Market Trends

There are two types of unmanned underwater vehicles which are Autonomous Underwater Vehicles and Remotely Operated Vehicles. The main difference is that AUV does not require continuous human interference or control and operates according to the pre-programmed instructions while the ROV is controlled continuously via an umbilical cord. Unmanned underwater vehicles (UUVs) are primarily used in defense and government operations, academic and scientific research, commercial activity and retrieval systems. Offshore oil and gas industry heavily depends on the vessels and container facilities provided by UUVs in deep waters for various exploration and upstream processes. Commercial Exploration in the ocean depths for oil, gas and minerals is a relatively recent activity. Since deep and ultra-deep oceans still remain to be an unexplored part of the planet, tremendous increase in the underwater activity can be foreseen in the near future. The market size in 2017 was estimated to be $2.7 bn and