Unmanned underwater vehicles market is forecast to be worth US$4.84 billion by 2019. The global UUV market will exhibit a robust growth over the next five years. The global ROV market is estimated to be $1.2 billion in 2014 and is expected to register a CAGR of 20.11% in 2019. The global AUV market is estimated to be $457 million in 2014 and is expected to register a CAGR of 31.95% in 2019.
The ROV and AUV markets are driven by the increasing need of ROV and AUV in areas such as offshore drilling; oceanographic studies; underwater inspection and maintenance; and surveillance and security. With the evolution of technology, better endurance, miniaturization, and enhanced payloads, ROV and AUV are efficiently used for undersea activities. The commercialization of ROV and AUV and its increased capabilities have revolutionized their growth over the years. Offshore drilling will remain the prime sector for ROV. Defense and oceanographic studies will remain a major sector for AUV.
The Asia-Pacific, Latin American, and African regions will prove to be emerging markets for the Unmanned Underwater Vehicles. SAAB (Sweden), Fugro (The Netherlands), Oceaneering (U.S.), will be the market leaders that occupy a significant market share for ROV. Kongsberg (Norway), Teledyne (U.S.), Bluefin Robotics (U.S.), and Atlas Elekronik (Germany), will be the leaders in the AUV market.
The global unmanned underwater vehicles market is forecast to total US$4.84 Billion by 2019, growing at a high CAGR from 2014 to 2019. The global ROV market is estimated to be $1.2 Billion in 2014 and expected register a CAGR of 20.11% in 2019. The global AUV market is estimated to be $457 Million in 2014 and expected register a CAGR of 31.95% in 2019.
The typical lifecycle of ROV is 8-10 years and AUV is 6-8 years, with maintenance and subsystem replacements that take place mid lifecycle.
The ROV market future can be dominated by the AUV in the coming decades. The improved AUV capabilities and the autonomy feature will involve the AUV for operationsthat restrict the use of ROV due to entanglement. The endurance and miniaturization of AUV will strive to be the prime driver for undersea operations. The introduction of the AIP (Air Independent Propulsion) systems and solar cells technology will change the future of the AUV.
In the Asia-Pacific region specifically, the BRIC countries will prove to be the emerging markets for the UUV with their activities in the scientific research, and oil and gas sectors. The growth in North America and Europe will be sluggish compared to Latin American, Asia-Pacific, and the Africa. APAC countries will focus on growth, try to create obvious market space, and direct their region’s economies on a higher course in the future. The UUV market will show a stringent growth for defense operations like anti-submarine warfare, including oil and gas applications like mine hunting, mine counter measures, oil rig constructions, and pipeline inspection activities.
Other technological trends will include the miniaturization of AUV and the increased number of payloads for the ROV to perform complex ultra-deepwater operations. Also, the reduction in the price of ROV and AUV will be a major concern for manufacturers.