PUNE, India, July 3, 2023 /PRNewswire/ — According to a recent market study by Growth Market Reports, titled, “Global Autonomous Underwater Vehicle Market Segments – by Type, Shape, Technology, Propulsion System, Payload Type, Application, and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031″, the market size was USD 1.78 Bn in 2022 and is expected to surpass USD 5.95 Bn at a CAGR of 14.3% by the end of 2031.
Key Players Covered
Lockheed Martin Corporation
General Dynamics Corporation
Boeing
Kongsberg
BAE Systems
ATLAS ELEKTRONIK GmbH
International Submarine Engineering Limited
Eelume AS
ECA GROUP
Graal Tech Srl
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The report covers data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics. It provides an in-depth analysis of market segments, industry players, and crucial strategies that helps market players to boost their market share.
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Key Takeaways:
AUVs are self-propelled or unmanned vehicles that are equipped with sensors and actuators.
Increasing adoption in defense and growing exploration of rare earth minerals are expected to boost the demand for AUVs.
The medium AUVs (100m-1000m depth) segment is projected to expand at the fastest CAGR, owing to rising adoption in the oil & gas and defense sector.
The military & defense segment is anticipated to hold a major market share due to increasing demand for intelligence, surveillance, and reconnaissance activities.
North America is expected to dominate the global market, owing to the increasing defense budgets and rising procurement of advanced AUVs by the Navy for ISR operations.
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Segment 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 Sounder
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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SOURCE Growth Market Reports