The global autonomous underwater vehicle market size is expected to reach USD 2.10 Billion by 2027, according to the study.
Increasing numbers of research operations in the oil & gas industry, combined with growing public expenditure on marine water surveillance to preserve the equilibrium of aquatic life, are anticipated to drive the global AUV market over the forecast period.
The creation of an intricate seabed map ensures that petroleum and gas enterprises build pipelines and facilities is assisted by the use of autonomous underwater vehicles. Furthermore, mapping the ocean floors by autonomous underwater vehicles makes installation of submerged floors more cost-effective without harm to the underwater environment.
In addition, fast development in fish farming is also paving the way for the AUV market to grow as these vehicles can provide an inexpensive and safe platform for aqua farmers to monitor water quality parameters such as temperature, turbidity, and conductivity and observe fish conduct during aquaculture feeding procedures.
The growth of the AUV industry is hampered by the high capital investment and the difficulties in the establishment of connections at deep water levels. This hinders the vehicles in transmitting or sending data and other relevant information above sea level. Although sales volumes are rising, the use of vehicles that hinder the AUV sector is regulated by several government organizations.
Furthermore, in autonomous vehicles, the automotive manufacturers and their technology partners are engaged in the development of AI-driven systems to enable autonomous underwater vehicle. These systems integrate a broad range of AI-enabled technologies, including NLP and neural networks. These technologies offer several features that increase the understanding of underwater vehicles, enabling the safe drive with or without driver on board.
Autonomous underwater vehicle manufacturers are found to adopt primarily three kinds of approaches, namely acquisitions, collaborations and product launches, to create distinctive brand value and enrich their global market shares. Manufacturers of autonomous underwater vehicles are installing state-of-the-art sensor systems like Sonar.
Atlas Elektronik GmbH, Bluefin Robotics, Saab Group, Lockheed Martin Corporation, Boston Engineering Corporation, Oceanserver Technology, International Submarine Engineering (ISE) Ltd., Kongsberg Groups, Teledyne Technologies, Eca Group, Graal, Inc., and Fugro are major players working in the AUV market.
Key Topics Covered:
1. Overview and Scope
2. Executive Summary
3. Autonomous Underwater Vehicle Market Insights
4. Autonomous Underwater Vehicle Market Size and Forecast by Technology 4.1. Global Autonomous Underwater Vehicle market share by technology, 2019 & 2027 4.2. Collision Avoidance 4.3. Navigation 4.4. Communication 4.5. Imagery 4.6. Propulsion
5. Autonomous Underwater Vehicle Market Size and Forecast by AUV Type 5.1. Global Autonomous Underwater Vehicle market share by type, 2019 & 2027 5.2. Shallow AUV 5.3. Medium AUV 5.4. Large AUV
6. Autonomous Underwater Vehicle Market Size and Forecast by Payload 6.1. Global Autonomous Underwater Vehicle market share by payload, 2019 & 2027 6.2. Sensors 6.3. Cameras 6.4. Synthetic Aperture Sonars 6.5. Echo Sounders 6.6. Acoustic Doppler Current Profilers 6.7. Other Payload
7. Autonomous Underwater Vehicle Market Size and Forecast by Application 7.1. Global Autonomous Underwater Vehicle market share by application, 2019 & 2027 7.2. Army & defense 7.3. Petroleum & gas 7.4. Environmental security & tracking 7.5. Oceanography 7.6. Archeology & exploration 7.7. Search & rescue activities
8. Autonomous Underwater Vehicle Market Size and Forecast by Region 8.1. Global autonomous underwater vehicle market share by region, 2019 & 2027