Global Autonomous Underwater Vehicle (AUV) Market by Type (Shallow AUVs, Medium AUVs, and Large AUVs), By Technology (Navigation, Imaging, Collision Avoidance, Communication, Propulsion), By Payload Type (Cameras, Sensors, Synthetic Aperture Sonars, Echo Sounders, Acoustic Doppler Current Profilers, and Others), by Application (Military & Defense, Oil & Gas, Environment Protection and Monitoring, Oceanography, Archeology and Exploration, Search and Salvage Operations), and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)- Global Forecasts to 2027
Global autonomous underwater vehicle market estimated to foster due to the surge in demand for AUV in the oil & gas industry for oil & gas reserve exploration and pipeline monitoring applications
Global autonomous underwater vehicle market size value was USD 436.74 million in 2019, which expected to reach USD 2090.02 million by 2027, growing at a CAGR of 18.33 % during 2020–2027. The primary factors are the growing application of UAV in sea creatures, lakes, and ocean floors, which scientists conduct in the research industries. Additionally, the increasing demand for the AUV systems in the navy and defense sectors as a cost-effective option to revolutionizing their ability to protect key ports will drive the growth of the market. Further, the rapid growth of the autonomous underwater vehicle market proving the fish farming industry an affordable and reliable platform for aqua farmers to monitor water quality parameters, such as turbidity, temperature, and conductivity, and observe fish behavior during feeding processes in aquaculture. These keys factors expected to fuel the growth of the global autonomous underwater vehicle market in future periods.
Moreover, the growing usage of autonomous underwater vehicles in deep-water drilling applications as they eliminate the requirement of surface vessels and can operate autonomously will boom the market growth. Also, the rise in investment in the AUVs technology for advanced military applications such as intelligence, surveillance, investigation, mine countermeasure, oceanography, communication/navigation, anti-submarine warfare, and others led to the robust growth of the AUV industry. The upsurge in the application of AUV in the oil and gas industry such as to provide a detailed map of the seafloor, which ensures companies to build subsea pipelines and infrastructures. Furthermore, AUV provides a better cost-effective way of subsea completion installations without causing any harm to the underwater environment, which will demand the autonomous underwater vehicle.
Type Overview in the Global Autonomous Underwater Vehicle Market
Based on type, the global autonomous underwater vehicle market classified Shallow AUVs, Medium AUVs, and Large AUVs. The Large AUVs segment expected to lead the market by 2027, owing to the surge in demand for large AUVs in oceanography, habitat research, and search & salvage operations as it can operate at larger depth.
Technology Overview in the Global Autonomous Underwater Vehicle market
Based on technology, the global autonomous underwater vehicle market segregated into navigation, imaging, collision avoidance, communication, and propulsion. The imaging segment witnessed the largest market share in 2019 and will dominate by 2027. It is owing to growing usages of imaging technology in military & defense and offshore industries to infiltrate sediments on the seafloor and allowing the detection of layers within sediments.
Payload Type Overview in the Global Autonomous Underwater Vehicle Market
Based on payload type, the global autonomous underwater vehicle market classified into Cameras, Sensors, Synthetic Aperture Sonars, Echo Sounders, Acoustic Doppler Current Profilers, and Others. The Sensors segment projected to lead the market by 2027. It is due to the oil industry applying the applications of sensors for estimating their position and determining the location of objects in their workspace.
Application Overview in the Global Autonomous Underwater Vehicle market
Based on application, the global autonomous underwater vehicle market categorized into military & defense, oil & gas, environmental protection and monitoring, oceanography, archeology, and exploration, search and salvage operations. The archeology and exploration segment will garner the highest revenue by 2027. It is on account of AUV help in locating, identifying, and surveying archaeological sites in the sea and rivers.
Regional Overview in the Global Autonomous Underwater Vehicle Market
By geography, the global autonomous underwater vehicle market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific held a higher market share in 2019 and will continue its dominance by 2027. It is attributable to the increasing demand for AUVs regarding the growing security requirements in countries and the rising oil & gas exploration activities in the APAC region.
Global Autonomous Underwater Vehicle Market: Competitive Landscape
Companies such as Kongsberg Maritime, Teledyne Marine, Bluefin Robotics, ECA GROUP, Saab AB, Lockheed Martin Corporation, Fugro, ATLAS ELEKTRONIK GmbH, Boston Engineering Corporation, International Submarine Engineering, Graal Tech, BAE Systems, Boeing, L3Harris OceanServer, and Hydromea SA are the key players in the global autonomous underwater vehicle market.
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