Europe Underwater Unmanned Vehicle Market, By Type (Remotely Operated Vehicle (ROV), Autonomous Underwater Vehicle (AUV)), Product Type (Heavy Work Class Vehicle, Work Class Vehicle, High-Capacity Electric Vehicle and Small Vehicles), Components (Inertial Navigation Systems, Cameras, Lighting Systems, Sensors, Video Screens, Synthetic Aperture Sonar and others), Propulsion System (Hybrid Systems, Electric Systems and Mechanical Systems), Operating Depth (1000-3000m, 200-1000m, less than 200m and more than 3000m), Size Range (HWV (12.75-21), LWV (9-12.75), Man-Portable (3-9) and Large (>36)), Application (Defense, Commercial Exploration, Scientific Research and Others), Country (U.K., Germany, France, Netherlands, Italy, Russia, Spain, Switzerland, Turkey, Belgium and Rest of Europe) Industry Trends and Forecast to 2027
The underwater unmanned vehicle market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with the CAGR of 14.2% in the forecast period of 2020 to 2027 and is expected to reach USD 2,893.42 million by 2027. Increasing number of offshore oil & gas activities and development in AUV technologies are major factors for the underwater unmanned vehicle market growth.
Increasing maritime threats and growing adoption of underwater unmanned vehicle by naval forces is further driving the underwater unmanned vehicle market growth. The competition in the market is getting severe as market players are expanding their presence, service and support for European market. For instance, in September 2020, BAE Systems has launched a new product in its Maritime division Riptide UUV-12, it is a new addition to its product portfolio, integrated with radio frequency signal collection, RF electronic warfare, active acoustics and many other advanced components and it is a 12 inch diameter vehicle to go into the sea. This new launch has enhanced and increased their product line.
The limited energy density and lifespan of batteries limits the reach of the underwater unmanned vehicle, ocean being covered on such a large part of earth and occupying a large area makes it highly necessary for unmanned vehicle to travel to a longer distance in a single charge which restricts the underwater unmanned vehicle market growth. Rapid improvements in battery and fuel cell technologies by manufacturers are attracting many industries and acts as an opportunity for the growth of the underwater unmanned vehicle market. The various operational hurdles faced by underwater unmanned vehicles while carrying out missions is a major factor which is posing as a challenge for the growth of the underwater unmanned vehicle market.
This underwater unmanned vehicle market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the underwater unmanned vehicle market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
The underwater unmanned vehicle market is segmented on the basis of type, product type, components, propulsion system, operating depth, size range and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the underwater unmanned vehicle market has been segmented into remotely operated vehicle (ROV) and autonomous underwater vehicle (AUV). In 2020, remotely operated vehicle (ROV) segment accounts for the largest market share in type segment as it is more convenient to operate underwater unmanned vehicles via remote station.
- On the basis of product type, the underwater unmanned vehicle market has been segmented into heavy work class vehicle, work class vehicle, high-capacity electric vehicle and small vehicles. In 2020, extensive use of heavy vehicles for in-depth drilling and major underwater projects is driving the heavy work class vehicle segment growth.
- On the basis of components, the underwater unmanned vehicle market has been segmented into inertial navigation systems, cameras, lighting systems, sensors, video screens, synthetic aperture sonar and others. In 2020, a navigation system is a core component of any vehicle as it gives accurate position and continuously process data, which is propelling the inertial navigation systems segment growth.
- On the basis of propulsion type, the underwater unmanned vehicle market has been segmented into hybrid systems, electric systems and mechanical systems. In 2020, higher efficiency of hybrid systems during operations is fuelling the hybrid systems segment growth.
- On the basis of operating depth, the underwater unmanned vehicle market has been segmented into 1000-3000m, 200-1000m, less than 200m and more than 3000m. In 2020, as major operations are executed at more than 1000m but less than 3000m, thus it is thrusting the 1000-3000m segment growth.
- On the basis of size range, the underwater unmanned vehicle market has been segmented into HWV (12.75-21), LWV (9- 12.75), man-portable (3-9) and large (>36). In 2020, as HWV is mainly used globally in coordination with optimum operating depth, thus it is driving the HWV (12.75-21) segment growth.
- On the basis of application, the underwater unmanned vehicle market has been segmented into defence, commercial exploration, scientific research and others. In 2020, large induction of underwater unmanned vehicle into their fleet to counter incoming threats and carry out counter surveillance is boosting the defence segment growth.
Europe Underwater Unmanned Vehicle Market Country Level Analysis
Europe underwater unmanned vehicle market is analysed and market size information is provided by country, type, product type, components, propulsion system, operating depth, size range and application as referenced above.
The countries covered in the Europe underwater unmanned vehicle market report are the U.K., Germany, France, Netherlands, Italy, Russia, Spain, Switzerland, Turkey, Belgium and rest of Europe.
Germany is expected to dominate the Europe underwater unmanned vehicle market as newer technologies are being built in Germany and are promoted as next generation in autonomous underwater vehicles. Also, various innovation and research centers are opened so as to undertake and develop the design of underwater unmanned vehicle. France is expected to follow Germany as the defence ministry has started procuring many autonomous underwater vehicles to induct them in their fleet for counter surveillance. Moreover, newer concepts such as underwater drones are being tested for use. The U.K. is expected to dominate growth after France as the U.K. navy is partnering with major private players to procure autonomous underwater vehicles. Also other investments firms and large corporations are investing heavily with underwater unmanned vehicle manufacturers.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increasing Need for Ocean Floor Mapping
Europe underwater unmanned vehicle market also provides you with detailed market analysis for every country growth in installed base of different kind of products for underwater unmanned vehicle, impact of technology using life line curves and changes regulatory scenarios and their impact on the underwater unmanned vehicle market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Underwater Unmanned Vehicle Market Share Analysis
Europe underwater unmanned vehicle market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to underwater unmanned vehicle market.
The major players covered in the Europe underwater unmanned vehicle market report are BAE Sytems, Huntington Ingalls Industries, Inc., ECA Group, Modus Seabed Intervention Limited, Oceaneering International, Inc., Kongsberg Maritime, Saab AB, Teledyne Technologies Incorporated, ATLAS ELEKTRONIK GmbH, Fugro, Lockheed Martin Corporation, Boeing, SUBSEA 7, L3Harris Technologies, Inc., Inc. among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launches and agreements are also initiated by the companies’ worldwide which are also accelerating the underwater unmanned vehicle market.
- In January 2019, Saab AB entered into an agreement with Ocean Power Technologies (OPT) to focus on autonomous underwater vehicle (AUV) and remotely operated underwater vehicle (ROV) charging and communications systems. This has helped the company to enhance their product offerings and to grow in the market.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for underwater unmanned vehicle through expanded product range.