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What's driving the Autonomous underwater vehicle market Market Size? General Dynamics Corp., Teledyne Gavia ehf, Kongsberg Maritime AS, Saab AB, Atlas Elektronik GMBH, ECA Robotics SAS, L3 OceanServer

What's driving the Autonomous underwater vehicle market Market

Increasing offshore oil & gas exploration activities are expected to create robust demand for autonomous underwater vehicles. Autonomous underwater vehicles play an important role in offshore oil & gas exploration activities as they provide surveying, dredging, installation and maintenance support. With more than half the offshore oil & gas potential yet to be explored, and growing investments in the industry, the autonomous underwater vehicle market is expected to witness significant demand in the coming years.

Some of the key players involved in the autonomous underwater vehicle market included in this study are General Dynamics Corp., Teledyne Gavia ehf, Kongsberg Maritime AS, Saab AB, Atlas Elektronik GMBH, ECA Robotics SAS, Fugro N.V., L3 OceanServer, Hydromea SA, and International Submarine Engineering Ltd.

The autonomous underwater vehicle market is expected to be valued at US$ 371.3 Mn in 2019. During the course of the forecast period, the market is expected to register a CAGR of over 6%.

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Autonomous underwater vehicles are generally used in aquaculture systems for a variety of underwater tasks such as tank water monitoring in fish farming. Aquaculture production has been increasing rapidly, making fish farming one of the fastest growing industrial sectors across the world. This has been significantly contributing to the growth of the global autonomous underwater vehicle market.

Moreover, autonomous underwater vehicles are also used for the monitoring of sea water quality in order to maintain sea water quality. For this, government bodies such as the US Environment Protection Agency (EPA) have implemented regulations on the use of sea water quality, which in turn is expected to fillip the demand for autonomous underwater vehicles over the forecast period.

Numerous, if not all, ocean-based or maritime industries depend on autonomous underwater vehicles for the setting up or expansion of the respective industry. Maritime industries are expected to experience significant growth in the coming decade, owing to global economic development and increasing demand.

Industries such as shipping, shipbuilding, coastal aquaculture, fishing, offshore oil & gas, offshore wind, maritime tourism tidal and wave energy are projected to witness robust growth over the projected period, which in turn is expected to boost the demand for autonomous underwater vehicles in the coming years.

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Autonomous underwater vehicles are deployed for a limited number of operations, on account of technological uncertainties and subsequent risks as water rapidly absorbs electromagnetic radiation waves, making communication systems ineffective and inefficacious. In addition, aquatic environments also create challenges for autonomous underwater vehicles. These factors collectively affect the overall sales of autonomous underwater vehicles.

Increasing number of research studies pertaining to ocean exploration and sampling as well as substantial growth of the oil & gas industry and scientific research organizations are expected to create a significant opportunity for autonomous underwater vehicles during the forecast period.

Table of Content

Chapter 1 Global Autonomous Underwater Vehicle Market - Executive Summary 19

1.1 Executive Summary 19
1.2 Wheel of Fortune 20

Chapter 2 Global Autonomous Underwater Vehicle Market Overview 21

2.1 Introduction 21
2.1.1 Global Autonomous Underwater Vehicle Market Taxonomy 21
2.1.2 Global Autonomous Underwater Vehicle Market Definition 21
2.2 Global Autonomous Underwater Vehicle Market Size (US$ Mn) and Forecast, 2013-2027 21
2.2.1 Global Autonomous Underwater Vehicle Market Y-o-Y Growth 21
2.3 Global Autonomous Underwater Vehicle Market Dynamics 22
2.3.1 Macro-Economic Factors 22
2.3.1.1 Global GDP Forecast (US$ Mn) & Y-o-Y Growth, 2012 – 2027 22
2.3.1.2 Global Total Energy Consumption Forecast (Quadrillion Btu) & Y-o-Y Growth, 2012 – 2027 23
2.3.1.3 Global Total Energy Consumption Market Share Forecast 2012 – 2027 by Category, 2016 23
2.3.1.4 North America GDP Forecast (US$ Bn) & Y-o-Y Growth, 2012 – 2027 23
2.3.1.5 Latin America GDP Forecast (US$ Bn) & Y-o-Y Growth, 2012 – 2027 24
2.3.1.6 Western Europe GDP Forecast (US$ Bn) & Y-o-Y Growth, 2012 – 2027 24
2.3.1.7 Eastern Europe GDP Forecast (US$ Bn) & Y-o-Y Growth, 2012 – 2027 24
2.3.1.8 APEJ GDP Forecast (US$ Bn) & Y-o-Y Growth, 2012 – 2027 25
2.3.1.9 MEA GDP Forecast (US$ Bn) & Y-o-Y Growth, 2012 – 2027 25
2.3.1.10 Japan GDP Forecast (US$ Bn) & Y-o-Y Growth, 2012 – 2027 25
2.3.2 Global GDP and International Trade 26
2.3.3 Global Seaborne Trade – Back on Track 27
2.3.4 Value added of ocean-based industries in 2015 by industry (Ocean-based industries contribute roughly USD 1.5 trillion (2.5%) to global gross value added 28
2.3.5 Chinese Trade in the Pacific 28
2.3.6 AUVs Operated by the Offshore Oil and Gas Industry 29
2.3.7 Development and Investment by U.S. 29
2.3.8 Global Economy Overview 30
2.3.9 Global Oil & Gas Consumption Forecast Outlook 30
2.3.10 Potential Applicability of Autonomous Vehicles in Naval Missions 31
2.4 Market Value Chain Analysis 31
2.5 Cost Structure Analysis: 32
2.6 Regulations 32
2.7 Key Participants Market Presence (Intensity Map) By Region 33
2.8 Market Dynamics 33
2.8.1 Drivers 33
2.8.2 Restraints/Challenges 34
2.8.3 Opportunities 34
2.8.4 Trends 35
2.9 Forecast Factors 36

Continued……

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Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

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