PUNE, India, June 22, 2023 /PRNewswire/ — According to a recent market study published by Growth Market Reports, titled, “Global Autonomous Underwater Vehicle Market Segments – by Type (Small AUVs (upto 100m depth), Medium AUVs (100m-1000m depth), and Large AUVs (above 1000m depth)), Shape (Torpedo, Streamlined Rectangular Style, Laminar Flow Body, and Multi-hull Vehicle), Technology (Communication System, Collision Avoidance System, Navigation System, and Imaging System), Propulsion System (Mechanical System, Electric System, and Hybrid System), Payload Type (Sensors, Cameras, Echo Sounders, Synthetic Aperture Sonar, Acoustic Doppler Current Profilers, and Others), Application (Scientific Research, Oil & Gas Industry, Military & Defense, Archaeology & explorations, Oceanography, Environment Protection & Monitoring, Seabed Mining, Rescue Activities, and Others), and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031″, the market size was USD 2.01 Bn in 2022 and is expected to surpass USD 5.5 Bn expanding at a CAGR of 14.4% by the end of 2031. Increasing usage of autonomous underwater vehicles for oceanographic, commercial, and military missions is anticipated to fuel the market in the coming years.
Key Market Players Profiled in the Report
Lockheed Martin Corporation
General Dynamics Corporation
Boeing
Kongsberg
BAE Systems
ATLAS ELEKTRONIK GmbH
International Submarine Engineering Limited
Eelume AS
ECA GROUP
Graal Tech Srl
ecoSUB Robotics Limited
HYDROMEA
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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics. It provides an in-depth analysis of the market segments, which include type, shape, technology, application, and competitor analysis.
This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.
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Regional Highlights:
On the basis of region, the global autonomous underwater vehicle market is classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is projected to dominate the global market, owing to the rising procurement of advanced autonomous underwater vehicles by the US Navy for intelligence, surveillance, and reconnaissance operations.
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Key Takeaways from the Study:
Autonomous underwater vehicles (AUVs) are self-propelled vehicles that are equipped with sensors, actuators, and onboard intelligence.
These vehicles are widely used to complete survey and sampling tasks with little or no human supervision.
Rising adoption of AUVs in defense for coastal security, surveillance, and anti-submarine warfare is expected to drive the market during the forecast period.
Growing exploration activities in the ocean for oil & gas, due to the increasing demand for energy is likely to boost the market.
Exploring rare earth minerals using AUVs is likely to create immense growth opportunities in the market.
The medium AUVs segment is projected to expand at the fastest CAGR during the forecast period, due to the rising demand from oil & gas industries for exploration of offshore oil.
The torpedo segment is anticipated to hold a major share of the market, as it is useful for ground-level mapping and imaging.
The navigation system segment is expected to expand at a robust growth rate during the forecast period, as this technology offers accuracy in underwater data collection.
The military & defense segment is projected to dominate the market in the coming years, owing to the rising demand for underwater surveying for border and coastal security.
Read 330 Pages Research Report with Detailed TOC on “Global Autonomous Underwater Vehicle Market Segments – by Type (Small AUVs (upto 100m depth), Medium AUVs (100m-1000m depth), and Large AUVs (above 1000m depth)), Shape (Torpedo, Streamlined Rectangular Style, Laminar Flow Body, and Multi-hull Vehicle), Technology (Communication System, Collision Avoidance System, Navigation System, and Imaging System), Propulsion System (Mechanical System, Electric System, and Hybrid System), Payload Type (Sensors, Cameras, Echo Sounders, Synthetic Aperture Sonar, Acoustic Doppler Current Profilers, and Others), Application (Scientific Research, Oil & Gas Industry, Military & Defense, Archaeology & explorations, Oceanography, Environment Protection & Monitoring, Seabed Mining, Rescue Activities, and Others), and Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2022 – 2030”
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Key Segments Covered
Type
Small AUVs (upto 100m depth)
Medium AUVs (100m-1000m depth)
Large AUVs (above 1000m depth)
Shape
Torpedo
Streamlined Rectangular Style
Laminar Flow Body
Multi-hull Vehicle
Technology
Communication System
Collision Avoidance System
Navigation System
Imaging System
Propulsion System
Mechanical System
Electric System
Hybrid System
Payload Type
Sensors
Cameras
Echo Sounders
Synthetic Aperture Sonar
Acoustic Doppler Current Profilers
Others
Application
Scientific Research
Oil & Gas Industry
Military & Defense
Archaeology & explorations
Oceanography
Environment Protection & Monitoring
Seabed Mining
Rescue Activities
Others
Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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Underwater Robotics Market Segments – by Applications (Commercial Exploration, Scientific Research, Defense & Security, and Others), Types (Autonomous Underwater Vehicles and Remotely Operated Vehicles), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
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SOURCE Growth Market Reports