Autonomous Underwater Vehicle (AUV) Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

The global autonomous underwater vehicle (AUV) market is estimated to grow at a compounded annual growth rate (CAGR) of 25.0% over the forecast period of 2022-2030.

Autonomous underwater vehicles (AUVs) are highly stable and agile self-propelled, unmanned, underwater vehicles that are often employed for applications such as remote navigation, obtaining high-resolution maps of the deep seafloor or characterize the properties of the water being tested. These AUVs can be equipped with different kinds of payloads and, or technologies such as cameras, sensors, synthetic aperture sonars, bottom profilers, multibeam echo sounders, connectivity, avoidance of collisions, navigation, imaging, and propulsion, and more.

They are widely used in applications across various end-user industries including: military and defense, oil and gas, ecological security and observing, scientific research, archaeological exploration, environmental protection, oceanography etc.

GROWTH DRIVERS:

Factors such as the rapidly expanding maritime & aquaculture & fish farming sectors; the growing capital expenditure of companies in offshore oil & gas industry; the escalating defense spending in several countries across the globe; the burgeoning trend of modernization of underwater inspection; the increasing demand for maritime security globally, and the escalating number of marine exploration activities to extract minerals that are used in manufacturing of consumer electronics and automobiles are primarily driving the growth of the global autonomous underwater vehicle market.

Additionally, the application of AUVs across various end-user verticals is expanding at a tremendous pace. They are used for commercial purposes like offshore field explorations, deepwater drilling, detecting ship and plane wrecks, military purposes like reconnaissance or anti-submarine warfare, and scientific purposes like ocean mapping or measuring the physical properties of the water column. Also, their demand for underwater monitoring and surveillance missions in the military and defense sector is soaring due to the growing maritime security concerns. This is expected to boost the growth of the global autonomous underwater vehicle market in the upcoming years.

Moreover, the autonomous underwater vehicle market is witnessing robust integration and development of advanced technologies in UAVs. Advancement and innovation in battery life, independence, control capacity, installation of cutting-edge sensor technologies such as Sonar are among a few of the developments that have either taken place in the last few years or are still in the development stage. This increasing number of developments and advancements in AUVs is slated to augment the growth of the global autonomous underwater vehicle market during the forecast period.

Furthermore, other factors such as: the emergence of the Internet of Underwater Things (IoUT) for enhancing intra-communication efficiency between remotely deployed AUVs; the growing investment for the development of military sector and the escalating government spending for sea water monitoring to maintain aquatic life balance are further expected to create ample growth opportunities for the global autonomous underwater vehicle market during the forecast period.

However, factors such as the high operational costs associated with AUVs; the dearth of quality assurance in comparison to human exploration; the concerns related to security and the use of electromagnetic radiation waves to communicate from object to ship or vessels are estimated to hinder the growth the growth of the global autonomous underwater vehicle market during the forecast period.

AUTONOMOUS UNDERWATER VEHICLE (AUV) MARKET SEGMENTATION:

By Type:

·         Shallow AUV (depth up to 100 m)

·         Medium AUVs (depth up to 1000 m)

·         Large AUVs (depth more than 1000 m)

By Technology:

·         Communication Systems

o    Acoustic Communication Systems

o    Satellite Communication Systems

·         Navigation Systems

o    Inertial Navigation Systems

o    Acoustic Navigation Systems

o    Geophysical Navigation Systems

o    Dead Reckoning Navigation Systems

o    Others

·         Propulsion Systems

o    Fin Control Actuators

o    Propulsion Motors

o    Pump Motors

o    Linear Electromechanical Actuators

o    Battery Modules

·         Imaging Systems

o    Side-Scan Sonar (SSS) Imagers

o    Multibeam Echo Sounders (MBES)

o    Sub-Bottom Profilers (SBPS)

o    LED Lighting

·         Collision Avoidance Systems

By Payload Type:

·         Cameras

o    High Resolution Digital Still Cameras

o    Dual-Eye Cameras

·         Sensors

o    CTD Sensors

o    Biogeochemical Sensors

·         Synthetic Aperture Sonars

·         Echo Sounders

·         Acoustic Doppler Current Profilers

·         Others

By Shape:

·         Torpedo

·         Laminar Flow Body

·         Streamlined Rectangular Style

·         Multi-Hull Vehicle

By Application:

·         Military & Defence

·         Oil & Gas

·         Environmental Protection and Monitoring

·         Oceanography

·         Archaeology and Exploration

·         Search and Salvage Operations

·         Others

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

Based on type, the large AUVs (depth more than 1000 m) segment is expected to attain the highest CAGR in the market over the forecast period. This can be attributed to the proliferating demand for large AUVs across various end-user industries and the expanding navy budgets for safety and security.

Based on shape, the torpedo segment is projected to achieve the highest growth rate in the market over the forecast period. The high adoption of this type of AUVs due to their hydrodynamic shape, which results in various advantages such as high speed, less drag, and enhanced efficiency, is the major factor attributable to the segments growth.

Based on payload type, the sensors segment captured the largest share of the global autonomous underwater vehicle (AUV) market in 2021.The segment is poised to further retain its dominance over the forecast period on account of their wide adoption for mapping, remote sensing, scanning, and detecting applications.

Based on technology, the communication systems segment accounted for the largest share of the global autonomous underwater vehicle (AUV) market in 2021. The segment is further projected to retain its hold over the market in the forecast period. However, the imaging systems segment is predicted to register the highest growth rate in the market over the forecast period.

Based on application, the military & defence segment captured the largest share of the global autonomous underwater vehicle (AUV) market in 2021. The segment is anticipated to continue with its lead in the market during the forecast period. However, the oceanography segment is estimated to grow at the highest CAGR in the market during the forecast period.

REGIONAL OUTLOOK:

The North American region led the global autonomous underwater vehicle (AUV) market by acquiring a market share of 36.0% in 2021 and is expected to further continue doing the same over the forecast period of 2022-2030. The growth of the market in the region can be attributed to factors such as the growing number of development activities alongside strict government regulations pertaining to maritime security in the region; the presence of well-established market players, and the increasing advancements in AUVs in the region. The U.S. and Canada are the major contributors to the growth of the market in the region.

The Asia Pacific region is projected to emerge as the fastest-growing regional market for autonomous underwater vehicles (AUV) during the forecast period of 2022-2030. Factors such as the proliferating adoption of AUVs in various application areas; the rising military spending; the increasing number of market players and the enhancing need for energy in developing economies are expected to aid in the growth of the Asia Pacific during the forecast period. India, China and Japan are the major contributors to the growth of the market in the region.

KEY COMPANIES IN AUTONOMOUS UNDERWATER VEHICLE (AUV) MARKET:

·         Bluefin Robotics

·         Saab AB

·         Bae Systems

·         Boeing

·         Teledyne Technologies

·         General Dynamics Corp.

·         Kongsberg Maritime AS

·         ECA Robotics SAS

·         Fugro N.V.

·         L3 OceanServer

·         Hydromea SA

·         International Submarine Engineering Ltd.

·         Atlas Elektronik Gmbh

·         Boston Engineering Corporation

·         Graal Tech

·         Other Players