Military UUV market will be worth as much as $10.17 billion by 2030, study saysNews
March 01, 2022
AMSTERDAM. The global military unmanned underwater vehicle (UUV) market is projected to grow to $10.17 billion by 2030, at a combined annual growth rate (CAGR) of 10.2% from 2022 to 2030, according to a report from Market Forecast, "Unmanned Underwater Vehicles (UUV) for Defense and Security – Market and Technology Forecast to 2030."
Growth in this market, say the authors of the report, is expected to be driven by the latest technological advancements, an increase in global defense spending, and more major research and development programs in the UUV arena.
The report details the benefits of UUVs, which include allowing naval and security commanders to keep their staff out of harm’s way, plus the ability to increase operational tempo in high threat areas without risking large and expensive platforms. The prediction is that increased use of UUVs will mean not only a revolution in military affairs, but also changes in operations of oil and gas, engineering, marine science, and other civilian activities.
For additional information visit the Market Forecast website.