The global Unmanned Underwater Vehicles Market size is projected to grow from USD 2.0 billion in 2020 to USD 4.4 billion by 2025, at a CAGR of 16.4% from 2020 to 2025. The market is driven by various factors, such as the growing trend of modernization of underwater inspection and the rising demand for maritime security globally.
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Lockheed Martin Corporation (US), Saab AB (Sweden), Kongsberg Gruppen (Norway), Northrop Grumman Corporation (US), Oceaneering International, Inc. (US) among others, are some of the leading players operating in the UUV market. These players have adopted various organic and inorganic growth strategies to strengthen their position in the market. These include new product developments, contracts, partnerships, expansions, agreements, acquisitions, and research & development (R&D) activities further to expand their presence in the UUV market.
Kongsberg Gruppen (Norway) is one of the leading companies in the UUV market and a leading manufacturer of AUV and ROV equipment. This is primarily due to the company’s large number of contracts with other leading stakeholders in this market. Kongsberg Maritime have a broad product portfolio of capabilities and technology compared to other key players. Hence, it has been ranked first in the ROV and AUV market respectively.
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Lockheed Martin Corporation (US) is another prominent in the UUV market. Lockheed Martin’s Marlin AUV system provides a range of civilian and military products that offer an easy way to conduct subsea surveys and inspections, and the company is expanding it for the oil and gas industry to enable economical, safer, and faster and more efficient inspections.
Oceaneering International Inc. (US) is estimated to be the one of the leading players in the UUV market. The company has been focusing on new agreements and contracts as a strategy to increase its product offerings and market share. The company’s well-established distribution network serves as an important factor for future growth.
Teledyne Technologies Inc. (US) also held the prominent position in the market. The company invests high in R&D, while protecting its specialised products and services. It has a technically sophisticated workforce to cope with the ever-changing technologies, advanced manufacturing strengths, high intellectual property, brand-name in the industry and goodwill among the customers. Similarly, SAAB AB (Sweden) is the leading player in the UUV market. The company conducts R&D activities, which involve applied research, new product and systems development, and select concept studies. Its R&D investments remain top priority and are key to its competitiveness.
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