Underwater unmanned vehicles Market is anticipated to hit $6.34 billion by 2023 at a CAGR of 11.28%
Americas held the largest market share and growth rate in the Underwater Unmanned Vehicles Market
Americas region holds the largest market share and growth in the Underwater Unmanned Vehicles Market. North Americas is anticipated to reach $1.8% billion by 2023 at a CAGR of 10.96%. However, when it comes to highest growth rate, South Americas is leading the chart. It is anticipated to reach $917.44 million by 2023 at a CAGR of 14.99%. The key applications in this region include Defense and Government, alongside Academic and Scientific Research among others.
Selected Value Chain Analysis done in the full report
There are various stages at which value is added in the process of manufacturing and selling of the unmanned underwater vehicles including the AUV’s (Autonomous Unmanned Vehicles) and ROV’s (Remote Operated Vehicles). The value chain of the UUV (Unmanned Underwater Vehicles) is a combination of the supply chain as well as the supporting organizations. The supply chain of the UUV contains the suppliers of the raw material, followed by the component manufacturers, product manufacturers, distributors, and finally the operation/sales of the UUV. The Research and development is not the only supporting body for the UUV development. Supporting organizations for the UUV value chain include educational institutions, industry associations, and others. Details of each segment of the value chain are given below.
- Raw Materials: The Main raw materials used in an ROV include the building materials of the casing, which include the sheets of metal, non-corrosive and rustproof, like aluminum or steel. The next most important structure for any underwater vehicle is the pressure hull, which acts as a housing for the electronic assemblies and equipment and also for the power unit. The materials like carbon and glass-fiber reinforced plastic (CFRP) is used for the same in order to stop the water from entering the electronic assembly and to provide protection. These composite materials are mainly procured from China, Japan, South Korea, and other south Asian countries.To maintain the buoyancy of the vehicle, Synthetic foam material is used. This consists of hydrospace quality hollow glass microspheres dispersed in a high strength plastic matrix.
- Components: The components used for building an unmanned vehicle comes next in the value chain. These are the most important tools and sensors and operating devices without which the ROV is just a swimming boat with no features. These components include the UUV unit which can be divided into the Hydraulic power unit, the tether management systems and more. The integral parts which perform the guiding part in the vehicle and acts as the eye are the electronic sensors and tooling devices like the Side Scan Sonar, Conductivity-Temperature-Depth (CTD) sensors, GPS-aided Inertial Navigation Systems (INS), and an Acoustic Doppler Current Profiler (ADCP), and other tools specifically meant for the underwater tooling operations.
- Production: Major fragment of the underwater unmanned vehicles value chain is the assembly and manufacture of the vehicle. This component is handled by the steering manufacturers themselves. The production or manufacturing portion of the ROV value chain consists of manufacturers, auxiliary product suppliers, and production support services.Auxiliary product manufacturers deal with the hardware and software components of ROVs. These companies are located in the USA and UK, Norway, France, and Germany.A large portion of value addition is done by the support service like engineering, machining and others which are used on a contract or spot-transaction basis to solve specific product-line problems.
- Distributors: The distribution network in the case of UUV’s consists of 2 members, which are the Brokers and the post production service providers. Distributors are required to reduce the administrative costs and increase product awareness. There is a low value added at this stage due to the dearth of companies that involve a distribution company. Brokers and sales representatives are local and small companies, having the rights to distribute and sell UUVs. Usually, manufacturers are involved in direct selling in the home market and they sell via distributors of foreign subsidiaries in other countries. Post-production support services include repair, maintenance, and training services. Service-after-the-sale is usually conducted in the manufacturing facilities. Sometimes the manufacturer may authorize service representatives that provide local support. These services involve, providing the customer support, maintaining close contact with the customer and evaluating product performance.
- End User/ Customer: The end-markets where the underwater unmanned vehicles are employed are oil and gas, military and government, and scientific and academic researches research. Its application in oil and gas industry is for underwater construction and repair, pipeline inspection and burial, and detailed ocean mapping. The military uses these vehicles for ISR activities, detecting and neutralizing underwater mines and in various security applications.Scientific organizations employ ROVs for gathering ocean data, mapping, and exploration. Oil and gas application accounts for almost 50% of ROV sales.
Excerpts on Market Growth Factors:
- Factors such as higher oil demand, increased offshore drilling, installation and IMR activity are fueling the growth for Underwater Unmanned Vehicles Market.
- Subsea exploration activity is forecasted to escalate the use of underwater unmanned vehicles market.
- Capex is yet another driver of the underwater unmanned vehicle market. The more the capital expenditure more will be exploration and drilling activity, which will drive the ROV market.
- The safety and environmental regulations are drivers for the improvement and employment of the ROVs.
- Technological advances in the 4-D sensors, navigation system and the ability of AUV to function in greater depths will drive the market in this segment.
- ROV market will be driven by the research activity that is projected to take place in the African and Asia-Pacific region.
- The ROV operations market is driven by the start of new oilfield development, active oilrig count and the volume of offshore capital expenditure.
- The use of ROV for harnessing renewable energy such as wind energy is projected to show growth in the next five years with the offshore wind mill installation activity driving the market.
Key players of Underwater and Unmanned Vehicles Market:
- Some prominent players of Underwater and Unmanned vehicles are SAAB Seaeye,Subsea7, Oceaneering International Inc., Deep Ocean Engineering, MC Schilling Robotics LLC, Bluefin Corp, Fugro Subsea , ECA Robotics, Forum Energy Technologies, Seabotix Teledyne Technologies, Kystdesign, Saipem (Sonsub), SMD (Soil machinedynamics) and others. Some prominent explorers and operators are Monterey Bay Aquarium Research Institute, Ocean Explorer, Canyon Offshore, Oceaneering International, Hibbard Inshore LLC, SaipemAmerica and others
- Key players like Saab Seaeye and iRobot, design, manufacture, and sell their vehicles to end- sers. Typically they manufacture the products in-house, with the help and association with scientific research networks and their customers to develop innovative products.
- The largest ROV operators include SubSea 7 (U.K.), Oceaneering International (U.S.), CNOOC Engineering (China), Halliburton (U.K.), and McDermott International (U.S.).
- Unmanned Aircraft Systems (UAS) Market: By Product Type (Fixed Wing, Rotary Wing); By Size ( Very Small, Small, Medium, Large); By Range (Low cost close range, Close range, Short range. Mid-range, Endurance UAS) By End User (Commercial, Consumer); By End User Applications (Agriculture, Law enforcement, Survey, Others) and By Geography - Forecast(2018-2023)
- Unmanned Ground Vehicle (UGV) Market: By Mode of Operation (Tethered, Tele-Operated, Autonomous); By Size (Micro, Small, Medium, Large), Mobility (Wheeled, Tracked, Legged); By Application (Commercial, Defense) & By Region - Forecast(2018 - 2023)