Automotive

Global Autonomous Underwater Vehicle market

April 28, 2020
ID: SR/ICT-41
Format:Pdf
Pages:220

Global Autonomous Underwater Vehicle (AUV) Market by Type (Shallow AUVs, Medium AUVs, and Large AUVs), By Technology (Navigation, Imaging, Collision Avoidance, Communication, Propulsion), By Payload Type (Cameras, Sensors, Synthetic Aperture Sonars, Echo Sounders, Acoustic Doppler Current Profilers, and Others), by Application (Military & Defense, Oil & Gas, Environment Protection and Monitoring, Oceanography, Archeology and Exploration, Search and Salvage Operations), and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)- Global Forecasts to 2027

Description

Global Autonomous Underwater Vehicle Market Overview:

The autonomous underwater vehicle (AUV) is a mission controller that integrates artificial intelligence and other advanced computing technologies. It is a type of unmanned underwater vehicle (UUV). Underwater unmanned aerial vehicle (UUV) technology is no longer a new thing in military or civil aspects. It integrates deep submersibles, sensors, environmental effects, computer software, energy storage, conversion and propulsion, new materials, and new technologies, as well as high-tech underwater smart weapons. AUV used in defense in anti-submarine warfare, mine warfare, reconnaissance and surveillance, and logistics support.

Global Autonomous Underwater Vehicle Market Insights

Global autonomous underwater vehicle market size value was USD 436.74 million in 2019, which expected to reach USD 2090.02 million by 2027, growing at a CAGR of 18.33 % during 2020–2027. The key factors are the growing demand for the autonomous underwater vehicle for archeology and exploration purposes. Further, the surge in demand for the autonomous underwater vehicle for reliable security measures at maritime borders will propel the growth of the market. Additionally, the rise in the applications for the autonomous underwater vehicle for surveillance, ocean floor mapping, and inspection is estimated to drive the global autonomous underwater vehicle industry. Furthermore, the growing number of research activities in the oil & gas industry, along with the rising government spending for seawater monitoring to maintain aquatic life balance, will foster the autonomous underwater vehicle market.

Moreover, the increasing adoption of robotics autonomous underwater vehicles in defense and security applications will positively impact the autonomous underwater vehicle market. Also, the upsurge in the applications of AUVs in the oil & gas industry, such as pipeline inspections, platform inspections, bathymetric surveys, and search and rescue operations, will promulgate the demand of autonomous underwater vehicle in the future periods. Additionally, the surge in the demand of AUVs in various military applications such as anti-submarine warfare, oceanography, payload delivery, and mine counter will boom the market growth. The growing usage of AUVs for scientists & researchers in habitat & oceanography studies will garner the growth of the autonomous underwater vehicle industry.

Growth Driver

Increasing applications of the autonomous underwater vehicle in offshore oil & gas industry

The AUV application is divided into observation type and working underwater robot. These are generally equipped with manipulators, which are used for underwater operations such as rescue in the sea, salvage, cable laying, operation, and maintenance of offshore oil and other production systems. The main functions of AUV are submarine observation of submarine topography, landform, operation status, etc., determination of relevant parameters, disassembly and assembly of bolts, and opening and closing of valves in underwater operations.

Development and incorporation of advanced technologies in AUVs

The autonomous underwater vehicle (AUV) is an important equipment for exploring the ocean, and have great potential in ocean observation, exploration, and underwater extreme environment operations. At present, most of the AUVs carry heavy hydraulic rigid mechanical arms and grippers, which have great shortcomings in underwater biological sampling, archaeological testing, and salvage of precious products. The new concepts, such as the Internet, Internet of Things, cloud computing, big data, deep learning, transfer learning, edge computing, autonomous computing will enable intelligent AUVs to appear in various forms, such as sea-land-air integration, full-sea depth, ultra-long-range, ultra-long-range high speed, nuclear power, cross-media, cluster operation, etc.

Type Segmental Analysis

Based on type, the global autonomous underwater vehicle market classified Shallow AUVs, Medium AUVs, and Large AUVs. The Large AUVs segment held maximum market share in the global autonomous underwater vehicle in 2019. It is attributable to its ability to operate at a great depth, such as more than 1000m is useful military & defense and oil & gas exploration applications.

Shallow AUVs will grow at a lucrative rate in the forecast period. It is owing to its demand in the application of observations of water column properties and benthic zones.

Technology Segmental Analysis

Based on technology, the global autonomous underwater vehicle market segregated into navigation, imaging, collision avoidance, communication, and propulsion. The imaging segment accounted for a higher revenue share in 2019 and projected to dominate the autonomous underwater vehicle market by 2027. The growth can be attributed to imaging systems is capable of capturing pictures of the seabed and surrounding areas, and it is suitable for habitat research, fishery study, oceanography, and archeology & exploration applications.

The navigation will grow with a lucrative growth rate in the forecast period. It is due to navigation systems that are used for achieving an accurate underwater mission completion.

Payload Type Segmental Analysis

Based on payload type, the global autonomous underwater vehicle market classified into Cameras, Sensors, Synthetic Aperture Sonars, Echo Sounders, Acoustic Doppler Current Profilers, and Others. The sensors segment will hold higher market potential by 2027 in the global autonomous underwater vehicle market. It is owing to sensors is useful for scanning, detecting, mapping, and remote sensing application.

The camera segment held a significant market share in 2019. It is due to the growing demand for the camera for the collection of high-resolution color images that allow identification of animals to the species level and visual records of significant seafloor features.

Application Segmental Analysis

Based on application, the global autonomous underwater vehicle market categorized into military & defense, oil & gas, environmental protection and monitoring, oceanography, archeology, and exploration, search and salvage operations. The archeology and exploration segment will garner the highest CAGR by 2027 in the global autonomous underwater vehicle market. The growth can be attributed to AUVs used for the extraction of minerals such as cobalt, zinc, and magnesium. Further, these minerals are used in the fabrication of smartphones, laptops, and hybrid cars, among others.

The oceanography segment will grow at a profitable rate in the forecast period. It is owing to AUV used in the oceanography for map obstructions, rock formations, and submerged wrecks for usage in security applications.

Region Segmental Analysis

Based on geography, the global autonomous underwater vehicle market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia-Pacific is slated to account for a significant share by 2027 in the autonomous underwater vehicle market. The growth in the region can be attributed to the presence of major players especially in the China-South Korea, and India coupled with the growing usages of AUVs in the various end-users such as military & defense, oil & gas, environmental protection and monitoring, oceanography, archeology, and exploration, etc.

North America is projected to provide significant growth opportunities due to the growing application of autonomous underwater vehicles in the oil and gas industry, and the ocean research & defense sector.

Competitor Analysis

Companies such as Kongsberg Maritime, Teledyne Marine, Bluefin Robotics, ECA GROUP, Saab AB, Lockheed Martin Corporation, Fugro, ATLAS ELEKTRONIK GmbH, Boston Engineering Corporation, International Submarine Engineering, Graal Tech, BAE Systems, Boeing, L3Harris OceanServer, and Hydromea SA are the key players in the global autonomous underwater vehicle market.

Key Stakeholders

Market research and consulting firms
Industry associations
Global Autonomous Underwater Vehicle manufacturing firm
Research organizations and consulting companies
Organizations, associations, and alliances related to autonomous underwater vehicle
Regulatory bodies
Suppliers
Retailers

Recent Developments

In March 2019, Teledyne RD Instruments (US) launched the industry’s most advanced workhorse navigator, Doppler velocity log (DVL). DVL has extended bottom tracking ranges from 0.15 m to 420 m, up to a water depth of 6,000 m. It is also equipped with a field swappable transducer.
In April 2019, Teledyne Gavia ehf. (Iceland) launched the SeaRaptor AUV, which can work at a depth of 6,000 m. SeaRaptor is equipped with acoustic modems, ascent and descent weight releases, a black box pinger locator, a sub-bottom profiler, multi-beam echo sounders, an obstacle avoidance multi-beam sonar, a Doppler velocity log, a current, temperature, and depth sensor, and onboard processing software.
In August 2019, Teledyne RD Instruments (US) received a contract from the US Naval Undersea Warfare Center to supply autonomous underwater vehicles (AUVs) and related monitoring and communication acoustic systems. The contract was worth USD 22 million, which is expected to be made available till December 2024.

Scope of the Report

Report Attribute	Details
Market size value in 2020	USD 1.9 Billion
Revenue forecast in 2027	USD 436.74 Million
Growth Rate	CAGR of 18.33% from 2020 to 2027
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Kongsberg Maritime, Teledyne Marine, Bluefin Robotics, ECA GROUP, Saab AB, Lockheed Martin Corporation, Fugro, ATLAS ELEKTRONIK GmbH, Boston Engineering Corporation, International Submarine Engineering, Graal Tech, BAE Systems, Boeing, L3Harris OceanServer, and Hydromea SA

The objective of the Research

Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.

Market Modelling

By Type

Shallow AUVs
Medium AUVs
Large AUVs

By Technology

Navigation
Imaging
Collision Avoidance
Communication
Propulsion

By Payload Type

By Application

By Region

North America
Europe
Asia Pacific
South America
Middle East & Africa

Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What is the growth rate of the global autonomous underwater vehicle market?

The global autonomous underwater vehicle market was valued at USD 436.74 Million in 2020 and is projected to reach USD 2090.02 Million by 2027, growing at a CAGR of 18.33% during the forecast period, 2020-2027.

What are the key driving factors for the global autonomous underwater vehicle market?

The global autonomous underwater vehicle market is expected to grow significantly due to the growing trend of independent underwater inspection and the rising need for maritime security globally.

What is the COVID-19 impact on the global autonomous underwater vehicle market?

COVID-19 harmed the autonomous underwater vehicle market. The market has been harmed because of the COVID-19 pandemic as the corresponding reduction in revenues for various payload suppliers, service providers across all markets due to late delivery, manufacturing shutdown, the limited staff at manufacturing facilities, and limited availability of equipment.

What region has the largest share in the global autonomous underwater vehicle market?

The Asia Pacific is highly lucrative in the global autonomous underwater vehicle market. This is due to the existence of major players, especially in China-South Korea, and India coupled with the growing usages of AUVs in several end-users such as military & defense, oil & gas, environmental protection and monitoring, oceanography, archaeology, and exploration.

Who are the top key players in the global autonomous underwater vehicle market?

Kongsberg Maritime, Teledyne Marine, Bluefin Robotics, ECA GROUP, Saab AB, Lockheed Martin Corporation, Fugro, ATLAS ELEKTRONIK GmbH, Boston Engineering Corporation, International Submarine Engineering, Graal Tech, BAE Systems, Boeing, L3Harris OceanServer, and Hydromea SA are the key players in the global autonomous underwater vehicle market.

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