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.
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.
The report also examines the role of leading players in the market. Some of the key players listed in the study are:
Ocean Aero Inc.
Pelorus Naval Systems
Teledyne Technologies Inc.
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).