent industry players in the AUV & ROV market includes SUBSEA7, and Oceaneering International Inc. This report also encompasses other prominent companies in the market, such as Argeo, Fugro, Saab AB, Atlas Elektronik GmbH, BIRNS Inc., TechnipFMC Plc, STAPEM Offshore, and Kongsberg Maritime.

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Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.

[electronalytics]

Underwater Monitoring System for Oil and Gas Market Analysis 2023 Dynamics, Players, Type, Applications, Trends, Regional Segmented, Outlook & Forecast till 2033

The underwater monitoring system for oil and gas market was valued from USD 879.0 Million in 2023 to USD 1665.56 Million in 2033. It is estimated to advance at a CAGR of 6.6% from 2024 to 2033. 

Overview and Summary

The underwater monitoring system market for oil and gas is an essential segment focused on ensuring the safety, efficiency, and environmental compliance of offshore and underwater oil and gas operations. These systems provide real-time data and surveillance of underwater environments, infrastructure, and activities, helping to detect leaks, monitor equipment integrity, and comply with environmental regulations. Underwater monitoring systems are critical for preventing accidents, optimizing production, and minimizing the environmental impact of oil and gas extraction.

Market Trends

Increased Offshore Exploration: The growth in offshore oil and gas exploration and production activities, driven by the discovery of new reserves and advancements in drilling technologies, is fueling demand for underwater monitoring systems.

Environmental Regulations: Stringent environmental regulations and standards aimed at preventing oil spills and protecting marine ecosystems are driving the adoption of advanced monitoring systems.

Technological Advancements: Innovations in sensor technologies, data analytics, and underwater communication systems are enhancing the capabilities of underwater monitoring systems, making them more reliable and efficient.

Digitalization and IoT Integration: The integration of Internet of Things (IoT) devices and digital technologies is enabling real-time data collection, remote monitoring, and predictive maintenance, improving operational efficiency and safety.

Focus on Safety and Risk Management: The oil and gas industry’s emphasis on safety and risk management is leading to increased investments in monitoring systems to detect potential issues before they escalate into major problems.

Market Analysis

Key Drivers

Operational Efficiency: Underwater monitoring systems help optimize the production process by providing accurate data on underwater conditions and equipment performance, leading to better decision-making and reduced downtime.

Cost Savings: By enabling early detection of leaks, structural issues, and equipment failures, these systems can significantly reduce maintenance costs and prevent costly environmental fines and cleanup operations.

Technological Innovation: Advances in autonomous underwater vehicles (AUVs), remotely operated vehicles (ROVs), and advanced sensors are enhancing the effectiveness and deployment of underwater monitoring systems.

Technical Overview

Underwater monitoring systems for oil and gas typically comprise various sensors, data transmission systems, and monitoring platforms:

Sensors: These include acoustic sensors (for detecting sounds and vibrations), optical sensors (for visual inspections and detecting changes in water clarity), and chemical sensors (for monitoring hydrocarbon levels and other chemical parameters).

Data Transmission: Underwater data transmission is achieved through wired (subsea cables) or wireless (acoustic and optical communication) methods. These systems ensure real-time data transfer from underwater sensors to surface control centers.

Monitoring Platforms: These can be fixed (installed on subsea structures) or mobile (mounted on AUVs or ROVs). These platforms collect and transmit data, which is then analyzed to monitor the health and performance of underwater infrastructure.

Data Analysis and Visualization: Advanced software tools and algorithms analyze the collected data, providing actionable insights and visualizations to operators for decision-making and operational optimization.

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Market Segmentations:

Global Underwater Monitoring System for Oil and Gas Market: By Company Schlumberger-OneSubea Kongsberg Maritime Teledyne Marine SONARDYNE Fugro Ocean Sonics DSPComm KCF Technologies Mitcham Industries

Global Underwater Monitoring System for Oil and Gas Market: By Type Frequency Division Multiple Access(FDMA) Time Division Multiple Access(TDMA) Code Division Multiple Access(CDMA) Space Division Multiple Access(SFMA)

Global Underwater Monitoring System for Oil and Gas Market: By Application Deepwater Monitoring Subsea Pipeline Monitoring

Regional Analysis of Global Underwater Monitoring System for Oil and Gas Market

All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Underwater Monitoring System for Oil and Gas market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Key Report Highlights:

Key Market Participants: The report delves into the major stakeholders in the market, encompassing market players, suppliers of raw materials and equipment, end-users, traders, distributors, and more.

Comprehensive Company Profiles: Detailed company profiles are provided, offering insights into various aspects including production capacity, pricing, revenue, costs, gross margin, sales volume, sales revenue, consumption patterns, growth rates, import-export dynamics, supply chains, future strategic plans, and technological advancements. This comprehensive analysis draws from a dataset spanning 12 years and includes forecasts.

Market Growth Drivers: The report extensively examines the factors contributing to market growth, with a specific focus on elucidating the diverse categories of end-users within the market.

Data Segmentation: The data and information are presented in a structured manner, allowing for easy access by market player, geographical region, product type, application, and more. Furthermore, the report can be tailored to accommodate specific research requirements.

SWOT Analysis: A SWOT analysis of the market is included, offering an insightful evaluation of its Strengths, Weaknesses, Opportunities, and Threats.

Expert Insights: Concluding the report, it features insights and opinions from industry experts, providing valuable perspectives on the market landscape.

Report includes Competitor's Landscape:

➊ Major trends and growth projections by region and country ➋ Key winning strategies followed by the competitors ➌ Who are the key competitors in this industry? ➍ What shall be the potential of this industry over the forecast tenure? ➎ What are the factors propelling the demand for the Underwater Monitoring System for Oil and Gas ? ➏ What are the opportunities that shall aid in significant proliferation of the market growth? ➐ What are the regional and country wise regulations that shall either hamper or boost the demand for Underwater Monitoring System for Oil and Gas ? ➑ How has the covid-19 impacted the growth of the market? ➒ Has the supply chain disruption caused changes in the entire value chain? Customization of the Report:

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[govindtbrc]

Deep Dive: Exploring the Depths of the Underwater Communication System Market

In the vast and mysterious world beneath the ocean's surface, communication plays a crucial role in enabling exploration, research, and various underwater activities. As advancements in technology continue to push the boundaries of what is possible underwater, the demand for reliable and efficient underwater communication systems is on the rise. These systems facilitate communication between divers, submarines, underwater vehicles, and surface vessels, unlocking new opportunities for scientific discovery, commercial ventures, and military operations.

One of the primary drivers behind the growth of the underwater communication system market is the increasing interest in underwater exploration and research. Scientists, marine biologists, and oceanographers rely on robust communication systems to collect data, monitor environmental conditions, and study marine life in remote and challenging underwater environments. Underwater communication systems enable real-time communication between researchers and instruments deployed in the ocean, allowing for more effective data collection and analysis.

Moreover, the offshore oil and gas industry represents another significant market for underwater communication systems. Oil and gas companies rely on underwater communication systems to monitor subsea infrastructure, control remotely operated vehicles (ROVs), and ensure the safety and efficiency of offshore operations. These systems enable communication between surface vessels, offshore platforms, and subsea equipment, facilitating the exploration, production, and maintenance of underwater oil and gas reserves.

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Additionally, the defense and maritime security sectors are driving demand for advanced underwater communication systems to support military operations, underwater surveillance, and underwater mine countermeasures. Military submarines, autonomous underwater vehicles (AUVs), and underwater sensors require reliable communication systems to transmit data, receive commands, and coordinate missions in challenging underwater environments. Underwater communication systems play a critical role in enhancing situational awareness, command and control, and operational effectiveness for naval forces and maritime security agencies.

Furthermore, technological advancements are driving innovation in the underwater communication system market, enabling higher data rates, longer ranges, and improved reliability for underwater communication networks. Acoustic communication techniques, such as underwater acoustic modems and hydrophones, are commonly used to transmit data through water over long distances. Optical communication technologies, such as underwater optical modems and lasers, offer higher data rates and lower latency for short-range underwater communication applications.

Despite the opportunities for growth, the underwater communication system market faces challenges related to environmental factors, such as water depth, temperature, salinity, and acoustic noise, which can degrade signal quality and affect system performance. Additionally, regulatory considerations, including spectrum allocation and underwater noise pollution, may impact the deployment and operation of underwater communication systems in certain regions.

In conclusion, the underwater communication system market is poised for growth as advancements in technology and increasing demand for underwater exploration, offshore energy production, and maritime security drive innovation and investment in communication infrastructure. By providing reliable and efficient communication solutions for underwater applications, these systems play a vital role in enabling scientific research, commercial activities, and defense operations in the challenging and dynamic underwater environment. As the market continues to evolve, collaboration between industry stakeholders, research institutions, and regulatory bodies will be essential to address technical challenges, ensure interoperability, and promote sustainable development of underwater communication systems.

[vermablogs]

Navigating the Depths: Unraveling the Growth of the Global Unmanned Underwater Vehicles Market

The global unmanned underwater vehicles (UUVs) market has experienced exponential growth, driven by technological advancements and increasing demand for maritime security and resource exploration. With a projected market valuation of US$ 24.28 billion by 2032, up from US$ 4.24 billion in 2023, this sector offers a glimpse into the future of underwater exploration and surveillance. This article delves into the factors fueling the growth of the UUV market, highlighting its diverse applications and strategic significance.

Technological Advancements: Advancements in UUV technology have paved the way for more sophisticated and versatile underwater vehicles. From Autonomous Underwater Vehicles (AUVs) to Remotely Operated Vehicles (ROVs), these unmanned systems are capable of performing a wide range of tasks, including scientific research, defense surveillance, oil and gas exploration, and underwater infrastructure maintenance. The evolution of UUVs has enabled them to undertake complex missions in depths that were previously inaccessible or hazardous for human divers, revolutionizing underwater exploration and operations.

Defense and Security Needs: In the United States, the UUV market is driven significantly by defense and security needs. The U.S. Navy, in particular, has been a major proponent of UUV technology, investing in AUVs for surveillance, mine countermeasures, and reconnaissance missions. Programs funded by the Defense Advanced Research Projects Agency (DARPA) aim to develop UUVs capable of long-duration, autonomous missions, highlighting the strategic importance of these assets in maintaining maritime superiority. The consistent increase in the U.S. Department of Defense’s budget for unmanned systems underscores the country’s commitment to advancing UUV technology for defense purposes.

Commercial Applications: Norway, with its extensive offshore oil and gas operations, represents another facet of the UUV market focused on commercial applications. The Norwegian Continental Shelf is home to one of the world’s largest offshore oil fields, where UUVs play a vital role in underwater inspections and maintenance. Companies like Equinor have leveraged ROVs for inspecting underwater pipelines, rigs, and infrastructure, reducing costs and operational risks associated with human divers. Government support for research and development in marine technologies further enhances Norway’s position as a hub for innovation in UUV applications for the oil and gas industry.

Conclusion: The global unmanned underwater vehicles market is experiencing remarkable growth, driven by technological innovation, defense and security needs, and commercial applications in industries such as oil and gas. As UUVs continue to evolve and expand their capabilities, they promise to revolutionize underwater exploration, surveillance, and resource exploitation. With strategic investments and advancements in technology, the future of the UUV market is poised for further growth and innovation, unlocking new opportunities and possibilities in the depths of the ocean.

[chandupalle]

Service Robotics Industry worth $84.8 billion by 2028

The report "Service Robotics Market by Environment (Aerial, Ground, Marine), Type (Professional, Personal & Domestic), Component, Application (Logistics, Inspection & Maintenance, Public Relations, Education) and Region - Global Forecast to 2028" The service robotics market is projected to grow from USD 41.5 billion in 2023 to reach USD 84.8 billion by 2028; it is expected to grow at a CAGR of 15.4% from 2023 to 2028. The growing usage of robots for new applications providing high returns on investment coupled with rising use of IoT in robots for cost-effective predictive maintenance are few key factors driving the service robotics market. Furthermore, there is surge in demand to reduce hospital-acquired infections to regularly, which has fuelled the demand of disinfection robots.

Hardware component of service robots is expected to have a larger share of the market compared to software component in 2023.

The hardware component is expected to dominate the service robotics market in 2023. A robotic hardware system comprises electrical, electronic, and mechanical components. Sensors used in service robots are costly. Besides, the batteries used in drones are often expensive and must be replaced on time when drones are flown frequently. Batteries often contribute to a major portion of the running costs of a drone, primarily when used for commercial applications. Likewise, new technologies, such as exoskeletons and pool-cleaning robots, are currently expensive for personal use for a majority of urban households. 

Market for professional service robots is projected to have larger market share compared to personal and domestic service robots in 2023.

The professional service robot segment is expected to hold a larger market share of service robotics market in 2023. Due to the high cost of service robots, their penetration in domestic applications is less. For instance, the cost of vacuum cleaners manufactured by iRobot (US) ranges from USD 249 to USD 1,439. Telepresence robots are available in the range of USD 185 to USD 32,000. PARO, a therapeutic robot, costs USD 3,800. The service robots used for professional applications include drones, automated guided vehicles (Gas), agricultural robots, inspection robots, humanoid robots, exoskeletons, construction robots, robotic kitchens, laundry robots, unmanned surface vehicles (USVs), autonomous underwater vehicles (AUVs), remotely operated vehicles (ROVs), inspection robots, telepresence robots, surgical robots, and cleaning robots.

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Ground service robots is expected to dominate the market in 2023.

The ground service robots are expected to account for the largest market share in 2023. The personal & domestic ground robots are becoming more economical. Also, the world’s aging population is increasing, which would, in turn, lead to an increase in the demand for elderly assistance robots and cleaning robots. Several governments are investing in R&D for improvements in elderly assistance robots to make the working population more focused.

North America to hold the largest share of service robotics market during forecast period.

North America is expected to account for the largest share of the service robotics market during the forecast period.  This can be attributed to the growing adoption of service robots such as surgical robots, agricultural robots, and AGVs in the US. Besides, surgical robots are widely adopted. The US also has the largest farmland area compared to the rest of the countries in North America. Tightening regulatory changes have led to a shortage of laborers, often leading to many crops remaining unharvested. This has led to the significant adoption of agricultural robots in the US. Being highly industrialized, the US has a substantial demand for AGVs in warehouses.

Major players operating in the service robotics market include iRobot (US), SoftBank Robotics Group (Japan), Intuitive Surgical (US), JD.com, Inc. (China), Daifuku (Japan), Samsung Electronics Co., Ltd. (South Korea), DJI (China), Kongsberg Maritime (Norway), Northrop Grumman (US), and DeLaval (Sweden).  Apart from these, Exyn Technologies (US), XAG (China), AMP Robotics (US), UVD Robots (Denmark), Diligent (US), HARVEST CROO (US), Starship Technologies (US) are among a few emerging companies in the service robotics market.

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[data-bridge]

Underwater Robotics Market Industry Share, Size, Growth, Demands, Revenue, Top Leaders and Forecast to 2029

Industry Analysis

Data Bridge Market Research analyses that the global underwater robotics market is expected to reach USD 8,036.40 million by the year 2029. "Remotely Operated Vehicles (ROV)" accounts for the most prominent type segment in the respective market.

Additionally, the credible Underwater Robotics Market report helps the manufacturer in finding out the effectiveness of the existing channels of distribution, advertising programs, or media, selling methods and the best way of distributing the goods to the eventual consumers. Taking up such market research report is all the time beneficial for any company whether it is a small scale or large scale, for marketing of products or services. It makes effortless for Semiconductors and Electronics industry to visualize what is already available in the market, what market anticipates, the competitive environment, and what should be done to surpass the competitor.

 

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Market Insights and Scope            

Underwater robotics is a branch of robotics that covers the research and development, design, manufacture, and application of robots operating in underwater environments. The term can refer to any robot functioning at or below water level (marine robotic systems). Still, it usually refers specifically to autonomous vehicles designed for use underwater. An underwater robot also called an autonomous underwater vehicle, is a machine that can be remotely operated. It is designed to work underwater for continuous oceanic surveillance. Robotics has been utilized in manufacturing in the past few years. The marvellous expansion has made them more cultured and dependable for military and law implementation applications. Underwater robots play a significant role in the expansion of the offshore industry. In addition, it has numerous implementations in marine biology, underwater archaeology, and maritime security.

An international Underwater Robotics research report examines competitive companies and manufacturers in the global market. Competitive analysis carried out in this market report puts forth the moves of the key players in the Semiconductors and Electronics industry such as new product launches, expansions, agreements, joint ventures, partnerships, and recent acquisitions. This market report puts light on various aspects of marketing research that range from important industry trends, market size, market share estimates, sales volume, emerging trends, product consumption, customer preferences, historic data along with future forecast and key player analysis. It studies market by product type, applications and growth factors.

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Industry Segmentation

Global underwater robotics market is segmented based on type, working depth, task type, depth, components and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

Remotely Operated Vehicles (ROV)

Autonomous Underwater Vehicle (AUV)

Working Depth

Shallow

Deep water

Ultra-Deep Water

Task Type    

Observation

Survey

Inspection

Construction

Intervention

Burial and Trenching

Others

Depth

Less than 1000 Mts

1000 Mts to 5000 Mts

More Than 5000 Mts

Component

Light

Camera

Frame

Thrusters

Tethers

Pilot Controls

Others

Application

Oil and Gas

Commercial Exploration

Defense and Security

Scientific Research

Others

 

Industry Share Analysis

Some of the major players operating in Global underwater robotics market are

ATLAS ELEKTRONIK GmbH, Deep Ocean Engineering, Inc., General Dynamics Mission Systems, Inc., ECA GROUP, International Submarine Engineering Limited, Eddyfi, Phoenix International Holdings, Inc., Boeing, Soil Machine Dynamics Ltd., MacArtney A/S, Oceaneering International, Inc., VideoRay LLC, Saab AB, Forum Energy Technologies, Inc., TechnipFMC plc, SUBSEA 7, Fugro, SeaRobotics Corp., Rovco Ltd, Total Marine Technology Pty Ltd, Teledyne Technologies Incorporated, KONGSBERG, Mitsui E&S Holdings Co., Ltd., Huntington Ingalls Industries, Inc., and Deep Trekker Inc., among others.

 

Market Country Level Analysis

The countries covered in global underwater robotics market report are the

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Sweden, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia and New Zealand, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

An influential Underwater Robotics Market research report displays an absolute outline of the market that considers various aspects such as product definition, customary vendor landscape, and market segmentation. Currently, businesses are relying on the diverse segments covered in the market research report to a great extent which gives them better insights to drive the business on the right track. The competitive analysis brings into light a clear insight about the market share analysis and actions of the key industry players. With this info, businesses can successfully make decisions about business strategies to accomplish maximum return on investment (ROI).

 

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[abhigmi]

Underwater Connectors Market to Observe Rugged Expansion at a Top CAGR by 2027 End

The underwater connectors market is set to witness promising growth by 2027 due to rising product demand across several application avenues like oil & gas, telecommunication, oceanographic, and defense among others.

Underwater connectors are specifically designed to bear harsh environments which includes corrosive seawater, pressure, shock and vibration. These connectors are also termed as subsea connectors and marine connectors and offer reliability as well as performance to users.

Lately, waterproof connectors are witnessing robust demand in numerous applications ranging from outdoor and marine technologies to consumer devices that have very high exposure to changing degrees of moisture. These are specifically designed to bear the changing degrees of entrance of water as well as other conditions, like very cold temperatures or high saline environments.

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At present, numerous key participants are involved in novel product launches to gain a competitive edge as well as to expand their customer base. Citing an instance, in April 2021, Fischer Connectors, a leading connectivity solution provider, reportedly announced plans of extending its flagship series of full-rugged and extreme-environment connectors with two novel products, namely the standard Fischer UltiMate™ and the Fischer UltiMate™ 80 connector.

Ecologically sealed to withstand extreme vibrations and shocks, these reliable and durable devices are best to interconnect hubs, devices, equipment as well as embedded electronic systems mainly where weight matters, for instance in unmanned vehicles, robotics, marine & underwater, instrumentation, industrial, and defense & security.

The underwater connectors market is segmented in terms of type, application, and regional landscape. Talking of type, the market for underwater connectors is classified into underwater electrical mateable connectors, rubber molded, inductive coupling, and rigid shell. Among these, the underwater electrical mateable connectors segment will witness a market growth of more than 7.5% by the end of 2027. The growth is accredited to the rising product demand in ROV/AUV applications.

Underwater mateable electrical connectors provide a higher degree of flexibility and also allow for maintenance & repairs in critical conditions.

In terms of application, the overall underwater connectors market is categorized into oceanographic, telecommunication, ROVs/AUVs, defense, and oil & gas. Oceanographic segment will witness a market growth of about 5.0% by the end of the analysis timeline. Rising government efforts for deep sea explorations coupled with the discovery of new reservoirs will accelerate the segment growth.

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From a regional frame of reference, in 2020, the Middle East & Africa witnessed a market growth of around 6.5% and will continue to exhibit robust growth over the coming years. Growing government initiatives to accelerate establishment of offshore oil & gas exploration in the region will add towards regional market growth.

Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Definitions and scope

1.2    Methodology

1.3    Region-wise COVID-19 impact analysis:

1.3.1    North America

1.3.2    Europe

1.3.3    Asia Pacific

1.3.4    Latin America

1.3.5    Middle East & Africa

1.4    Data Sources

1.4.1    Secondary

1.4.2    Primary

Chapter 2   Executive Summary

2.1    Underwater connector market 3600 synopsis, 2016 - 2027

2.2    Business trends

2.3    Regional trends

2.4    Type trends

2.5    Application trends

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[abhijeetpawar22]

Unmanned Maritime Vehicles (UMVs) Market Industry Outlook, Comprehensive Insights, Growth and Forecast 2025

GMD predicts the revenue of global UMVs market to reach $8.09 billion by 2026 in terms of CAPEX (Capital Expenditure), growing by 8.2% annually over 2019-2026.

Industry Overview:

The new study made on Unmanned Maritime Vehicles (UMVs) market includes crucial information on market share, market size, and growth rate for the forecast period 2019 - 2026. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics.

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COVID-19 Impact:

The industrial report mentions about the influence of the ongoing COVID-19 pandemic. The outbreak has caused disturbances in several industries and has hammered the logistics, resulting in delayed deliveries and cancellation of product demand. The Unmanned Maritime Vehicles (UMVs) report proficiently explains about the resulting factors and concerns of manufacturers. Researchers have also well-explained about how the producers and providers will tackle with the ongoing epidemic and the key strategies to be adopted post pandemic for turning their businesses back to normal.

Global Unmanned Maritime Vehicles (UMVs) Market Competitive Analysis:

5G International Inc.

ASV Unmanned Marine Systems

Atlas Elektronik GmbH

BAE Systems plc

Boston Engineering

C-Innovation

Deep Trekker Inc

DOF Subsea AS

ECA Group

Forum Energy Technologies

 Some of the Players profiled in the Unmanned Maritime Vehicles (UMVs) market include …..

The updated market research report on Unmanned Maritime Vehicles (UMVs) market allows the buyers and manufactures to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.

Market Segmentation:

The report is divided into major categories comprising product, distribution channel, application, and end users. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Every segment is studied thoroughly in order to offer a better picture to the buyers and stakeholders to benefit from. Information like highest prevailing product, highly demanded product by the application segment and end users are rightly mentioned in the Unmanned Maritime Vehicles (UMVs) report.

Based on vehicle type, the global market is segmented into the following sub-markets with annual revenue for 2015-2026 (historical and forecast) included in each section.

• UUVs (further segmented into ROVs and AUVs)

• USVs (further segmented into Remotely Operated USVs and Autonomous USVs)

• Other UMVs

Based on application, the global market is segmented into the following sub-markets with annual revenue for 2015-2026 (historical and forecast) included in each section.

• Commercial (breakdown by vehicle types of ROVs, AUVs, USVs, and Other UMVs)

• Scientific Research (breakdown by vehicle types of ROVs, AUVs, USVs, and Other UMVs)

• Defense & Security (breakdown by vehicle types of ROVs, AUVs, USVs, and Other UMVs)

• Others

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Regional Insights:

The Unmanned Maritime Vehicles (UMVs) market is segmented as North America, South America, Europe, Asia Pacific, and Middle East and Africa. Researchers have thoroughly studied about the historical market. With extensive research, experts have offered details on the current and the forecast demand made by these regions. The Unmanned Maritime Vehicles (UMVs) report also includes highlights on the prevailing product demanded by end users and end customers for better understanding of product demand by producers. This will help the producers and the marketing executives to plan their production quantity and plan effective marketing strategies to more buyers. Businesses can hence, increase their product portfolio and expand their global presence. Unmanned Maritime Vehicles (UMVs) market research report further offers information on the unexplored areas in these regions to help the producers to plan promotional strategies and create demand for their new and updated products. This will again help the manufacturers to increase their customers and emerge as leaders in the near future.

The Queries answered by Unmanned Maritime Vehicles (UMVs) Market Research Report include:

· What are the key producers, equipment suppliers, raw material suppliers, end users, distributors and traders in the Unmanned Maritime Vehicles (UMVs) Market?

· What are the crucial factors impacting the Unmanned Maritime Vehicles (UMVs) Market Growth?

· What are production processes, major problems or obstacles, and solutions to tone down the development risk?

· What is the contribution made by regional manufacturers to the overall market?

· What are the major market segment, influential trends, market potential, and key challenges that the market is witnessing?

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[shruti022-blog]

Unmanned Composites Market Growth Analysis By Size, Share, News, Demand, Opportunity

A remote or self controlled system fitted with all the sensors, information processing centers, automated control and communication systems needed is defined as unmanned system. Factors such as an increase in requirements for composite materials to provide lightweight structures, better performance of relatively inexperienced systems and an increase in unmanned systems are driving market development. Unmanned composites are the materials used in the construction of various components of unmanned systems, such as Unmanned Aerial Vehicle (UAV), Remotely Operated Vehicle (ROV), Autonomous Underwater Vehicle (AUV), Unmanned Ground Vehicle (UGV), and Unmanned Surface Vehicle (USV).

Unmanned composites consist of fiber reinforcement, which are pre-emptied with a resin scheme. The fibers are in the shape of a woven fabric, and the matrix serves as the joint for production. Composites are used considerably in internal and external apps in aerospace due to their anti-corrosive, strong strength and lightweight properties. Unmanned systems are anticipated to drive the unmanned composite market by the need for lightweight parts. Standardization deficiency and the elevated price of unmanned composites are the main constraints on this market development. However, in the unmanned composite industry several possibilities are recognized.

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During the forecast period, unmanned European composites market is expected to expand during the largest CAGR. This region’s market development is driven primarily by the delivery of unmanned devices in economies such as the France, United Kingdom, Russia and Germany. One of the key market drivers for unmanaged composites in European nations is the necessity for composites to cut weight. The quickly growing use of UAV aircraft and aerostat systems in China, India, Southeast Korea and South-East Asia is projected to show significant development in Asia Pacific in the near future.

The comprehensive report provides market estimates and forecast for leading domestic markets across the world for the period 2020 to 2030. In addition, the report includes dedicated leading companies covering 10 leading Unmanned Composites players. The study also includes a thorough overview of the business sector and comprehensive overview of the current Unmanned Composites evaluation. In order to explore and transport application, businesses operating in the industry are developing partially or fully independent rovers.

[latestglobalmarketresearch]

Unmanned Underwater Vehicle Market - North America to Lead Remotely Operated Vehicle Market In 2020 To 2025

The global Unmanned Underwater Vehicles Market size is projected to grow from USD 2.0 billion in 2020 to USD 4.4 billion by 2025, at a CAGR of 16.4% from 2020 to 2025. 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.

The UUV market includes major players Lockheed Martin Corporation (US), Saab AB (Sweden), Kongsberg Gruppen (Norway), Northrop Grumman Corporation (US), Oceaneering International, Inc. (US). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and South America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect UUV production and services by 25–30% globally in 2020.

Based on application, the commercial exploration segment of the Remotely Operated Vehicle (ROV) market is expected to witness the highest growth during the forecast period.

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The commercial exploration segment of the Remotely Operated Vehicle (ROV) market is expected to witness the highest growth during the forecast period. This growth can be attributed to the increased demand for UUVs in commercial applications, such as surveys and seabed mapping, offshore drilling, and pipeline inspection.

Based on the system, the sensors segment of the ROV market is expected to witness the highest growth during the forecast period

The ROV market has been segmented and analyzed based on the system into a propulsion system, collision avoidance system, a navigation system, communication system, sensors, payloads, and chassis. sensors, radars, cameras, lasers, and others. Based on sensors, the camera segment is estimated to be the largest segment of the market in 2017, as high-resolution cameras are the most widely used payloads in various applications. The sensors segment is projected to witness the highest growth, due to the increased use of sensors in the defense sector for scanning, detecting, mapping, and remote sensing. Sensors are also used in the commercial sector to measure the concentration of various elements and compounds and detect the presence of microscopic life.

North America is projected to have maximum market share in the autonomous underwater vehicles market during the forecast period. Due to increasing security concerns, the US and Canada are expected to use an autonomous underwater vehicle (AUVs) for various defense operations, such as anti-submarine warfare and surveillance. Autonomous underwater vehicles (AUVs) are used for collecting data related to the seabed. The main driver for the growth of the North America autonomous underwater vehicle market is the increased use of autonomous underwater vehicles (AUVs) for carrying out deepwater surveys for the oil & gas industry that otherwise would have been expensive.

Lockheed Martin Corporation (US), Saab AB (Sweden), Kongsberg Gruppen (Norway), Northrop Grumman Corporation (US), Oceaneering International, Inc. (US) are some of the leading players operating in the UUV market report.

Dow is one of the largest chemical manufacturing and distributing companies in the world.  The DowDuPont company has been organized into three operating segments namely performance materials & coatings, industrial intermediates & infrastructure and packaging & specialty plastics. It offers conformal coatings under the performance materials & coatings segment. The company has an extensive global presence with 109 manufacturing plants in 31 countries across the Americas, APAC, Europe and Middle & Africa.

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[futuremarketinsightsreports]

Ultra-Short Base Line Positioning System Demand to Grow by 5.8% through 2031, Applications to Concentrate in ROV, AUV Vessel Positioning: Future Market Insights

In its market study on the ultra-short base line positioning system, Future Market Insights (FMI) presents deep dive into developments across segments in terms of operational frequency range, nominal range, antenna aperture, and end-use in the global ultra-short base line positioning system market. The study also highlights growth strategies adopted by leading players to strengthen sales prospects.

DUBAI, U.A.E, Aug. 12, 2021 /PRNewswire/ -- As per a recent market analysis by ESOMAR-certified consulting firm Future Market Insights (FMI), the global ultra-short base line positioning system market is projected to reach a valuation of US$ 127.7 Mn in 2021.

Expansion of commercial trade via marine operations, coupled with growing interest in recreational travel are key trends bolstering sales of ultra-short base line positioning systems. Driven by this, the market is poised to expand at a steady 5.8% CAGR during the forecast period, from 2021 to 2031.

Increasing demand from researchers, surveyors, photographers, and the Navy in various countries will continue providing tailwinds to ultra-short base line positioning system sales.

Besides this, efforts to improve underwater communication are encouraging companies to develop wireless data transmission systems. Integration of connective technologies such as Internet of Things (IoT) and artificial intelligence for streamlining marine communication will further boost sales through 2031.

In addition, improvements in sound to noise ratio (SNR) at an inverted ultra-short base line transceiver in smaller vessels are providing longer acoustic tracking ranges. These improvements are facilitating growth in marine operations, leading to lucrative sales prospects in the market.

Growing interest in water sports and recreational tourism activities also will result in higher adoption of ultra-short base line positioning system by ship and vessel owners for optimal safety of customers. This factor is anticipated to encourage developments and technological advancements in the ultra-short base line positioning system market in the upcoming years.

FMI on the basis of in-depth regional analysis projects the U.S. to dominate the ultra-short base line positioning system market. The U.S. is forecast to account for 60% of sales in North America. Rapid expansion of various end-use industries such as oil & gas and tourism are anticipated to bode well for the market.

"Increasing investments in maritime and marine science are paving way for product developments in the global ultra-short base line positioning system market. Besides this, introduction of sales through online channels by OEMs will further augment market growth," says the FMI analyst.

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Key Takeaways:

In terms of nominal range, deep (upto 10,000 m) ultra-short base line positioning system will lead the segment, holding 57% of the total market share.

200-degree antenna aperture will account for 45% of the total ultra-short base line positioning system market share.

ROV, AUV vessels positioning will dominate the end-user segment, accounting for 25% of the total market share.

Holding 60% of the North American ultra-short base line positioning system market, the U.S. will continue witnessing high growth through 2031.

Growing investments in machine science and expansions in the oil & gas industry in China will place it as a lucrative market, expanding at a 5.1% CAGR through 2031.

Sales outlook of ultra-short base line positioning systems in Italy is projected to be positive, holding 20% of the European market.

Prominent Drivers:

Technological advancements in ultra-short base line positioning system market such as IoT (Internet of Things) and artificial intelligence (AI) will push sales through 2031.

Growing interest in tourist activities such as deep-sea diving and underwater photography will propel sales of ultra-short base line positioning systems.

Key Restraints:

High costs associated with the installation of ultra-short base line positioning system may hamper the market growth.

Discover more about Ultra Short Base Line Positioning System Market with figures and data tables, along with the table of contents. For any Queries Linked with the Report, Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-13495

Competitive Landscape

Key players operating in the ultra-short base line positioning system market are leveraging strategic collaborations, partnerships, and acquisitions to strengthen their position in the market. Product portfolio expansions and customized products to meet end-users demand will remain lucrative growth strategies during the assessment period. For instance:

In July 2021, Norwegian company Konsberg Maritime launched two new water jet control systems known as JCS Compact and JCS Extended. These new control systems use standard components for reducing costs and streamlining simple operations.

In September 2020, EdgeTech, a global leader in high-resolution sonar imaging systems and underwater technology, introduced a new sonar frequency combination suitable for shallow water unmanned surface vehicles (USV) and unmanned underwater vehicles (UUV). The new technology effectively connects small vehicles operating in shallow waters or close to the seafloor.

Leading players operating in Ultra Short Base Line Positioning System Market profiled by FMI include:

Kongsberg Maritime AS

Teledyne Marine

iXblue

ROV-Support A/S

EvoLogics GmbH

Sonardyne Holdings Limited

AAE Technologies Ltd.

Tritech International Limited

Imenco AS

Deep Trekker Inc.

VideoRay LLC

Link Quest Inc.

Blueprint Design Engineering Ltd.

Beringia Enterprises LLC (DiveNET)

EdgeTech

[anitakumarigrewal]

Growing Demand of UMV’s in Defence and Security Industry in North America Market Outlook: Ken Research

The Unmanned Maritime Vehicles refers to the vehicles or vessels which can easily operate on the water surface without any crew. These types of vehicles can be remotely controlled and also can be controlled by an operator which is situated on land or on board of another vehicle vessel. These type of vehicles are majorly used for first line of defence as they helps in performing inspections of other ships. Whereas, manned boats can be kept at a safe distance to avoid unnecessary risks.

As per the report analysis, ‘North America Unmanned Maritime Vehicles (UMVs) Market 2020-2026 by Vehicle Type (UUVs, USVs), Application (Commercial, Scientific Research, Defence & Security), Propulsion System (Electric, Mechanical) and Country’ states that 5G International Inc., ASV Unmanned Marine Systems, Atlas Elektronik GmbH, BAE Systems plc, Boston Engineering, C-Innovation, Deep Trekker Inc, DOF Subsea AS, ECA Group, Forum Energy Technologies, Fugro Subsea Services Ltd, General Dynamics Mission Systems, Helix Energy Solutions, International Submarine Engineering (ISE) Ltd., Israel Aerospace Industries Ltd., i-Tech (Subsea 7), Kongsberg Gruppen ASA, Kystdesign AS, Liquid Robotics, Lockheed Martin Corporation, Ocean Aero, Inc., Oceaneering International, Inc., Ocius Technology Ltd., Marine Tech SAS, Perry Slingsby Systems Limited, Rafael Advanced Defense Systems Ltd., SAAB SEAEYE LTD., Saipem (Sonsub), SeaRobotics Corporation, Seebyte Ltd., Schilling Robotics, LLC, Simple Unmanned, LLC., Soil Machine Dynamics Ltd (SMD), Thales S.A., Teledyne Technologies Inc., Textron Inc. are some of the major players which are currently operating in the market and dominating the entire space of the organized market. The above mentioned companies has been further analysed on various parameters to get an overall outlook about the market leader and the best strategies adopted by them in the market. Some of the major parameters on which these companies are being analysed include Major Vendors, New Product Launches, Partnerships, Investment, Mergers and Acquisitions and many more.

Moreover, in the detailed coverage report also covers an exhaustive qualitative analysis on the basis of various factors such as Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter's Fiver Forces Analysis and many more. The report provides detailed study about the market segmentation at various levels by Vehicle Type (UUVs which is being further categorized into ROVs and AUVs), USVs (also further categorized into Remotely Operated USVs and Autonomous USVs), and Other UMVs), By Application (Commercial which majorly covers an analysis on the basis of breakdown by vehicle types of ROVs, AUVs, USVs, and Other UMVs), (Scientific Research which provides an analysis on the basis of breakdown by vehicle types of ROVs, AUVs, USVs, and Other UMVs), (Defense & Security  which offers an in-depth analysis on the basis of breakdown by vehicle types of ROVs, AUVs, USVs, and Other UMVs), and others Others), By Defence & Security (Mine Counter Measures (MCM), Anti-Submarine Warfare (ASW), Intelligence, Surveillance and Reconnaissance (ISR), Security, Transportation, Search and Rescue, and Others), By Propulsion System (Electric System, Mechanical System, and Others). Also, the entire detailed study about the market is being captured at various geographical locations such as United States of America and Canada.

In future, it has been anticipated that the overall North America’s Unmanned Maritime Vehicles (UMV’s) market will increase at a single digit CAGR, majorly due to the growing demand in the region coupled with the defence sector.

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North America Unmanned Maritime Vehicles Market Research Report

Related Report:-

Global Unmanned Maritime Vehicles (UMVs) Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)

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[your-dietician]

USD 9,502.7 Million Revenue Unmanned Underwater Vehicles

New Post has been published on https://tattlepress.com/markets/usd-9502-7-million-revenue-unmanned-underwater-vehicles/

USD 9,502.7 Million Revenue Unmanned Underwater Vehicles

Pune, India, June 25, 2021 (GLOBE NEWSWIRE) — The global unmanned underwater vehicles market size is expected to reach USD 9,502.7 million by 2028, exhibiting a CAGR of 17.59% during the forecast period. The increasing application of UUVs in underwater search and survey, communication, navigation, and maritime surveillance will propel the healthy growth of the market, states Fortune Business Insights, in a report, titled “Unmanned Underwater Vehicles (UUV) Market Size, Share and COVID-19 Impact Analysis, By Type (Remotely Operated Vehicle (ROV), and Autonomous Underwater Vehicle (AUV)), By Application (Commercial Exploration, Scientific Research, Defense), By Product Type (Small Vehicle, High-Capacity Electric Vehicle, Work-Class Vehicle), By Propulsion System (Electric System, Mechanical System), By Payload (Camera, Sensors), and Regional Forecast, 2021-2028.” The market size stood at USD 2,960.8 million in 2020.

COVID-19 Impact on Unmanned Underwater Vehicles Industry:

The catastrophe caused by coronavirus has disrupted the supply chain of every industry around the world. We understand that this health emergency has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. Some industries are struggling, and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.

We are making endless efforts to uplift businesses in this crucial need of the hour. Our expertise and experience can offer enormous benefits to help regain during this global pandemic. 

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The report on the unmanned underwater vehicles market uncovers:

Renowned insights into the industry

Important data with in-depth research

Factors exhibiting market growth

Comprehensive study about main regions

COVID-19 impact on the market

Prime developments in the industry

What Does the Report Contain?

The report offers an insight into the profitability, entire structure, and scale. It also studies the drivers and restraints and considers all the potential threats to the market. The critical analysis of marketplace sections, prediction analysis, and expert insights are strategically included in the report. A wide spectrum of data, including regional analysis, market segmentation, industry developments, and key players, are included in the research conducted by market experts.

Market Driver:

Surging Deep Water Oil & Gas Production to Facilitate Growth

The increasing gas and oil production and exploration activities will have a tremendous impact on the global market. For instance, in 2019, the Gulf of Mexico observed new oil discoveries by key companies such as Shell, Chevron, Repsol, and Equinor. Shell has been successful in deep-water well-exploration projects. The new exploration project is expected to produce more than 900,000 barrels of oil by 2020. The increasing energy demand will subsequently accelerate deep-sea exploration, which, in turn, will aid expansion of the market. The oil & gas industry is expected to account for the lion’s share in the world’s primary energy supply by 2050. The increasing utilization of unmanned underwater vehicles in the oil and gas industry can have an outstanding effect on the market in the forthcoming years. Moreover, the increasing commercial applications such as seafloor mapping or seabed imaging and pipeline disruption study in the sea environment will foster healthy unmanned underwater vehicles market growth.

Disrupted Oil Industry to Dampen Business Amid Coronavirus

COVID-19 had a severe impact on the industries due to the spread of the disease to almost 200+ countries worldwide. Moreover, the global oil industry experienced a sudden drop in demand across various countries. The oil demand is projected to fall 9.3 mb/d year-on-year in 2020 and 2021. According to UNCTAD, global maritime transport plunged by 4.1% in 2020 due to unexpected disruption caused by the COVID-19 pandemic. The disorder has mainly hampered the supply chain, shipping network, trade volumes, and port. However, the global Shipping industry is making efforts for sustainable recovery and smooth operations, which, in turn, will aid the market. 

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Regional Analysis:

Increasing Investments in the Defense Sector to Augment Growth in Asia Pacific

North America is expected to hold the largest UUVs market share during the forecast period. The United States is the largest producer, operator, and exporter of UUVs globally. The increasing use of remotely operated vehicles (ROVs) in commercial and defense sectors will promote the expansion of North America’s market. The growing use of autonomous underwater vehicles (AUVs) for carrying deep-water surveys in oil & gas production can contribute positively to the market growth in the region. Asia Pacific is expected to experience a significant growth rate during the forecast period. The growth is attributed to the increasing investments in the defense sector from several countries such as India, China, Japan, South Korea, and others.

The Report Lists the Key Players in the Market for Unmanned Underwater Vehicles:

Boeing (The U.S.)

Fugro (The Netherlands)

General Dynamics Corporation (The U.S.)

International Submarine Engineering (Canada)

KONGSBERG (Norway)

L3Harris Technologies, Inc. (The U.S.)

Lockheed Martin Corporation (The U.S.)

Oceaneering International, Inc. (The U.S.)

Saab AB (Sweden)

Teledyne Technologies Incorporated (The U.S.)

Key Development:

June 2020: Seamec Limited announced that it has signed a three-year contract with Fugro for inspection, repair, & maintenance (IRM) of subsea pipeline on India’s west coast. Fugro is expected to offer work class ROV services to Seamec during the contract duration.

Detailed Table of Content:

Introduction

Research Scope

Market Segmentation

Research Methodology

Definitions and Assumptions

Executive Summary

Market Dynamics

Market Drivers

Market Restraints

Market Opportunities

Key Insights

Key Industry Developments –Mergers, Acquisitions and Partnerships

Latest technological Advancements

Porters Five Forces Analysis

Supply Chain Analysis

Quantitative Insights- Impact of COVID-19 Pandemic on Global Market

Impact of the COVID-19 pandemic on the Global UUV Market

Steps taken by Industry/ Companies/ Governments to overcome the impact

Key Developments in the Industry in Response to COVID-19 pandemic

Potential opportunities due to COVID-19 Outbreak

Browse Detailed Research Insights with Table of Content:

https://www.fortunebusinessinsights.com/unmanned-underwater-vehicles-uuv-market-102527

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[superpraptithings]

The global unmanned underwater vehicles market size is projected to reach USD 7.53 billion by the end of 2026. The increasing product applications in the defense sector will provide impetus to market growth. According to a report published by Fortune Business Insights, titled “Unmanned Underwater Vehicles Market Size, Share and Industry Analysis, By Type (Remotely Operated Vehicle (ROV), and Autonomous Underwater Vehicle (AUV)), By Application (Commercial Exploration, Scientific Research, Defense, and Miscellaneous), By Product Type (Small Vehicle, High-Capacity Electric Vehicle, Work-Class Vehicle, and Heavy Work-Class Vehicle), By Propulsion System (Electric System, Mechanical System, and Hybrid System), By Payload (Camera, Sensors, Inertial Navigation System, and Others), and Regional Forecast, 2019-2026,” the market was worth USD 2.96 billion in 2018 and will exhibit a CAGR of 12.8%  during the forecast period, 2019-2026. 

COVID-19 Impact on Unmanned Underwater Vehicles Industry:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

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Unmanned underwater vehicles are automated vehicles that operate under water. They are used for numerous marine as well as research and survey applications. The increasing use of these products in applications such as survey and research in the oil and gas industry will emerge in favor of the growth of the overall market.

The growing demand for oil and natural gas will create a subsequent demand for unmanned underwater vehicles across the world. The presence of several large scale companies, coupled with the massive investments by these companies will create several platforms for market growth. The emphasis on the development of low-energy consuming vehicles by government as well as private organizations will aid the growth of the overall market in the coming years. Moreover, technological advancements have played a vital role in the growth of the market, accounting to their applications across numerous industry verticals.

Market Drivers

Increasing Number of Company Mergers Will Aid Market Growth

The report encompasses several factors that have contributed to the growth of the overall market in recent years. It highlights a few of the standout strategies adopted by major companies and includes a brief analysis of the impact that these companies have had on the global market. It has been observed that company collaborations are a growing trend among major companies.

In August 2019, General Dynamics Corporation announced that it signed a contract with the US Department of Defense. The contract is said to be worth USD 45 million and is aimed at production of low-rate initial production of surface-mine undersea vehicle. General Dynamics’ latest contract with the US Dept. of Defense will not just help the company grow, but will also influence the growth of the overall market in the foreseeable future. North America Holds the Highest Market Share; Increasing Use of ROVs to Aid Growth

The report analyzes the ongoing UUV market trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, the market in North America currently holds the highest UUV market share. The increasing use of ROVs in several countries across North America will aid the growth of the regional market. Moreover, emphasis on developing efficient ROVs for underwater surveys for oil and gas extraction will provide impetus to market growth. As of 2018, the market in North America was worth USD 948.8 million and this value is likely to increase further in the coming years. Besides North America, the market in Asia Pacific will also witness significant growth in the coming years driven by the increasing investment in UUVs used in the defense sector by major economies such as China, India, and Japan. The market in Europe will also witness considerable growth due to the presence of several large scale companies such as Kongsberg Maritime and Saab Group.

Browse Detailed Research Insights with Table of Content:   

https://www.fortunebusinessinsights.com/unmanned-underwater-vehicles-uuv-market-102527