The global autonomous underwater vehicle market was valued at USD 465.9 million in 2021 and is expected to grow at a CAGR of 34.7% during the forecast period. The global Autonomous Underwater Vehicles (AUVs) market is projected to be driven by the increase in AUVs operations owing to the wide range of applications in commercial, scientific, and military areas such as oceanography and anti-submarine warfare. The demand for the industry has been substantially rising over the years as these AUVs are equipped with sensors, actuators, and onboard intelligence systems for ocean exploration and to effectively complete survey and sampling collection tasks without any human instruction or supervision.
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AUVs are a valuable tool for oceanographic research as they are cost-efficient in the scientific sampling of the ocean. Such AUVs also aid in the tracking of human and drug trafficking along with the smuggling of goods. AUVs are used to repair and scrutinize submerged infrastructure in the gas & petroleum industry. They are also employed for the port and harbor security projects for environmental assessment and supervision, detection, and disposal of explosives.
COVID-19 pandemic has halted the growth of the autonomous underwater vehicle market. Since the oil & gas industry is one of the largest consumers of AUVs, the industry witnessed the decline in demand for oil & gas owing to the worldwide lockdowns and restrictions that led to the decreased production of the AUVs. In addition, the lockdowns across the globe restricted the movement of laborers from one place to another who is responsible for operating the AUVs at sites, which in turn hampered the growth of the autonomous underwater vehicle market.
Economical autonomous underwater vehicle is anticipated to propel the demand for the industry. These AUVs are extensively used for exploring underwater lakes and oceans as they are inexpensive and relatively easy to build, maintain, and operate. The researchers can make use of the same basic design and adjust the components to build a new AUV as they are highly upgradable, scalable, and reconfigurable.
Autonomous underwater vehicles are extensively used for oceanographic studies that aid in exploring, collecting data, and making 3D reconstructions or maps. The AUV consists of a computer onboard which function with a system called Intelligent Distributed Control (IDC) to manage and collect oceanographic research data. The technologies used to accumulate the data under oceans are likely to propel the growth of the industry.
The market is primarily segmented on the basis of technology, type, shape, payload, application, and region.
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Based on technology, the AUV market is segmented into collision avoidance, navigation, communication, imagery, and propulsion. Navigation technology is witnessing rapid growth in the global AUV industry. This technology is basically used over the course of the longer missions to ascertain the quality of the data collected underwater. The submarine navigation technology exhibits accurate velocity, position, and attitude information for autonomous underwater vehicles. These factors are expected to drive industry growth.
On the basis of type, the autonomous underwater vehicle market is categorized into shallow, medium, and large units. The large AUVs account for the largest share owing to their rising demand in the military & defense sector and oil & petroleum industry. These large AUVs are equipped with a wide range of sensors and allow the easy positioning of the navigation systems.
On the basis of the application, the market is segmented into army & defense, environmental security & tracking, petroleum & gas, oceanography, search & rescue activities, and archeology & exploration. The archeological & exploration sector contributes a major share in the industry as autonomous underwater vehicles are developing into a ubiquitous tool to discover and inspect submerged archaeological sites. It facilitates the exploration and extraction of minerals such as zinc, copper, nickel, gold, silver, magnesium, and cobalt, which are widely used in the production of hybrid vehicles, laptops, and smartphones.
North America is expected to hold the biggest share in the global autonomous underwater vehicles market over the forecast period. The growing need for autonomous underwater vehicles in the emerging markets of the region is expected to boost the demand for AUVs. These vehicles are utilized in the U.S. for several marine projects. It offers marine support roles such as mine countermeasures, inspection and identification; Intelligence, Surveillance and Reconnaissance (ISR), oceanography, and payload delivery.
Asia Pacific is likely to witness a significant share over the forecast period. The growth of the market in the region is mainly driven by the demands of AUVs from countries like India and China. Autonomous underwater vehicles are largely employed in the marine sector in India to combat maritime security threats.
Some of the major players operating in the autonomous underwater vehicles market include Atlas Elektronik GmbH, Bluefin Robotics, Boing, Boston Engineering Corporation, ECA Group, ecoSUB Robotics, EELUME AS, Falmouth Scientific, Fugro, Graal Tech, Hydromea, International Submarine Engineering (ISE) Ltd., Kongsberg Groups, L3Harris Technologies, Lockheed Martin Corporation, Nido Robotics, Oceanserver Technology, Riptide Autonomous Solutions, Saab Group, Lockheed Martin Corporation, Teledyne Technologies, Terradepth, and Tianjin Sublue. These market players are expanding their presence in the global market through several acquisitions, launches, mergers, and collaborations.
Market size value in 2021
USD 465.9 million
Revenue forecast in 2029
USD 4,613.6 million
34.7% from 2022 - 2029
2017 - 2020
2022 - 2029
Revenue in USD million/billion and CAGR from 2022 to 2029
By Technology, By Type, By Shape, By Payload, By Application, By Region
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Atlas Elektronik GmbH, Bluefin Robotics, Boing, Boston Engineering Corporation, ECA Group, ecoSUB Robotics, EELUME AS, Falmouth Scientific, Fugro, Graal Tech, Hydromea, International Submarine Engineering (ISE) Ltd., Kongsberg Groups, L3Harris Technologies, Lockheed Martin Corporation, Nido Robotics, Oceanserver Technology, Riptide Autonomous Solutions, Saab Group, Lockheed Martin Corporation, Teledyne Technologies, Terradepth, and Tianjin Sublue.