Autonomous Underwater Vehicle (AUV) Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2027 | By Kenneth Research

Global Autonomous Underwater Vehicle (AUV) Market is valued approximately USD 0.52 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 20.8 % over the forecast period 2020-2027. Autonomous underwater vehicles (AUV) can be operated without human intervention, also available in several types, such as shallow, medium, and large. Autonomous Underwater Vehicle (AUV) are equipped with technologies such as communication, collision avoidance, navigation, imaging, and propulsion. AUVs used in wide range of industries such as military & defense, environmental protection & monitoring, oceanography, archaeological & exploration, and search & salvage operations. The global Autonomous Underwater Vehicle (AUV) is being highly demanded due to the coronavirus pandemic. As AUV can be operated without human intervention. The increasing capital expenditure of companies in offshore oil & gas industry and rising defense spending of countries worldwide are the factors responsible for the growth of Autonomous Underwater Vehicle (AUV) Market.

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For instance: as per Statista, the United States spend around USD 466.76 billion on its military in 2000 and the figure is increased by USD 718.69 billion military spending in 2019. Furthermore, the introduction of products and services and other strategic alliance by market key players will create a lucrative demand for this market. For instance: on 31st March 2020, Kongsberg Maritime launched LARS (Launch and Recovery System) solution for its HUGIN range of Autonomous Underwater Vehicles (AUVs). Launching and recovering AUVs under water, will lessen the possibility of damage , while boosting productivity to deliver significant cost savings. However, high operational costs of AUVs is the major factor restraining the growth of global Autonomous Underwater Vehicle (AUV) market during the forecast period.

The regional analysis of global Autonomous Underwater Vehicle (AUV) Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to the growing adoption advanced technologies has lead the growth of the market. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.

Major market player included in this report are:
Kongsberg Maritime
Teledyne Marine
Bluefin Robotics
ECA Group
Saab AB
Lockheed Martin Corporation
Fugro
Atlas Elektronik Gmbh
Boston Engineering Corporation
International Submarine Engineering (ISE)

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Shallow AUVs (up to 100 meters)
Medium AUVs (up to 1,000 meters)
Large AUVs (more than 1,000 meters)

Technology:
Collision Avoidance
Communication
Navigation
Propulsion
Imaging

By Payload Type:
Camera
Sensor
Synthetic Aperture Sonars
Echo Sounders
Acoustic Doppler Current Profilers
Others

By Application:
Military & Defense
Oil & Gas
Environmental Protection & Monitoring
Oceanography
Archeology & Exploration
Search & Salvage Operations

By Shape:
Torpedo
Laminar Flow Body
Streamlined Rectangular Style
Multi-hull Vehicle

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Autonomous Underwater Vehicle (AUV) Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

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