Global Autonomous Underwater Vehicle Market to Surpass USD 5.95 Bn By 2031| Growth Market Reports

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PUNE, India, July 3, 2023 /PRNewswire/ -- According to a recent market study by Growth Market Reports, titled, "Global Autonomous Underwater Vehicle Market Segments - by Type, Shape, Technology, Propulsion System, Payload Type, Application, and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031", the market size was USD 1.78 Bn in 2022 and is expected to surpass USD 5.95 Bn at a CAGR of 14.3% by the end of 2031.

Key Players Covered

• Lockheed Martin Corporation
• General Dynamics Corporation
• Boeing
• Kongsberg
• BAE Systems
• ATLAS ELEKTRONIK GmbH
• International Submarine Engineering Limited
• Eelume AS
• ECA GROUP
• Graal Tech Srl

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The report covers data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics. It provides an in-depth analysis of market segments, industry players, and crucial strategies that helps market players to boost their market share.

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Key Takeaways:

• AUVs are self-propelled or unmanned vehicles that are equipped with sensors and actuators.
• Increasing adoption in defense and growing exploration of rare earth minerals are expected to boost the demand for AUVs.
• The medium AUVs (100m-1000m depth) segment is projected to expand at the fastest CAGR, owing to rising adoption in the oil & gas and defense sector.
• The military & defense segment is anticipated to hold a major market share due to increasing demand for intelligence, surveillance, and reconnaissance activities.
• North America is expected to dominate the global market, owing to the increasing defense budgets and rising procurement of advanced AUVs by the Navy for ISR operations.

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Segment Covered

Type

• Small AUVs (upto 100m depth)
• Medium AUVs (100m-1000m depth)
• Large AUVs (above 1000m depth)

Shape

• Torpedo
• Streamlined Rectangular Style
• Laminar Flow Body
• Multi-hull Vehicle

Technology

• Communication System
• Collision Avoidance System
• Navigation System
• Imaging System

Propulsion System

• Mechanical System
• Electric System
• Hybrid System

Payload Type

• Sensors
• Cameras
• Echo Sounder
• Synthetic Aperture Sonar
• Acoustic Doppler Current Profilers
• Others

Application

• Scientific Research
• Oil & Gas Industry
• Military & Defense
• Archaeology & Explorations
• Oceanography
• Environment Protection & Monitoring
• Seabed Mining
• Rescue Activities
• Others

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Related Reports:

• Underwater Robotics Market
• Global Sea-based Defense Equipment Market
• Global Armored Unmanned Underwater Vehicle Market
• Global Military Information Market

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SOURCE Growth Market Reports