Kongsberg Gruppen ASA

Oceaneering International and Kongsberg Gruppen have been jointly selected by the U.S. Department of Defense's Defense Innovation Unit to develop an Extra Large Uncrewed Undersea Vehicle for the Combat Autonomous Maritime Platform program. The award places Oceaneering in a central role within a high-profile autonomous undersea defense initiative, aligning with its existing subsea robotics and remote operations capabilities. The work currently focuses on concept definition and design, with no immediate visibility on production-scale orders or long-term revenue. Oceaneering reported sales of US$768.18 million and net income of US$65.02 million for the second quarter of 2026, and the company has repurchased US$170.82 million of stock since 2014. The partnership with Kongsberg, which has a long history in maritime systems, may help Oceaneering compete for future phases against peers such as General Dynamics, Lockheed Martin, and Saab.

The global unmanned underwater vehicles market is projected to grow from USD 6.91 billion in 2026 to USD 19.22 billion by 2031, at a CAGR of 22.7%, according to a new report by MarketsandMarkets. The market spans autonomous underwater vehicles and remotely operated vehicles, with growth driven by naval modernization programs, offshore energy inspection needs, and rising investment in oceanographic research. Asia-Pacific is the largest region in 2026, while military and defense leads by application and AUVs are the fastest-growing type. Key players include Kongsberg, L3Harris Technologies, and Oceaneering International.