Autonomous Underwater Vehicle Manufacturing
The Autonomous Underwater Vehicle (AUV) Manufacturing industry has experienced robust growth over the past five years. The industry generates the majority of its revenue from military and security markets for surveillance, reconnaissance, mine countermeasures and antisubmarine warfare. Many AUVs are largely still developmental products, and the US military's focus on the product is indicative of future commercial growth potential. Despite federal funding for defense declining over the five years to 2018, revenue has still increased as the military maintained its focus on AUVs despite cutting spending in other areas. The industry has also generated some of its fastest growth from oil and gas companies, which have increasingly used AUVs in mapping the ocean floor and performing pipeline inspections. Over the next five years, the AUV Manufacturing industry is expected to continue its double-digit growth. The primary driver of this growth will be increased military funding of industry programs such as the Orca XLUUV and Snakehead LDUUV. Moreover, as the cost of AUVs continues to drop, commercial demand for industry products will rise.
This industry includes companies that manufacture autonomous underwater vehicles (AUVs), which are vessels that travel underwater without an operator and with its own power source. AUVs are used for commercial purposes (mainly in the oil and gas industries), military use and research purposes.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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