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Unmanned Underwater Vehicle Market Research Insights with Upcoming Trends Segmentation, Opportunities and Forecast 2028

The "Unmanned Underwater Vehicle Market Forecast to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis.

NEW YORK, UNITED STATES, UNITED STATES, March 1, 2023 / -- The Latest research report study on “Unmanned Underwater Vehicle Market Size, Global Analysis and Forecast to 2028” the market is projected to grow from US$ 2.83 billion in 2022 to US$ 4.44 billion by 2028; it is estimated to grow at a CAGR of 7.8% from 2022 to 2028.

With the increase in coastal developments, the maritime domain is increasingly becoming congested, fueled by both state and non-state actors using the sea for various activities. This increases the need for maritime surveillance and protection. As a result, the demand for modern assets, such as unmanned vehicles, which can be deployed to reduce human life risks and mitigate enemy contact by moving into other domains such as scientific research, inspection, and search & rescue, is increasing. Moreover, the surging application of digital connectivity acts as a major factor in the growth of unmanned oceanic systems. Connectivity plays a paramount role for the modern networked sea and subsea forces, as the value of every sensor and effector is determined by the degree of its integration in the overall C4ISR chain. Major countries are substantially investing in the defense sectors for the development of connected subsea-based sensors and submerged platforms as this factor is anticipated to trigger more expanding operations of unmanned assets to counter any potential adversary threat.

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Surging Demand for Undersea Vehicles from Defense Forces to Provide Growth Opportunities for Unmanned Underwater Vehicle Market During 2022–2028
Unmanned underwater vehicles (UUVs) are drones operating underwater with or without human interference. The majority of the global UUV market is captured by the defense forces, owing to the ever-increasing demand for subsea monitoring. The adoption trend of UUVs is increasing among various commercial sectors, such as oil & gas exploration organizations, hydrographic and oceanographic survey organizations, environmental monitoring organizations, and search & recovery teams. Various scientific research organizations are also adopting unmanned underwater vehicles for conducting oceanic studies and maritime surveys, among others.
The major defense forces across the globe are experiencing maritime security threats such as torpedo threats, underwater mines, diesel-electric submarine attacks, and short-range anti-ship missiles. Owing to these threats, the demand for technological alternatives, such as unmanned marine systems, is peaking among the defense forces. Technological advancement has reduced the risk to humans in critical and complex situations. Although underwater vehicles operate with human interference, the demand for unmanned solutions is increasing significantly over time. Hence, developers are integrating underwater drones with enhancedISR systems to offer defense forces advanced surveillance capabilities. Applications of unmanned underwater vehicles include oil & gas exploration centers, hydrography, and oceanography, and environmental monitoring. The commercial sectors are increasingly adopting unmanned underwater technology to map and monitor the condition of seas or oceans, as well as explore various oil & gas sites.

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Players operating in the unmanned underwater vehicle market are collaboratively working with the end users to cater to the rising number of contracts for military drones across different regions.
- In 2019, the US Navy awarded a contract worth US$ 15.8 million to KONGSBERG HYDROID for the MK 18 Family of unmanned underwater vehicle systems.
- In July 2022, the US Defense Advanced Research Projects Agency (DARPA) awarded a contract worth US$ 8.5 million to Boeing for integrating an advanced undersea payload-delivery system aboard the company's Orca extra-large unmanned underwater vehicle (XLUUV).
Kongsberg Gruppen, Teledyne Marine, Lockheed Martin Corporation, Saab AB, L3Harris Technologies Inc, SUBSEA7, ATLAS ELEKTRONIK GmbH, International Submarine Engineering Limited, ECA Group, and Gabri Srl are among the key players operating in the unmanned underwater vehicle market. The market report provides detailed market insights, which help the key players strategize growth in coming years.

Based on accessories, the unmanned underwater vehicle market is segmented into camera, sensor, sonar, navigation system, communication system, and others. The others segment includes components such as lighting systems and video screens. The camera segment is expected to dominate the unmanned underwater vehicle market in 2022, and it is expected to retain its dominance during the forecast period as well. Cameras are being installed on underwater vessels or vehicles for detecting and monitoring nearby and distant obstacles on the way. The imaging companies are constantly focusing on increasing the capabilities of cameras as the demand for high-end and high-megapixel cameras is increasing among unmanned marine drone manufacturers. The high-end cameras provide better output with high quality, facilitating the end users to gather a clear understanding of the underwater world. This factor is compelling the manufacturers ofUUVs to pressure the imaging component manufacturers to design and develop high-end cameras, thereby propelling the demand for cameras in the unmanned underwater vehicle market in the current scenario. It is also expected to bolster the market in the coming years.

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