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Autonomous Underwater Vehicle

RA00259

Autonomous Underwater Vehicle (AUV) Market, by Technology, (Collision Avoidance, Navigation, Communication, Imaging, and Propulsion Technologies), Type (Shallow Unit, Medium Unit, and Large Unit), Applications, (Military & Defense, Oil & Gas, Environmental Protection & Monitoring, Oceanography, Archeological & Exploration, and Search & Salvage Operations.), Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026

RA00259

Pages: NA

Jun 2020

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Impact of covid-19 on Autonomous Underwater Vehicle (AUV) Market

Autonomous Underwater Vehicle Market Analysis:

Autonomous underwater vehicle (AUV) is a self-controlled robotic machinery used to survey water bodies, sea beds, and check the chemical and biological properties of water. AUVs are capable of providing highly accurate data and information such as superior quality maps of the deep seafloor. Autonomous underwater vehicles are unmanned and controlled via remote sensors and are mounted with high-resolution video cameras, mechanical manipulators, as well as automatic tools that are capable of drilling and collecting samples. They are majorly used in the oil and gas industry for deepwater scanning, pipeline and
platform inspection, and damage control. 

Deep-sea reach, reliability and rost efficiency and ability to work in hostile conditions are key drivers of autonomous underwater vehicle market

The growth of the global autonomous underwater vehicle market is significantly driven by low operational cost, the requirement of less workforce, extensive use in oil & gas industries for inspection work, and high efficiency to perform deep-sea tasks. Furthermore, the potential of AUVs to reach deep seafloors and the ability to tackle underwater storms is also expected to boost the growth of the autonomous underwater vehicle, during the forecast period. Market players across the world are emphasizing on technological breakthroughs of AUV to acquire a prominent position in the global market. For instance, in April 2019, Teledyne Gavia ehf., the significant AUV manufacturer, has launched the SeaRaptor AUV which is capable of running operation at a depth of 6000m and it can be customized according to the user’s needs. These developments may create a huge impact on the global autonomous underwater vehicle market, during the forecast period. 

High investment and maintenance cost are negatively impacting the Autonomous Underwater Vehicle Market

Autonomous underwater vehicles are extremely cost-intensive, which makes their production and development cost high. Also, they need regular maintenance for smooth functioning which is also high cost. These factors are expected to restrain the Autonomous underwater vehicle’s market growth.

Opportunity rise in capital expenditure in the offshore industry

Capital expenditure in the offshore industry has significantly increased due to the increased demand for oil and gas resources globally, creating an opportunity to grow exponentially as well for the AUV market. The Global oil & gas industry has started extensive use of the AUV in their oil rigs. AUVs have proven to be beneficial in inspection work and provide various other important information and data to these industries. Due to the added benefits and decreased operational costs, the oil and gas industry is attracted to invest more in the AUV market, which in turn has created a lucrative opportunity for the AUV market’s growth.  

Autonomous Underwater Vehicle Market, by Technology:

Navigation segment will be the most lucrative till 2026

The navigation segment will have rapid growth in the global market and is projected to register a significant revenue during the analysis period. Navigation technology is extremely important in accomplishing various underwater missions and it ensures safety from any collisions. Navigation technology is also used in safe recoveries and to detect the position or location of AUV. The latest developments in underwater navigation have been vital to AUV manufacturers. Furthermore, the recent upgradation in navigation technology such as an underwater acoustic positioning system that helps in underwater tracking using subsequent position triangulation and is capable of providing accurate locations. These advancements may lead to drive the growth of this segment.

Autonomous Underwater Vehicle Market, by Type:

The shallow unit segment will register a significant growth till 2026

The Shallow unit segment will have a dominating share in the global market and is expected to register a significant revenue during the forecast timeframe. Shallow unit AUVs have a depth reach of 100m and are mostly used for observations of physical, chemical, and biological characteristics of seawater. Furthermore, they are used in analyzing epipelagic zones (less than 200 mts) and provide various vital data, images, and information which are used in various research work. In addition, low operational costs and high accuracy data are also expected to drive the demand for this segment, during the forecast period.

Autonomous Underwater Vehicle Market, by Application:

Archeological & Exploration segment will be the most lucrative till 2026

The Archeological and exploration sector will be the most lucrative segment till 2026 for AUV’s market. The extensively growing underwater exploration activities which are used to study, analyze, drill, and excavate the resources of minerals such as zinc, magnesium, and cobalt. Further, the surging demand for such minerals as raw materials in automotive and consumer electronic devices is also expected to drive the growth of the market. The AUVs are also used to explore deep sea beds, rock formations, wrecks, and debris which could be a potential archeological site. Also due to the rise in water levels in oceanic bodies across the globe, multiple archeological sites have started to submerge in water making their exploration complex. This issue has positively affected the global market as AUVs have facilitated in the archeology work, as it could capture data and images of the sites and provide it for further analysis. This has created a lucrative opportunity for AUV manufacturers as the demand for the same has risen by archeologists and research institutes.

Autonomous Underwater Vehicle Market, by Region:

Asia-Pacific region will have exponential growth in the global Autonomous Underwater Vehicle market

Extensive increase in underwater activities such as exploration of seafloors for minerals,  and general archeological activities to study water beds are anticipated to boost the growth of the Asia-Pacific Autonomous underwater vehicle market, during the forecast period. Moreover, the military and defense sector in this region has also started investing in the AUV’s to enhance their understanding of surrounding water bodies. For example, India has recently procured and added Adamya AUV for security and research purpose. The Adamya AUV can be used for underwater mine detection, ocean surveillance and can even be used for countermeasure operations. In addition, key players such as Saab AB, and ATLAS ELEKTRONIK GmbH have opened multiple offices and manufacturing outlets in the Asia-Pacific region has also directly facilitated in AUV market’s growth in the region. 

To explore more about Autonomous Underwater Vehicle Market, get in touch with our analysts here.

https://www.researchdive.com/connect-to-analyst/259

Key Participants in the Global Autonomous Underwater Vehicle Market

Merger & acquisition and advanced product development are the frequent strategies followed by the market players

Key Participants in the Global Autonomous Underwater Vehicle Market

Some of the significant autonomous underwater vehicle market players include ATLAS ELEKTRONIK GmbH, Lockheed Martin Corporation., Saab AB, General Dynamics Mission Systems, Inc., Boston Engineering Corporation, International Submarine Engineering Limited, L3Harris OceanServer, Teledyne Technologies Incorporated, KONGSBERG, Fugro.

Autonomous Underwater Vehicle market players are concentrating more on strategic merger & acquisition and product development. These are the frequent strategies followed by established as well as start-up enterprises. To focus more on the competitor analysis of market players, the porter’s five force model is explained in this report.

 

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2018

  Forecast timeline for Market Projection

  2019-2026

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Technology

  • Collision Avoidance
  • Navigation
  • Communication
  • Imaging
  • Propulsion Technologies

  Segmentation by Type

  • Shallow Unit
  • Medium Unit
  • Large Unit

  Segmentation by Application

  • Military & Defense
  • Oil & Gas
  • Environmental Protection & Monitoring
  • Oceanography
  • Archeological & Exploration
  • Search & Salvage Operations.

  Key Countries Covered

U.S., Canada, Germany, France, Spain,

Russia, Japan, China, India, South Korea, Australia, Brazil, and Saudi Arabia

  Key Companies Profiled

  • ATLAS ELEKTRONIK GmbH
  • Saab AB
  • General Dynamics Mission Systems, Inc.
  • Boston Engineering Corporation
  • Lockheed Martin Corporation.
  • International Submarine Engineering Limited
  • L3Harris OceanServer
  • Teledyne Technologies Incorporated
  • KONGSBERG
  • Fugro

Source: Research Dive Analysis


FREQUENTLY ASKED QUESTIONS?
 

A. Saab AB, Lockheed Martin Corporation., and KONGSBERG are the leading companies in the Autonomous Underwater Vehicle market.

A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. Technological advancements, product development, along with joint ventures are the key strategies opted by the operating companies in this market.

A. KONGSBERG and Fugro are investing more in R&D practices.

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