Global Autonomous Underwater Vehicle (AUV) Market. The Autonomous Underwater Vehicle (AUV) Market Is Estimated To Register A CAGR Of Approximately 21.80% During The Forecast Period Of 2018 To 2023.
Autonomous Underwater Vehicle (AUV) are programmable robotic vehicles that assist in surveillance and target acquisition. Factors such as increasing demand for AUVs by various sectors such as military & defense, oil & gas, and environmental protection are driving the global AUV market. Increasing adoption of AUVs by countries such as Japan for booting oceanic research is propelling the market growth. Furthermore, various development activities undertaken by countries such as China and India in the filed of AUV are bolstering the market growth.
The global Autonomous Underwater Vehicle (AUV) market has been segmented based on type, technology, payload, application and region. On the basis of type, the AUV market is divided into shallow, medium and large. In 2017, the large segment dominated the global market. Increasing deep sea operations such as mine hunting are driving the demand for large AUVs. On the basis of technology, the market has been segmented into communication, collision avoidance, navigation, imaging and propulsion. The collision avoidance segment dominated the global market in 2017, owing to enhanced situational awareness capability offered by AUVs. However, the navigation segment is anticipated to grow at the highest CAGR over the forecast period owing to factors such as growing demand for enhanced surveillance systems. Additionally, AUVs offer enhanced location services to users by providing accurate location of the target by using GPS. On the basis of payload, the market is segmented into sensors, cameras, synthetic aperture sonars, echo sounders, Acoustic Doppler Current Profilers (ADCPS), and others. The sensors segment is anticipated to grow at the highest CAGR over the forecast period as sensors enable in tracking, navigating and detecting submarines by enabling connections to various multimedia devices such as cameras that provide clear images of targets. On the basis of application, the market is segmented into military & defense, oil & gas, oceanography, environmental protection, archaeology, and search & salvage operations. The archaeology segment is anticipated to grow at the highest CAGR over the forecast period. AUVs support cameras and navigation systems that enable archaeologists to receive the exact location and images of the objects.
On the basis of region, the global Autonomous Underwater Vehicle (AUV) market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. In 2017, North America dominated the global market. Presence of prominent players such as Lockheed Martin Corporation, and General Dynamics Corporation among others is driving the market growth. However, Asia Pacific is expected to grow at the fastest CAGR over the forecast period owing to increasing adoption of AUVs by governments of developing nations such as India. Additionally, growing adoption of AUVs by countries such as Japan for promoting oceanic research, military investigations and international disaster relief efforts are driving the market growth over the forecast period.
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The key players in the global Autonomous Underwater Vehicle (AUV) market are Lockheed Martin Corporation (US), General Dynamics Corporation (US), Kongsberg Group (Norway), Teledyne Technologies Incorporated (US), Saab AB (Sweden), Groupe Gorgé (Paris), Fugro (The Netherlands), Boston Engineering Corporation (US), International Submarine Engineering Limited (Canada) and GRAAL, inc.(Italy).