Global Autonomous Underwater Vehicle (AUV) Market Trends, Business Overview, Industry Growth and Forecast to 2022-2028

The global autonomous underwater vehicle (AUV) market is anticipated to grow at a CAGR of 22.5% during the forecast period (2022-2028). Autonomous underwater vehicles (AUVs) are programmable, robotic vehicles that depending on their design can drift, drive, or glide through the ocean without real-time control by human operators. These vehicles are useful for a wide range of missions such as shipwrecks, mapping rock formations, and other barriers which could prove dangerous for commercial navigations vessels. Autonomous underwater vehicles are equipped with cutting-edge sensor technologies. For instance, sonar systems and oceanographic sensors are sensors that can complete the entire mission instead of any operator. After the completion of the mission, these vehicles return to their original place or location. The increase in the number of research activities in the oil and gas industry, along with an increase in government spending on seawater to monitor for maintaining the marine life are some driving factors for the growth of the global autonomous underwater vehicle (AUV) market. Additionally, the increase in growth of the fish farming is another driving factor for the market growth as these vehicles are affordable in providing a reliable platform for aqua farmers to monitor water quality, such as temperature, and observe fish behavior, among others.

Some major players in the market include Teledyne Technologies, Saab AB, and BAE Systems plc, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in June 2021, KA Group AG revealed the JCS Compact and JCS Extended which is a jet control system. These new water jet control systems are constructed to ensure top performance even in the most extreme conditions. Additionally, in November 2020, SeaRobotics Corp announced the SR-Utility 3.0, next-generation Utility Class ASV. This latest addition to the SRC portfolio is intended to broaden the scope of autonomous coastal marine survey activities by providing professional surveyors with a configurable platform that supports interchangeable payloads and sensors and incorporates existing instrumentation.

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Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028

• Segment Covered-
o By Type
o By Application
o By Technology

• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

Competitive Landscape- Teledyne Technologies, Saab AB, and BAE Systems plc, among others.

Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

A full report of Global Autonomous Underwater Vehicle (AUV) Market is available at:
https://orionmarketreports.com/global-autonomous-underwater-vehicle-auv-market/102192/

Global Autonomous Underwater Vehicle (AUV) Report by Segment

By Type
• Shallow AUVs
• Medium AUVs
• Large AUVs

By Application
• Military & Defense
• Oil & Gas

By Technology
• Collision Avoidance
• Communication
• Navigation
• Propulsion
• Imaging

Global Autonomous Underwater Vehicle (AUV) Report by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa

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Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.

This release was published on openPR.