The
report "Autonomous
Underwater Vehicle (AUV) Market by Type (Shallow AUVs, Medium AUVs,
Large AUVs), Application (Military & Defense, Oil & Gas), Shape,
Technology (Navigation, Imaging), Payload Type (Cameras, Sensors), Region –
Global Forecast to 2025", is projected to grow from USD 638 million in
2020 to USD 1,638 million by 2025; it is expected to grow at a CAGR of 20.8%
during the forecast period. AUVs are increasingly being adopted in various
industries due to advantages such as reduction in the cost of operation, access
to underwater depths, which are not safe for humans, and better endurance
offered by them than human divers. Moreover, they can work without any human
intervention in hostile conditions such as storms and natural calamities. The
increasing capital expenditure in the offshore industry is expected to be the
key driver for the growth of the AUV market. AUVs are widely used in the oil
& gas industry for various applications such as pipeline inspections,
platform inspections, and bathymetric surveys, as well as in search and rescue
operations. AUVs are cost-effective for deepwater drilling applications as they
eliminate the requirement of surface vessels and can operate autonomously.
The
sensors segment to hold the largest share of the AUV payload market from 2020
to 2025.
The
sensors segment is expected to account for the largest share of the market
during the forecast period. The growth of this segment can be attributed to the
increasing adoption of sensors in scanning, detecting, mapping, and remote
sensing applications. For instance, SeaOWL UV-ATM in-situ oil-in-water sensor
manufactured by Sea-Bird Scientific (US) is used with Slocum Glider of Teledyne
Webb Research (US) for oil detection applications.
The
navigation segment is expected to hold the largest share of the AUV market
during the forecast period.
The
navigational information such as the location of AUVs is essential for their
safe operations and recovery; navigation technology is crucial for successful
mission completion. Inertial navigation systems are integrated with Doppler
velocity logs (DVLs), GPS receivers, pressure/depth sensors, and sound speed
sensors to achieve a high degree of navigation accuracy, thereby resulting in
the increased adoption of inertial navigation systems for use in large AUVs.
North
America to hold the largest share of the AUV market in 2020.
The
increasing adoption of AUVs in the military & defense applications in the
US is driving the growth of the AUV market in North America. For instance, in
August 2019, Teledyne Instruments (US) received an
indefinite-delivery/indefinite-quantity (IDIQ) contract worth USD 22 million
from the US Naval Undersea Warfare Center to supply AUVs and related monitoring
and communication acoustic systems. Moreover, there is significant adoption of
AUVs in the oil & gas sector of the US. According to the US Energy
Information Administration, in 2018, the US surpassed Saudi Arabia to become
the worlds largest producer of petroleum.
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Major
companies in the AUV market are Kongsberg Maritime (Norway), Teledyne Marine
(US), Bluefin Robotics Corporation (US), ECA GROUP (France), Saab AB (Sweden),
Lockheed Martin Corporation (US), Fugro (Netherlands), ATLAS ELEKTRONIK GmbH
(Germany), Boston Engineering Corporation (US), International Submarine
Engineering (Canada), Graal Tech (Italy), BAE Systems (UK), and Boeing (US).
Apart from these, Rovco (UK) and Hydromea SA (Switzerland) are among a few
emerging companies in the AUV market.
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