[188 Pages Report] According to
MarketsandMarkets, the autonomous underwater vehicle (AUV) market (without payload) 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% from 2020 to 2025. AUVs are widely used in the oil & gas
industry for oil & gas reserve exploration and pipeline monitoring
applications. Increase in the capital expenditure in the offshore industry is a
key driver fueling the growth of the AUV market.
The large AUVs segment is expected to grow at
the highest CAGR from 2020 to 2025.
The large AUVs segment of the AUV market is
projected to grow at the highest CAGR during the forecast period. Increasing
demand for large AUVs for use in military & defense and oil & gas
exploration applications is fueling the growth of this segment of the market.
For instance, in March 2020, MSUBS (UK) received a contract from the British
Royal Navy to develop the world’s largest extra-large unmanned underwater
vehicle (XLUUV), which is expected to be 100-feet in length with the capability
to carry weapons. The capability of large AUVs to operate at great depths (more
than 1,000 m) also make them suitable for oceanography, habitat research, and
search & salvage operations.
The imaging technology segment of the AUV
market is projected to grow at the highest CAGR during the forecast period.
The imaging segment of the AUV market is
projected to grow at the highest CAGR during the forecast period. The growth of
this segment can be attributed to the increased use of AUVs in military &
defense and offshore industries. Imaging systems used in AUVs are capable of
capturing pictures of the seabed and surrounding areas. The use of imaging systems
in AUVs makes them suitable for habitat research, fishery study, oceanography,
and archeology & exploration applications. The sub-bottom profilers used
with AUVs penetrate sediments on the seafloor, allowing the detection of layers
within sediments. This type of imaging is extensively used in the oil & gas
industry for the exploration of oil & gas reserves.
The military & defense segment to hold the
largest share of the AUV market from 2020 to 2025.
In 2020, the military and defense segment is
expected to hold the largest share of the payload-mounted AUV market. Countries
such as the US, Canada, France, and China are increasingly adopting AUVs for
military & defense applications; this is driving the growth of the AUV
market. For instance, Cellula Robotics (Canada) received a contract from the
Canadian Defense Science and Technology Organization for the development of the
Solus-LR long-range unmanned underwater vehicle (UUV). The design phase of this
vehicle started in early 2019 that was followed by its development and factory
testing. The archeology & exploration segment of the market is projected to
grow at the highest CAGR during the forecast period. AUVs can be used as an
important tool for underwater exploration activities to extract minerals such
as cobalt, zinc, and magnesium; these minerals are used in the fabrication of
smartphones, laptops, and hybrid cars, among others.
The AUV market in APAC expected to grow at the
highest CAGR during the forecast period.
The increasing adoption of advanced underwater
systems in emerging economies in APAC, including China and India, is resulting
in significant growth opportunities for the manufacturers of AUVs in this
region. For instance, in February 2020, Kongsberg Maritime (Norway) received a
contract for providing a Hugin AUV system to the Indian National Institute of
Ocean Technology (NIOT). The Hugin AUV system ordered by NIOT can be operated
at depths of up to 6,000 meters and is expected to be equipped with a KONGSBERG
HISAS 1032 synthetic aperture sonar and EM2040 multibeam echo sounder, designed
for hydrographic and seabed classification applications. India has adopted
Adamya AUV with a depth rating of 1,500 m. It can be launched from submarine
torpedo tubes and surface ships. Adamya AUV can be used for hydrographic
surveys, underwater mine detection and countermeasure operations, and intelligence,
surveillance, and reconnaissance missions.
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