Advertisement
UK markets closed
  • NIKKEI 225

    38,102.44
    -712.12 (-1.83%)
     
  • HANG SENG

    17,936.12
    -5.66 (-0.03%)
     
  • CRUDE OIL

    80.52
    +0.19 (+0.24%)
     
  • GOLD FUTURES

    2,335.20
    +6.20 (+0.27%)
     
  • DOW

    38,778.10
    +188.94 (+0.49%)
     
  • Bitcoin GBP

    52,321.45
    -107.43 (-0.20%)
     
  • CMC Crypto 200

    1,389.40
    +1.24 (+0.09%)
     
  • NASDAQ Composite

    17,857.02
    +168.14 (+0.95%)
     
  • UK FTSE All Share

    4,437.53
    -0.84 (-0.02%)
     

Global Commercial Unmanned Maritime Systems Growth Opportunities

ReportLinker
ReportLinker

The purpose of this study is to highlight the most important applications in the unmanned maritime systems (UMS) market on a global scale and discuss how international developments are shaping it.For practical purposes, UMS are divided into 2 segments: unmanned surface vehicles (USVs) and underwater unmanned vehicles (UUVs).

New York, May 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Commercial Unmanned Maritime Systems Growth Opportunities" - https://www.reportlinker.com/p06282540/?utm_source=GNW


Due to their history of proven commercial success in the oil and gas industry, UUVs hold the majority of market share. The current market size for commercial UMS is roughly $698.9 million, with a yearly growth rate of 5.3%. The analyst expects the market to be worth more than $906.0 million by 2026. The vast majority of this demand comes from the oil and gas industry.Geopolitical tensions in Eastern Europe are causing significant alterations in the global oil and gas industry: petrol prices are rising rapidly and several countries are looking for new sources to reduce dependence on Russian oil. As a result, oil production is bound to increase around the world in the next 3 years, and many UMS (particularly underwater systems) will play a key role in this development, allowing oil production to scale in regions where oil extraction is performed off-shore. Furthermore, demand for this type of unmanned system will increase as oil and gas companies try to lower costs to keep petrol prices competitive. However, the biggest factors driving market growth are the environmental benefits of using these systems. UMS, especially those that rely on alternative energy sources for propulsion, have a much lower carbon footprint than manned vessels, helping companies cut down their carbon emissions significantly.While UMS can be used simultaneously with other unmanned platforms, particularly aerial, there are few partnerships in place that enable unmanned-unmanned teaming applications. Furthermore, while several governments have increased spending on UMS technology to improve their military capabilities, commercial end users may not benefit from doing so because the improvements prioritized by the military do not always align with what businesses need for their applications. Another restraint to growth comes from the price points of maritime systems, which are the highest among all types of unmanned vehicles.In conclusion, this study details the most important growth opportunities for both manufacturers and businesses looking to implement unmanned solutions. Overall, the oil and gas industry represents the most significant opportunity for UMS market growth. This Frost & Sullivan analysis draws from internal databases, industry papers, academic articles, trade magazines, and news sites specialized in unmanned systems and technology. Frost & Sullivan also conducted interviews with industry participants to gather deeper insights from users and manufacturers about the UMS landscape.
Read the full report: https://www.reportlinker.com/p06282540/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001