Autonomous Underwater Vehicle (AUV) Market Size, Share, Outlook, Growth, Top trends, Business Analysis, Application & Forecast to 2023

MRFR offering latest research report Autonomous Underwater Vehicle (AUV) Market: Information by Type (Shallow, Medium, Large), by Technology (Communication, Collision Avoidance, Navigation, Imaging, Propulsion), by Payload (Sensors, Cameras, Synthetic Aperture Sonars, and Others), by Application (Military & Defense, Oil & Gas, and Oceanography) and by Region -- Global Forecast till 2023

Autonomous Underwater Vehicle (AUV) Market Key Players

MRFR listed some of the important key players that are operating in the worldwide market of autonomous underwater vehicle. They are; General Dynamics Corporation (US), International Submarine Engineering Limited (Canada) Lockheed Martin Corporation (US), Teledyne Technologies Incorporated (US), Kongsberg Group (Norway), Groupe Gorg (Paris), Saab AB (Sweden), Boston Engineering Corporation (US), Fugro (The Netherlands), and GRAAL, Inc.(Italy).

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Autonomous Underwater Vehicle (AUV) Market Scope

Market Research Future (MRFR), in its latest "Autonomous Underwater Vehicle (AUV) Market" report, reveals that the global market of autonomous underwater vehicle is expected to strike a CAGR of 21.80% across the forecast years of 2018 to 2023." MRFR asserts, the autonomous underwater vehicle market is likely to attain a substantial valuation in the years of evaluation.

Autonomous Underwater Vehicle (AUV) Market Scenario

Autonomous underwater vehicle are programmable robotic vehicles those designs varying depending on activity, such as drifting, driving, and gliding through the ocean. They can operate without real-time command from an operator. They also have enhanced security and surveillance capabilities that assist a defense personnel to execute covert operations.

These causes are identified as factors that are likely to fuel the growth of the autonomous underwater vehicle market. The increase in demand for AUVs across different cash-rich verticals, such as oil & gas, and military & defense and the impact of environmental protection rules are expected to bolster the expansion of market in the years to come. In addition, the rising importance for reliable security measures is expected to support the market growth. On the downside, the high price of operations and increase in the stringency of government regulations that pertain to communication are likely to dampen the market growth.

Autonomous Underwater Vehicle (AUV) Market Segmental Analysis

The autonomous underwater vehicle (AUV) market's segmental analysis is done on the basis of type, technology, payload, and application. The segmental study aids in deriving better insights of the market and its progress. By type, the market has been classified in to shallow, medium, and large. The large segment is expected to dictate the course of progress of the market. It is likely to hold the largest revenue portion of the global market due to factors, such as increase in deep sea operation activities like mine hunting.

By technology, the market is divided into propulsion, imaging, collision avoidance, and communication. The collision avoidance segment can expected to hold a major portion of the revenue generated by the global autonomous underwater vehicle market. It is sue to AUVs' features, such as cameras and navigation sensors, those assist in communicating via Ethernet. The greater safety offered by AUVs is expected to propel their market growth.

By payload, the market is segmented into sensors, cameras, echo sounder, synthetic aperture sonars, acoustic doppler current profilers, and others. The sensors segment is anticipated to thrive at the highest CAGR because sensors enable in more effective navigating, tracking, and detecting submarines. They aid in establishing connections via various multimedia gadgets, such as cameras that help in providing clear images of targets.

By application, the market has been segmented into military and defence, oil and gas, oceanography, environmental protection, archaeology, and search and savage operations. The military and defense segment is expected to hold the largest share of the market. Factors, such as surge in defense expenditure by economies, technological developments, and the growing need for enhanced surveillance systems are expected to fuel the growth of the autonomous underwater vehicle market.

Detailed Regional Study

The autonomous underwater vehicle market is expected to gain high revenue for the market. In North America, the market is expected to hold the largest share for the review period. The presence of well-established market players, such as General Dynamics Corporation and Lockheed Martin Corporation is also observed to contribute to the growth of the regional market. The market in Asia Pacific can surge at the highest growth rate in the forecast period due to the increase in the rate of adoption of AUVs by governments of economies, such as India.

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