Unmanned Marine Vehicle Market expected to register CAGR of 11.67%

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Unmanned Marine Vehicles

Most of the unmanned vehicles in use are aerial in nature. However, use of unmanned vehicles for marine purposes is expected to increase in the future. A majority of investors, such as Sophic Capital, believe that Unmanned Marine Vehicles is a nascent market with scope to provide lucrative opportunities to investors. Sea drones and unmanned underwater vehicles are expected to have high demand.

Governments increasing investments in drones

Various governments have been using unmanned marine systems for defense and research purposes. It has been reported that the Chinese government deployed about 12 drones, in an unspecified location in international waterways, which are reportedly being used for scientific observations, according to Chinese President Xi Jinping’s administration. The US Navy, in addition,  has around 130 of these drones, collecting oceanic data. Oceanic data collection has been a pivotal advantage of unmanned marine vehicles, as only less than 5% of the seabeds have been explored, with water covering over 70% of Earth. This is primarily due to the hostile conditions present in oceanic environments, such as extreme temperatures, high pressure, and lack of light.

Drone Registrations - Unmanned Marine Vehicles

The Department of Defense submitted about USD 6.97 billion as a request for R&D, system-specific construction, and drone procurement, for the fiscal year 2018. Currently, one of the largest UUV projects for the Navy is the Large Displacement Unmanned Undersea Vehicle, which will provide surveillance and reconnaissance, acoustic surveillance, anti-submarine warfare, mine counter-measures, and aid in offensive operations. Advancement in technology has attributed various abilities to AUV’s, such as varied shape, and functions, such as hovering, dive, surface, etc.

Companies have been interested in developing products for Oil and Gas Sector

The monitoring of assets, as well as, assessing safety, maintenance, and production is imperative in large-scale industries, like the Oil & Gas industry. These processes are complex, expensive, and risky, most of the time. Companies, like Planys Technologies, have been offering ROVs to ease these logistics and reduce the risk in the process. Many startups that have been proliferating in the domain, such as DeTect, indicate the growth potential of the market.

Speak to our Research Analyst to know more about the Market Dynamics and Market Segmentation

The report also examines the role of leading players in the market. Some of the key players listed in the study are:

General Dynamics

BAE Systems

Ocean Aero Inc.

Pelorus Naval Systems

Kongsberg Gruppen

ECA Group

Textron Inc.

Teledyne Technologies Inc.

ASV Global

Access the full report to know more about each key player, and its competition.

About the Unmanned Marine Vehicles Market

As per Mordor Intelligence’s analysis, the Unmanned Marine Vehicles Market is expected to register a CAGR of 11.67% during the forecast period (2018-2023).

Get the full report to know more about the Unmanned Marine Vehicles Market comprehensive analysis

Lohit Kilaru
Lohit Kilaru Kilaru Naga Lohit works as a Research Associate for the ICT domain at Mordor Intelligence. He holds a degree in manufacturing engineering and is dedicated to providing key industry insights on the new and emerging technologies through investigating trends, analyzing data and engaging with Tech & Research community.
Lohit Kilaru Kilaru Naga Lohit works as a Research Associate for the ICT domain at Mordor Intelligence. He holds a degree in manufacturing engineering and is dedicated to providing key industry insights on the new and emerging technologies through investigating trends, analyzing data and engaging with Tech & Research community.  

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