Unmanned Underwater Vehicles Market
deep-water offshore oil and gas production. There is a rise in the demand for ROV and AUV globally for the military as well as commercial uses. Increased operational efficiency of the ROV to perform complex operations will benefit the market growth. Contributing towards the growth of the market is the miniaturization in AUV and the emergence of air-independent propulsion systems( AIP). However, growth may be affected due to economic crisis and defense budget cuts.
Global Unmanned Underwater Vehicles Market: Regional Analysis
North America dominates the unmanned underwater vehicles owing to reasons such as technological advancements, more offshore discoveries for deep-water extraction and growing incidences of terrorism in the region. Countries contributing towards this growth are the U. S. and Canada. However, in the coming period, the growth rate in North America is expected to slow down. Following the growth in North America are Asia-Pacific, Latin America, and Africa. In Asia Pacific, the growth is primarily concentrated in countries such as China, India, New Zealand and Japan. Growth in Africa can be attributed to the oil and gas exploration programs undertaken in countries such as South Africa and Nigeria and Angola. A significant share is also provided by the European regions, especially from Norway.
Global Unmanned Underwater Vehicles Market: Competitive Players
Some of the major companies in the unmanned underwater vehicles market are Subsea 7, Teledyne Technologies, Oceaneering International Inc., Kongsberg Maritime, Fugro, SAAB, Atlas Elekronik and Bluefin Robotics.