WESTFORD, Mass., July 11, 2024 /PRNewswire/ -- According
to SkyQuest, the global Autonomous Underwater Vehicles (AUV)
Market size was valued at USD 1.57
billion in 2022 and is poised to grow from USD 1.85 billion in 2023 to USD 6.84 billion by 2031, growing at a CAGR of
17.80% in the forecast period (2024-2031).
Underwater vehicles capable of operating on their own using
advanced technologies and sensors are known as autonomous
underwater vehicles (AUVs). Complete autonomous operation and low
costs of purchase of AUVs are factors that drive the preference for
AUVs over ROVs (remote operated vehicles). The global autonomous
underwater vehicle market is segmented into technology, type,
shape, payload type, shape, payload type, application, and
region.
Download a detailed overview:
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Autonomous Underwater Vehicles (AUV) Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$1.85
Billion
|
Estimated Value by
2031
|
$6.84 Billion
|
Growth Rate
|
Poised to grow at a
CAGR of 17.80%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Technology, Type,
Shape, Payload Type and Application
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Report
Highlights
|
Digital interactions
across various industries through blockchain technology
|
Key Market
Opportunities
|
Growing Demand for AUVs
for Border and Coastal Security to Fuel Market Growth
|
Key Market
Drivers
|
Increasing
Offshore Production of Deepwater Oil and Gas to Stimulate Market
Growth
|
Segments covered in Autonomous Underwater
Vehicles (AUV) Market are as follows:
- Technology
- Imaging (Side-scan sonar imagery, Multibeam Echo Sounders,
Sub-bottom Profilers, LED lighting), Navigation (Compass-based
Navigation, Inertial Navigation), Collision Avoidance (Sonars),
Communication (Acoustic communication, Satellite communication),
Propulsion (Fin Control Actuators, Linear Electromechanical
Actuators, Propulsion Motors, Pump Motors, Battery Modules
{Deployment For Energy Storage, Applied Battery Technologies and
Alternatives}, Propulsion System Types {Electric system, Mechanical
System, Hybrid System})
- Type
- Small AUVs (In Ocean Observation, Route Mapping, And
Mine-hunting Applications), Medium AUVs (In Military Applications),
Large AUVs (In Deep-Water Mapping and Survey Applications)
- Shape
- TorPedo (In Marine Engineering), Laminar Flow Body (In Border
Security), Streamlined Rectangular Style (Collection of Underwater
Information), Multi-hull Vehicle (Surveying Seafloor and Their
Magnetic Properties)
- Payload Type
- Cameras (High-resolution Digital Still Cameras, Dual-eye
Cameras), Sensors (Conductivity, Temperature, And Depth {CTD}
Sensors, Biogeochemical Sensors {Turbulence Probes, And Oxygen,
Nitrate, Chlorophyll, And Photosynthetically Active Radiation [PAR]
Sensors}), Synthetic Aperture Sonars, Echo Sounders, Acoustic
Doppler Current Profilers, Others
- Application
- Military & Defense (Border- Security & Surveillance,
Anti-submarine Warfare, Anti-trafficking & Contraband
Monitoring, Environmental Assessment, Mine Countermeasure
Identification), Oil & Gas (Pipeline Survey, Geophysical
Survey, Debris/Clearance Survey, Baseline Environmental
Assessment), Environment Protection & Monitoring (Habitat
Research, Water Sampling, Fishery Study, Emergency Response),
Oceanography (Deployment Of AUVs To Receive Time And Spatial
Scale-related Data), Archeology & Exploration (Locate
Underwater Archeological Sites), Search & Salvage Operations
(Adoption Of AUVs to Detect Shipwrecks)
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Large Autonomous Underwater Vehicles to Take Precedence in
Revenue Generation
From resource exploration in the oil & gas industry to
deepwater exploration activities large AUVs are preferred due to
their endurance and better data collection capabilities. Rapidly
expanding oil & gas exploration activities to satisfy the
surging demand for energy is also estimated to benefit autonomous
underwater vehicle market growth via this sub-segment. Large
autonomous underwater vehicles can deliver higher payloads and
carry more sensors and instruments required for deepwater
exploration and other crucial marine explorations.
Meanwhile, the use of small AUVs is projected to increase at a
rapid pace over the coming years. Limited budgets of certain
organizations push them to opt for small AUVs and the growing use
of autonomous underwater vehicles for military applications is
helping this sub-segment boost market growth at a rapid pace. The
use of small AUVs for search and rescue operations will also create
new opportunities for autonomous underwater vehicle manufacturers
in the long run.
Military & Defense Applications to Lead Market
Charge
Growing demand for underwater surveillance and reconnaissance
around the world amidst mounting geopolitical tensions around the
world is allowing the military & defense sub-segment to augment
market growth. High investments in enhancements of marine security
and the need for combating underwater threats are also contributing
to the high market share of this sub-segment. A growing number of
governments increasing their military & defense spending
budgets are also helping boost sales of autonomous underwater
vehicles through this sub-segment.
Environment protection and monitoring applications emerge as the
most opportune segment for autonomous underwater vehicle providers.
Growing emphasis on sustainability and increasing water pollution
levels are guiding the demand for autonomous underwater vehicles
over the coming years. High investments of governments and
environmental organizations to preserve marine ecosystems are also
slated to benefit sales of autonomous underwater vehicles.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/autonomous-underwater-vehicle-market
Hybrid Propulsion Systems to Gain Traction in Autonomous
Underwater Vehicles (AUV) Market
High concerns about pollution spread by fossil fuels are
projected to bolster the demand for clean energy propulsion
systems. Growing emphasis on making a smooth transition towards
clean propulsion systems is projected to promote the adoption of
hybrid propulsion systems that are compatible with conventional
fuels but are much more efficient and less polluting than
traditional propulsion systems.
Autonomous underwater vehicle companies need to target the use
of electric propulsion systems to make their business future-proof
in the long run. Autonomous underwater vehicle providers can
generate a good amount of revenue by investing in military and
defense applications as the focus on marine defense increases
around the world. Small AUVs is projected to emerge as the most
opportune sub-segment for incoming as well as established
autonomous underwater vehicle manufacturers in the long run.
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Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
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Skyquest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
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