Autonomous Underwater Vehicles (AUV) Market SWOT Analysis of Top Key Player Forecasts to 2027

Autonomous Underwater Vehicles (AUV) Market 2022

The global autonomous underwater vehicle market is projected to reach US$ 596.7 Mn by the end of the forecast period, 2018-2027, registering a CAGR of 6.1%.  Persistence Market Research's new market research report titled "Autonomous Underwater Vehicles (AUV) Market: Global Industry Analysis 2013-2017 and Forecast, 2018-2027," throws light on the autonomous underwater vehicle (AUV) market and offers a deep-dive analysis for the next 9 years.

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Key Companies- 

• General Dynamics Corporation
• Teledyne Gavia ehf
• Kongsberg Maritime AS
• Saab AB
• Atlas Elektronik GMBH
• ECA Robotics SAS
• Fugro N.V.
• L3 OceanServer
• Hydromea SA
• International Submarine Engineering Ltd

Aquaculture & Maritime Applications Deploy Maximum Autonomous Underwater Vehicles

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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Strong Resurgence of Oil & Gas Industry to Benefit Autonomous Underwater Vehicles 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.

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.

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Key Questions Answered in the Report
• How has the autonomous underwater vehicle market evolved over the past four years?
• What shape is the autonomous underwater vehicle market expected to take in terms of volume and value during the study period?
• What are some of the prevailing market dynamics in the autonomous underwater vehicle market?
• What are the competition developments and trends in the autonomous underwater vehicle market?
• What are some of the underlying macro-economic and industry factors impacting the growth of the autonomous underwater vehicle market?
• What are the important key challenges, opportunities and improvement factors for autonomous underwater vehicle market players?
• What are the important market positioning and key strategies of key manufacturers as per the autonomous underwater vehicle market taxonomy?
• How is the competition structured at present? How has it evolved in the autonomous underwater vehicle market over the past few years?

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