$8.25+ Bn Military Unmanned Underwater Vehicles Market Opportunities and Strategies to 2034
The global military unmanned underwater vehicles market, valued at $3.94 billion in 2024, is projected to grow at a 7.93% CAGR to $8.26 billion by 2034. Key drivers include military modernization and government initiatives. North America leads, while Asia-Pacific is the fastest-growing region. Against cybersecurity risks and high costs, electric and autonomous vehicles will propel market growth. Kongsberg Maritime is the leading competitor in this fragmented market.
Military Unmanned Underwater Vehicles Market
Dublin, June 18, 2025 (GLOBE NEWSWIRE) -- The "Military Unmanned Underwater Vehicles Market Opportunities and Strategies to 2034" has been added to ResearchAndMarkets.com's offering.
The military unmanned underwater vehicles market is poised for significant transformative growth from 2019 through 2034. The report covers this rapid market evolution, documenting key metrics from the historic period (2019-2024) and projecting trends for the future (2024-2029, 2034F). The report comprehensively evaluates market dynamics across global regions and major economies, offering invaluable insights into future trends and opportunities.
As of 2024, the market reached a valuation of $3.94 billion, growing at a compound annual growth rate (CAGR) of 5.16% since 2019. Looking ahead, the market is expected to expand to $5.78 billion by 2029 at a rate of 7.93%, and further reaching $8.26 billion by 2034, continuing a growth trajectory at a CAGR of 7.41%. The historic period's expansion was driven by factors such as increased defense budgets, rising maritime security threats, and the growing frequency of underwater operations.
Future growth will be propelled by favorable policies, naval fleet expansions, military modernization, and the increasing adoption of unmanned vehicles. However, challenges such as high development costs and cybersecurity vulnerabilities may pose risks to market expansion.
North America emerged as the largest regional market, holding a 40.04% share or $1.58 billion of the total market in 2024, with Asia-Pacific and Western Europe set as future growth leaders. The Asia-Pacific and Western Europe markets are expected to grow at CAGRs of 10.02% and 8.19%, respectively, followed by South America and North America, projected to grow at CAGRs of 7.40% and 7.13%.
The competitive landscape is diverse with small players emerging and occupying 18.84% of the market in 2023. Key players include Kongsberg Maritime, Lockheed Martin Corporation, and General Dynamics Corp., among others. Product segmentation indicates dominance by remotely operated vehicles, accounting for 54.65% or $2.15 billion of the market in 2024, with autonomous underwater vehicles anticipated as the fastest-growing segment at a CAGR of 8.73% from 2024 to 2029. Electric systems lead other propulsion systems, capturing 38.02% or $1.5 billion of the market, and are expected to grow concurrently as the fastest segment at a 10.00% CAGR.
Application segmentation shows defense as the leading segment with a 62.01% share or $2.44 billion, while search and rescue operations are the fastest-growing application segment, expected to achieve a 9.32% CAGR by 2029. Significant growth opportunities exist in the remotely operated vehicle and electric system segments, with substantial gains anticipated in the USA market, projected to add $550.02 million.
Industry trends point towards innovations in large and compact unmanned underwater vehicles enhancing military, naval, and commercial capabilities, alongside strategic collaborations fostering technological advancements. To take full advantage, analysts recommend a strategic focus on enhancing and expanding capabilities of both large autonomous and compact unmanned underwater vehicles, leveraging emerging markets, and fostering strategic partnerships to drive innovation and market penetration.
Major Market Trends
Innovative Large Unmanned Underwater Vehicles Enhancing Military Capabilities
Innovative Compact UUVs Enhancing Naval and Commercial Capabilities
Advancements in Autonomous Underwater Vehicles for Enhanced Maritime Capabilities
Strategic Collaborations Driving Advancements in Military Unmanned Underwater Vehicles
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Key Attributes:
Report Attribute
Details
No. of Pages
339
Forecast Period
2024 - 2034
Estimated Market Value (USD) in 2024
$3.94 Billion
Forecasted Market Value (USD) by 2034
$8.26 Billion
Compound Annual Growth Rate
7.7%
Regions Covered
Global
Companies Featured
Kongsberg Maritime
Lockheed Martin Corporation
General Dynamics Corp
Saab AB
The Boeing Company
Teledyne Marine (Teledyne Technologies Inc.)
L3 Harris Technologies Inc.
Oceaneering International, Inc.
Atlas Elektronik
Huntington Ingalls Industries (HII) (Hydroid Inc.)
Anduril Industries
Aquabotix
C2 Robotics
China Shipbuilding Industry Corporation (CSIC)
China State Shipbuilding Corporation (CSSC)
Daeyang Electric Industry
Hanwha Systems
HD Hyundai Heavy Industries (HHI)
Hyundai Heavy Industries
LIG Nex1
Mitsubishi Heavy Industries (MHI)
Planet Wheel Technology Co., Ltd. (PWT)
Poly Technologies
Sagar Defence Engineering Limited
ShinMaywa Industries, Ltd.
Thales Underwater Systems
TOYO Corporation
Underwater Drone Technologies Pvt Ltd
Wuxi Haiying-Cal Tec Marine Technology Co., Ltd.
Naval Group
BAE Systems
Leonardo S.p.A.
Saipem Sonsub
Autonomous Robotics Ltd.
Gabri S.R.L.
Navantia
SAES and Perseo
Rovco Ltd.
Romanian Navy
WB Group
ZALA Aero Group
IEMZ Kupol
Enamor Ltd.
Aquabotix Technology Corporation
Blue Robotics Inc.
BlueHalo LLC
Cellula Robotics
Deep Ocean Engineering
Dive Technologies
Epsilon Systems Solutions
Forum Energy Technologies
Fugro
Greensea Systems Inc.
Kraken Robotics Systems
Ocean Infinity
Riptide Autonomous Solutions LLC
Sonardyne Inc.
Teledyne Gavia
Arzanah Limited
ELTA Systems Ltd.
Armaments Corporation of South Africa Ltd. (Armscor)
For more information about this report visit https://www.researchandmarkets.com/r/p3f67q
About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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Military Unmanned Underwater Vehicles Market
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