The global autonomous underwater vehicles (AUVs) market size was valued at USD 1.16 billion in 2020. The market is forecast to rise from USD 1.33 billion in 2021 to USD 4.17 billion by 2028 at 17.80% CAGR during the 2021-2028 period. Fortune Business Insights™ has deep-dived into these insights in its latest research report, titled, “Autonomous Underwater Vehicles (AUVs) Market, 2021-2028.”
Drivers and Restraints
Bullish Demand from Defense to Encourage Product Portfolio Expansion
Industry participants expect bullish governments’ policies to foster the autonomous underwater vehicles (AUVs) market growth. The U.S. Navy has exhibited profound traction for AUVs for a host of applications, including intelligence, surveillance & reconnaissance (ISR), mine countermeasures (MCM), anti-submarine warfare (ASW), and inspection/identification (ID). To illustrate, in 2020, the U.S. Naval Sea Systems Command Washington inked around USD 11.1 million contract with Boeing to upgrade naval operations. Besides, the use of autonomous underwater vehicles in ocean exploration activities will augur well for the industry outlook. The IEA projects the demand for natural gas to surge at 1.5% by 2025. A notable rise in oil & gas production across Saudi Arabia, Iran, and Russia will encourage leading companies to invest in AUVs.
Meanwhile, uncertainty and reduced reliability in operational performance in communication systems may not bode well for the industry.
Major Players Profiled in the Market Report:
- Fugro N.V. (Netherlands)
- General Dynamics Corporation (U.S.)
- International Submarine Engineering Ltd. (Canada)
- Kongsberg Gruppen A.S.A. (Norway)
- L3Harris Technologies, Inc. (U.S.)
- Lockheed Martin Corporation (U.S.)
- Oceaneering International Inc. (U.S.)
- SAAB AB (Sweden)
- Teledyne Technologies Inc. (U.S.)
- Boeing (U.S.)
- Others
Browse Summary For More Details:
https://www.fortunebusinessinsights.com/autonomous-underwater-vehicle-market-105907
Regional Insights
Asia Pacific to Witness Investment Galore from Oil & Gas Industry
Stakeholders expect the Asia Pacific autonomous underwater vehicles (AUVs) market share to witness significant growth on the back of expanding commercial applications. Emerging economies, such as China and India, are likely to bank on the oil & gas sector. An uptick in exploration activities will expedite the technology adoption. Besides, the expansion of naval forces across Japan, China, Australia, and India will bode well for regional growth.
The North America industry forecast will be strong in the wake of strong governments’ policies on defense and R&D activities. Prominently, the U.S. has augmented the procurement of sophisticated AUVs for ISR operations. The North America market size was valued at around USD 0.39 billion in 2020 and will grow with surging investments in the defense budget.
Industry players are likely to increase their investments in Europe due to rising oil & gas exploration activities. Stakeholders predict the U.K., France, and Germany to provide lucrative investment opportunities. Besides, major OEMs, including Saab AB and Kongsberg Gruppen A.S.A. are slated to bolster their presence across untapped areas. Moreover, the defense sector will also exhibit strong demand for AUVs across the region.
The Global Autonomous Underwater Vehicles Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.DriversAUVs meeting the specifications for carrying out active and vigorous researchRising importance of more reliable security measures across the globeRestraintsStringent government regulationsThe comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved.
The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.The report classifies the market into different segments based on type, technology and application.
These segments are studied in detail incorporating the market estimates and forecasts at regional and country level.
The segment analysis is useful in understanding the growth areas and probable opportunities of the market.Leading Segment in this market:By Type - Large AUVsBy Application - Military & DefenseBy Geography - North AmericaBrowse the complete Global Autonomous Underwater Vehicles Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 @ https://www.decisiondatabases.com/ip/11405-autonomous-underwater-vehicles-market-reportThe report also covers the complete competitive landscape of the global Autonomous Underwater Vehicles market with company profiles of key players such as:Atlas Elekronik Group GmbHBluefin Robotics CorporationBoston Engineering CorporationECA GroupFugro N.V.International Submarine Engineering (ISE) Ltd.Oceanserver Technology, Inc.SAAB GroupTeledyne Gavia EHF.A detailed description of each has been included, with information in terms of H.Q, future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other latest industrial developments.SEGMENTATIONS IN THE REPORT:By Type:Shallow AUVs (Depth up to 100 meters)Medium AUVs (Depth up to 1,000 meters)Large AUVs (Depth Above 1,000 meters)By Technology:Collision AvoidanceSonarCommunicationNavigationCompass-Based Navigation SolutionInertial Navigation SystemPropulsionFin Control ActuatorPropulsion MotorPump MotorLinear Electromechanical ActuatorImagingBy Applications:Military & DefenseBorder Security and SurveillanceAntisubmarine Warfare (ASW)Monitoring Smuggling of Illegal GoodsEnvironmental AssessmentMine Countermeasures (MCMs)Oil & GasPipeline SurveyGeophysical SurveyDebris/Clearance SurveyBaseline Environmental AssessmentEnvironmental Protection and MonitoringHabitat ResearchWater SamplingFishery StudyEmergency ResponseOceanographyArcheology and ExplorationSearch and Salvage OperationsBy Geography:North America (NA)Europe (EU)Asia Pacific (APAC)Rest of the World (RoW)Download Free Sample Report of Global Autonomous Underwater Vehicles Market @ https://www.decisiondatabases.com/contact/download-sample-11405The Global Autonomous Underwater Vehicles Market has been exhibited in detail in the following chapters -Chapter 1 Autonomous Underwater Vehicles Market PrefaceChapter 2 Executive SummaryChapter 3 Autonomous Underwater Vehicles Industry AnalysisChapter 4 Autonomous Underwater Vehicles Market Value Chain AnalysisChapter 5 Autonomous Underwater Vehicles Market Analysis By TypeChapter 6 Autonomous Underwater Vehicles Market Analysis By TechnologyChapter 7 Autonomous Underwater Vehicles Market Analysis By ApplicationsChapter 8 Autonomous Underwater Vehicles Market Analysis By GeographyChapter 9 Competitive Landscape Of Autonomous Underwater Vehicles CompaniesChapter 10 Company Profiles Of Autonomous Underwater Vehicles IndustryPurchase the complete Global Autonomous Underwater Vehicles Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-11405Other Reports by DecisionDatabases.com:Global Unmanned Underwater Vehicles (UUV) Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Recreational Vehicles Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Armored Vehicles Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
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