The autonomous underwater vehicle (AUV) market is valued at USD 2.0 billion in 2024 and is projected to reach USD 4.3 billion by 2029; it is expected to grow at a CAGR of 15.9% from 2024 to 2029. Rising use of autonomous underwater vehicles to protect subsea cables and seabed environment, integration of NiMH batteries into high-speed autonomous underwater vehicles, and growing demand for AUVs in offshore energy exploration provide lucrative opportunities to the autonomous underwater vehicle (AUV) market.
Sensors segment of the AUV payload market is expected to grow with the highest growth rate during the forecast period.
The sensors segment of the AUV payload market is projected to grow at a higher CAGR during the forecast period owing to the increasing use of sensors for scanning, detection, mapping, and remote sensing applications in mine detection, pipeline layout planning, and oil & gas exploration. Autonomous underwater vehicles use sensors to map their environments and detect objects of interest for anti-submarine warfare (ASW) missions and pipeline inspections. These sensors are also used to identify the location of ferrous objects in the seabed, examine undersea cables, and detect and classify a wide variety of chemicals in seawater.Military & defense application segment in Mexico is expected to register highest growth rate during the forecast period.
The Mexican autonomous underwater vehicle market for military & defense applications is expected to grow at the highest CAGR during the forecast period. The rising deployment of AUVs in the Gulf of Mexico and the North Pacific Ocean to secure the borders is one factor propelling the country's market growth. The autonomous underwater vehicles are being increasingly used to monitor coastal areas, detect suspicious activities, and gather intelligence. They are also employed for detailed seabed mapping in naval operations.China is expected to hold the largest market share during the forecast period.
China held the largest market share of the autonomous underwater vehicle (AUV) market in Asia Pacific, in 2023, due to the increasing adoption of AUVs by the Chinese navy. China focuses on the development of cost-effective and innovative technological solutions for AUVs. Since mid-90s, China has been involved in a military modernization program with an aim to win regional conflicts as well as its expanding global interests. Following is the breakup of the profiles of the primary participants for the report.- By Company Type: Tier 1 - 40 %, Tier 2 - 40%, and Tier 3 - 20%
- By Designation: C-Level Executives - 40%, Directors - 40%, and Others - 20%
- By Region: North America - 40%, Europe - 20%, Asia Pacific - 30%, and RoW - 10%
Research Coverage
The report defines, describes, and forecasts the autonomous underwater vehicle (AUV) market based on Technology, Type, Shape, Speed, Payload Type, Application, and Region. It provides detailed information regarding drivers, restraints, opportunities, and challenges influencing the growth of the autonomous underwater vehicle (AUV) market. It also analyses competitive developments such as product launches, acquisitions, expansions, contracts, partnerships, and actions conducted by the key players to grow in the market.Reasons to Buy This Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall autonomous underwater vehicle (AUV) market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.The report provides insights on the following pointers:
- Analysis of key drivers (Increasing investments in oil and gas drilling activities, rising deployment of advanced technologies to ensure border and maritime security, shifting preference toward renewable energy sources, and technological advancements in AUVs), restraints (High development, operational, and maintenance costs, and limited endurance and range hindering broader deployment of AUVs), opportunities (Integration of NiMH batteries into high-speed AUVs, rising use of AUVs to protect subsea cables and seabed environment, and growing demand for AUVs in offshore energy exploration), and challenges (Low speed, signal processing, and environmental issues witnessed by AUVs during underwater surveys, risk of data loss and increase in research timelines due to challenging marine environment, and robust legal and ethical frameworks for AUV adoption) influencing the growth of the autonomous underwater vehicle (AUV) market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the autonomous underwater vehicle (AUV) market
- Market Development: Comprehensive information about lucrative markets - the report analyses the autonomous underwater vehicle (AUV) market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the autonomous underwater vehicle (AUV) market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like KONGSBERG (Norway), Teledyne Technologies Incorporated (US), General Dynamics Corporation (US), Saab (Sweden), Exail Technologies (France), Lockheed Martin Corporation (US), Fugro (Netherlands), ATLAS ELEKTRONIK (Germany), Boston Engineering Corporation (US), L3Harris Technologies, Inc. (US), Graal Tech S.r.l. (Italy), International Submarine Engineering Limited (Canada), Boeing (US), Riptide Autonomous Solutions (US), MSubs (China), BaltRobotics (Poland), and Hydromea (Switzerland), among others in the autonomous underwater vehicle (AUV) market strategies. The report also helps stakeholders understand the pulse of the autonomous underwater vehicle (AUV) market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Table of Contents
1 Introduction
2 Research Methodology
4 Premium Insights
5 Market Overview
6 Autonomous Underwater Vehicle Market, by Technology
7 Autonomous Underwater Vehicle Market, by Type
8 Autonomous Underwater Vehicle Market, by Speed
9 Autonomous Underwater Vehicle Market, by Shape
10 Autonomous Underwater Vehicle Market, by Payload Type
11 Autonomous Underwater Vehicle Market, by Application
12 Regional Analysis
13 Competitive Landscape
14 Company Profiles
15 Appendix
List of Tables
List of Figures
Companies Mentioned
- Kongsberg
- Teledyne Technologies Incorporated
- Fugro
- General Dynamics Corporation
- Saab
- Exail Technologies
- Lockheed Martin Corporation
- Atlas Elektronik
- L3Harris Technologies, Inc.
- Boston Engineering
- International Submarine Engineering Limited
- Msubs
- Falmouth Scientific, Inc.
- Terradepth
- Ecosub Robotics Limited
- Eelume As
- Hydromea
- Boeing
- Graal Tech S.R.L.
- Riptide Autonomous Solutions LLC
- Baltrobotics
- Sonardyne
- Oceanscan-Mst
- Xylem
- Rtsys
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 275 |
Published | August 2024 |
Forecast Period | 2024 - 2029 |
Estimated Market Value ( USD | $ 2 Billion |
Forecasted Market Value ( USD | $ 4.3 Billion |
Compound Annual Growth Rate | 15.9% |
Regions Covered | Global |
No. of Companies Mentioned | 25 |