Unmanned Underwater Vehicle Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Unmanned Underwater Vehicle Market covers analysis by Type (Remotely Operated Vehicle and Autonomous), Accessories (Camera, Sensor, Sonar, Navigation System, Communication System, and Others), and Application [Commercial (Oil & Gas Industries, Environmental Monitoring, Hydrography, Search & Recovery, and Harbor Surveys), Defense, and Research], and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Sep 2023

  • Report Code : TIPTE100001272
  • Category : Aerospace and Defense
  • Status : Upcoming
  • No. of Pages : 160
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The unmanned underwater vehicle market is expected 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.

More autonomous unmanned systems are expected to be developed and deployed by the prime countries in the coming years. This will provide them with significant knowledge of operating such systems and facilitate measuring their future requirements. In pursuit of elevating the robustness of existing force capabilities, defense organizations are expected to continually invest in developing and procuring enhanced systems in the coming years. Distinguished innovations in terms of software and hardware are expected to fuel the demand for unmanned systems among defense forces.

Based on application, the defense segment is expected to account for the largest share of the global unmanned underwater vehicle market in 2022. Unmanned underwater vehicles have a wide range of applications in defense and commercial sectors and research organizations. The deployment of such unmanned marine vehicles in naval forces dates long back, and the major defense forces, such as the US, the UK, Russia, France, and China, are investing substantial amounts in developing robust UUVs. Moreover, defense forces across the globe are encountering maritime security threats such as seabed mines, submarine warfare, and anti-ship & anti-submarine missiles. These potential threats are pressurizing the defense forces to use unmanned underwater systems to counter these threats and reduce risk to human lives. In addition, the manufacturers of unmanned underwater vehicles are integrating enhanced ISR capabilities and improved sensors for smart and connected underwater vehicles, which is increasing the interest among the defense forces to deploy advanced UUVs and strengthen their naval forces.

Strategic Insights

Regional Analysis of Unmanned Underwater Vehicle Market 

Asia Pacific (APAC) has been an active participant in the UUV market for over a decade and has made significant development since then. China and Japan are the pioneers in UUV development in APAC, whereas India is a rapidly emerging economy in the UUV market. Moreover, majority of the Asian economies, including Australia, Japan, China, Singapore, and Vietnam, use UUVs that are manufactured by domestic and international suppliers such as Xi'an Tianhe Maritime Technologies, Beijing Unbtek Innovation Technology Co Ltd, Tianjin Deepinfar Ocean Technology Co Ltd, Hydroid Inc, and Mitsubishi Heavy Industries Ltd for mine countermeasures (MCM), underwater research, and border surveillance applications. MCM are the key missions for UUVs, and in APAC, most of the navies conglomerate MCM-based UUVs with intelligence, surveillance, and reconnaissance (ISR). However, the ISR missions that are beyond MCM require maturity in terms of concepts and technologies. Such factors are generating new market opportunities for market vendors across the global unmanned underwater vehicles market.

Lucrative Regions – Unmanned Underwater Vehicle Market Share

Lucrative Regions – Unmanned Underwater Vehicle Market Share

Market Insights – Unmanned Underwater Vehicle Market

Accessories-Based Insights

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 of UUVs 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.

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.

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Accessories, and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The List of Companies - Unmanned Underwater Vehicle Market

  1. Kongsberg Gruppen
  2. Teledyne Technologies Inc.
  3. Lockheed Martin Corporation
  4. Saab AB
  5. L3 Technologies Inc.
  6. SubSea 7
  7. Atlas Elektronik GmbH
  8. International Submarine Engineering Ltd.
  9. ECA Group
  10. Gabri S.R.L

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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