Underwater unmanned vehicles Market is anticipated to hit $6.34 billion by 2023 at a CAGR of 11.28%

According to the new market research report by IndustryARC titled “Unmanned Underwater Vehicles (UUV) Market: By Type (AUV, ROV, Hybrid), By Applications (Defense, Scientific and Academic Research, Commercial Exploration, Retrieval System), By ROV Class (Work, Observation) - With Forecast (2018 – 2023)”, the market is driven by the increasing need for Ocean Data Collection and  finding new market reserves.

Browse 71 Market Tables, 176 Figures spread through 185 slides and an in-depth TOC on “Unmanned Underwater Vehicles (UUV) Market (2018 - 2023)”

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.