Market - - Oct 31,2017
The worldwide oil and gas industry is on a substantial rise; this factor is highlighting the greater use of unmanned underwater vehicles.
Unmanned underwater vehicles or drones operate underwater without any human presence. Such vehicles can be controlled underwater through remote access by human or can even be guided independently through human instructions.
Presently, with rising demand for fuel energy, the global oil and gas industry is experiencing the higher need for unmanned underwater vehicles for carrying out exploration activities. This aspect is surely boosting the market importance for unmanned underwater vehicles. As per research findings, commercial exploration activities are on a significant escalation which comprises of offshore drilling, surveys, pipeline inspection and seabed mapping.
The global market for unmanned underwater vehicles is on a fabulous growth route and is expected to generate US$2.4 bn by the end of 2017. Furthermore, the concerned market is also projected to augment at a CAGR of 11.80% during the period until 2022. Presently, the different product versions for unmanned underwater vehicles include autonomous underwater vehicles (AUVs) and remotely operated vehicles (ROVs). Apart from commercial exploration, the areas of defense and scientific research are known to be the prime application providers for unmanned underwater vehicles.
It has been observed the North American region has been successful in adapting to this technology quite early; therefore, dominating the unmanned underwater vehicles market. Statistics anticipate that North America would continue to lead the market over the coming years. Some of the striking players actively offering well-equipped unmanned vehicles to the customers include names like Subsea 7, Teledyne Gavia ehf, Boeing Co., Thales SA, Kongsberg Maritime AS, General Dynamics Corp., Oceaneering International Inc., Saab AB, Lockheed Martin Corp. and Atlas Elektronik GMBH.
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