AUV Market Growing at 15.49% CAGR to 2021 Led by Defense
PUNE, India, August 2, 2016 /PRNewswire/ --
According to a new report "Global Automatic Underwater Vehicle (AUV) Market: Trends, Opportunities and Forecasts (2016-2021)", the AUV market is forecasted to grow at a CAGR of 15.49% during 2016 - 2021F on account of rising demand in the oil and gas energy along with significant government-to-government investments into the defence, scientific research and oil and gas sectors. Growing energy needs, emerging economies, high adoption rate of AUVs across application areas in defence & scientific research and offshore oil & gas explorations and increasing defence spending provide the ample growth opportunities for the AUV market to thrive.
Complete report on Automatic Underwater Vehicle (AUV) Market spreads across 125 pages, provides 7 tables and 48 figures is now available at http://www.reportsnreports.com/reports/642699-global-automatic-underwater-vehicle-auv-market-trends-opportunities-and-forecasts-2016-2021-by-value-uuvs-rovs-auvs-auv-market-by-region-north-america-europe-latin-america-asia-pacific-middle-east-africa-key-players-recommendations-.html .
Latin America and Africa are expected to experience the highest growth owing to deep water oil & gas activities in pre-salt areas, Europe will have high AUV market growth with North Sea and Norwegian Sea being the major subsea pipeline inspection equipment's market. Demand in Asia will be diverse with deep water expenditure in India, Indonesia and Malaysia; research activities in Japan, and military investment in China.
The key sectors for AUV market applications in the report are commercial, scientific, and defense. Among all, the defense application is expected to hold the largest share of the market accounting for 49% in 2015.
There has been the growing need for scientific research applications being addressed for oceanography and environmental protection & monitoring, high adoption rate of AUVs across application areas in defence & scientific research and offshore oil & gas explorations; and increasing defence spending has led to increase in demand for AUV market. But stringent government regulations regarding oil & gas leaks, Higher Installation Cost, water contamination, environmental & public health is one of the biggest restraints faced by this industry. The level of spending in the government-to-government investments into the defence, scientific research and oil and gas sectors has driven the market.
Order a Copy of 2016 AUV market report with 2021 forecasts at http://www.reportsnreports.com/purchase.aspx?name=642699.
The market in developed regions is matured and is witnessing consistent growth except for North America while the developing regions are expected to witness high growth in the Automatic Underwater Vehicle (AUV) Market especially in Africa & Asia Pacific.
Strategic Recommendations: Demand for Sub Sea Data to Drive the AUV Market; User Friendly Interfaces to remain Core Technological Driver; Small and Light Weighted AUV's to dominate the Oil and Gas Space by Volume.
Companies profiled in this AUV market 2016-2021 research report include: Kongsberg Gruppen ASA, Teledyne Technologies Inc., Oceaneering International Inc., Subsea 7, FUGRO, Boston Engineering, Lockheed Martin Corporation, Atlas Elektronik Gmbh, General Dynamics Mission Systems, Saab AB and ECA SA.
The "Global Automatic Underwater Vehicle (AUV) Market: Trends, Opportunities and Forecasts (2016-2021) (By Value - UUVs, ROVs, AUVs; AUV Market By Region - North America, Europe, Latin America, Asia Pacific, Middle East & Africa; Key Players; Recommendations)" report presents an in-depth assessment of the Automatic Underwater Vehicle (AUV) including key trends, market drivers, challenges, policy & regulatory landscape, opportunities, value chain, SWOT analysis, Porter's Five Forces Analysis, player profiles and strategies. The report also presents market size forecasts for Automatic Underwater Vehicle (AUV) from 2016 through to 2021.
Explore other new reports on automotive market http://www.reportsnreports.com/market-research/automotive/.
On a related note, the Defense Industry Business Outlook and Procurement Report H1 2016 research says 46% of defense industry executives expect supplier prices to increase in the next six months and over one-third of defense industry executives highlighted limited or generalized deployment of e-procurement within their organizations. Procurement expenditure for defense organizations is projected to increase by an average of 7% over the next six months. Overall, 29% of executives expect the global procurement budget to remain lower than US$250,000 over the next six months. In total, 22% of respondents with business operations in Asia-Pacific communicated their intention of implementing e-procurement in their organizations. Read more at http://www.reportsnreports.com/reports/567421-defense-industry-business-outlook-and-procurement-report-h1-2016.html .
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