The report “Unmanned Underwater Vehicles Market– By Type (AUV, ROV, Hybrid); By Applications (Defense, Scientific and Academic Research, Commercial Exploration, Retrieval System); By ROV Class (Work, Observation) – Global Forecast to 2020″, defines and segments the global underwater unmanned vehicles market with an analysis and forecast of the market size.
Browse Market Data Tables & Figures spread through 185 pages and in-depth TOC on “Unmanned Underwater Vehicles Market– By Type (AUV, ROV, Hybrid); By Applications (Defense, Scientific and Academic Research, Commercial Exploration, Retrieval System); By ROV Class (Work, Observation) – Global Forecast to 2020”
Request Sample @ http://industryarc.com/pdfdownload.aspx?id=7397
As per a recent study by IndustryARC, the global unmanned underwater vehicles market was around $2.4 Billion in 2014 and will register a CAGR of 11.3% for the period 2015-2020. As quoted by the analyst Mr. Chinmay, the AUV utilization rate for commercial applications will be on rise, registering a CAGR of around 25% for 2015-2020 and ROV operations market is projected to increase at around 7% comparatively. Asia-Pacific and African regions are estimated to register the higher growth rates of around 30% during the forecast period of the study.
North America and Europe are extensively using unmanned underwater vehicles for commercially finding new oil reserves along with its traditional use in defense and research activities. In 2014 these regions contributed around 45% and 30% respectively to the total revenue. Africa and Asia-Pacific regions contributed least towards revenue generation since very few large scale research expedition defense tasks are carried out using UUVs. Commercial use for exploration purposes has upped in recent past and the UUV market in Asia-Pacific region has tremendous growth potential since the economies in this region are growing very fast and higher offshore activity is anticipated to fulfill the growing energy demand. Unmanned underwater vehicles are the best bet to explore large subsea areas to find new oil and gas reserves in shallow as well as deep-waters considering harsh environment and safety concerns.
Request for Customization @ http://industryarc.com/requestcustomization.aspx?id=7397
In 2014, the defense and research segment combined contributed around 31% respectively and commercial segment contributed around 65% of the total unmanned underwater vehicles revenue. Defense and research market is immune to macroeconomic factors and is unlike the volatile nature of the offshore oil and gas industry. It is estimated to grow at a CAGR of 17% during 2015-2020 while the commercial segment is estimated to register a CAGR of 8% for the same period. Also to note is the operations or rental market for unmanned underwater vehicles is estimated to register a healthy growth rate of around 11%.
Bluefin Robotics, Teledyne Gavia and Kongsberg maritime are some of the key AUV manufacturing companies currently. Woods Hole Oceanographic institute, Norwegian Defense Research Establishment and many other organizations are involved in design and development of AUVs to meet the requirements of the growing clientele across industry verticals. Oceaneering is the largest ROV operating company by fleet size and also by revenue globally and they manufacture their own ROV and operate. Subsea7 has second largest ROV fleet and dominates the ROV market in South American region.
Higher capital investment in R&D, in-depth technical knowledge and upgraded infrastructure support requirements act as a barrier in adopting and utilizing this technology. The challenges faced by unmanned underwater vehicles industry include real-time communication and control at large depths and processing the huge amount of data collected and converting it into a comprehendible format. Considering overall scenario, it is evident that use of UUV has made security and defense tasks less hazardous to human life and research and commercial applications easier to execute at great depths. The technological advancements, in manipulator arms, navigation and positing systems, propulsion, battery capacity and improved range of sensors leading to higher efficiency and accuracy, are driving the global unmanned underwater vehicles market.
Inquiry Before Buying @ http://industryarc.com/inquiry-before-buying.aspx?id=7397
IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications of the Market. Our Custom Research Services are designed to provide insights on the constant flux in the global demand-supply gap of markets. Our strong analyst team enables us to meet the client research needs at a very quick speed with a variety of options for your business.
We look forward to support the client to be able to better address customer needs; stay ahead in the market; become the top competitor and get real-time recommendations on business strategies and deals. Contact us to find out how we can help you today.
13346 NY, USA.
Phone No: +1-614-588-8538 (Ext – 101/102)