28 July 2023
Visiongain has published a new report entitled Autonomous Underwater Vehicle Market Report 2023-2033: Forecasts by Type (Shallow AUVs (up to 100 m), Medium AUVs (up to 1,000m), Large AUVs (more than 1,000m)), by Shape (Torpedo, Laminar Flow Body, Streamlined Rectangular Style, Multi-hull Vehicle), by Technology (Collision Avoidance, Communication, Navigation, Propulsion, Imaging), by Application (Military & Defence, Oil & Gas, Environment Protection & Monitoring, Oceanography, Archaeology & Exploration, Search & Salvage Operations) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The global autonomous underwater vehicle market was valued at US$939.7 million in 2022 and is projected to grow at a CAGR of 16.1% during the forecast period 2023-2033.
Autonomous Underwater Vehicle (AUVs) Continue to Revolutionize Underwater Exploration
The AUV market is experiencing robust growth due to technological advancements, expanding research initiatives, and commercial applications in various industries. AUVs continue to revolutionize underwater exploration, enabling precision data collection, cost-efficient operations, and safer marine activities. As the demand for in-depth marine studies and resource management rises, AUVs will play a pivotal role in unlocking the mysteries of the deep and contributing to the sustainable management of our ocean resources. The future of autonomous underwater vehicles promises a new era of exploration and innovation, paving the way for transformative discoveries in the vast and uncharted realms beneath the ocean's surface.
How has COVID-19 had a significant negative impact on the Autonomous Underwater Vehicle Market?
The COVID-19 pandemic has had a significant negative impact on the Autonomous Underwater Vehicle (AUV) Market, disrupting various aspects of the industry. Several factors contributed to the downturn, affecting manufacturers, suppliers, research institutions, and end-users. The pandemic caused disruptions in global supply chains, affecting the production and delivery of AUV components and subsystems. Factory closures, transportation restrictions, and labor shortages led to delays in manufacturing and delivery, hindering the timely completion of AUV projects and affecting the availability of AUVs in the market.
As the pandemic unfolded, travel restrictions and social distancing measures impeded field operations and deployments. Many AUV projects were delayed or even cancelled due to the challenges of conducting on-site activities and collaborating with remote teams. Research expeditions, marine surveys, and exploration missions faced postponements, impacting both research institutions and businesses.
The COVID-19 pandemic has cast a shadow of uncertainty on the Autonomous Underwater Vehicle Market, impacting supply chains, project timelines, research activities, and market demand. The industry has faced challenges in sustaining operations, navigating financial constraints, and addressing logistical issues. However, as the global situation improves and industries recover, the AUV market is expected to rebound, with continued demand for unmanned underwater systems in marine research, offshore applications, and defense operations.
How will this Report Benefit you?
Visiongain’s 411-page report provides 127 tables and 190 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global autonomous underwater vehicle market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Autonomous Underwater Vehicle. Get financial analysis of the overall market and different segments including type, shape, application and technology and capture higher market share. We believe that there are strong opportunities in this fast-growing autonomous underwater vehicle market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Cost Savings and Operational Efficiency
Autonomous Underwater Vehicles (AUVs) offer compelling advantages in terms of cost savings and operational efficiency when compared to traditional manned missions. One of the most significant cost-saving aspects is their ability to operate autonomously for extended periods without the need for human intervention. Unlike manned missions that require crew rotation, logistical support, and vessel maintenance, AUVs can be deployed and left to operate independently for days or even weeks, depending on their energy capacity. This autonomy eliminates the need for expensive crew rotations and vessel downtime, resulting in considerable cost reductions for underwater missions.
Environmental Monitoring and Conservation Initiatives
Autonomous Underwater Vehicles (AUVs) play a vital role in advancing environmental monitoring and marine conservation initiatives, offering unprecedented capabilities for gathering crucial data in the underwater realm. Their sophisticated sensors and autonomous navigation capabilities enable them to conduct comprehensive surveys, providing valuable insights into the health and status of marine ecosystems.
One of the key contributions of AUVs in environmental monitoring is their ability to track marine biodiversity. AUVs equipped with advanced imaging systems and acoustic sensors can survey vast underwater areas, identifying and recording various marine species. This data helps researchers and marine biologists gain a deeper understanding of biodiversity patterns, species distributions, and ecosystem dynamics. AUVs enable the discovery of new species and aid in monitoring endangered or vulnerable populations, contributing to marine conservation efforts.
Where are the Market Opportunities?
Increasing Use of UUVs for Mine Disposal & Anti – Submarine Warfare Operations
There is a growing opportunity for the use of Unmanned Underwater Vehicles (UUVs), a specific type of AUV, in mine disposal and anti-submarine warfare operations. UUVs equipped with advanced sensors and capabilities are increasingly being employed to detect and neutralize underwater mines, reducing the risks associated with traditional methods. Additionally, UUVs play a crucial role in anti-submarine warfare, enhancing naval defence capabilities. The increasing adoption of UUVs for these specialized applications presents significant growth opportunities in the AUV market.
AUVs in Commercial Settings Is their Ability to Reduce Operational Costs
AUVs offer substantial cost-saving opportunities in various commercial settings. By deploying AUVs for tasks such as offshore infrastructure inspection, underwater maintenance, and marine resource exploration, companies can reduce operational costs associated with traditional methods. AUVs enable efficient data collection, eliminate the need for costly manned operations, and minimize downtime. The ability to reduce operational costs and increase efficiency positions AUVs as valuable assets in commercial applications across sectors such as offshore energy, aquaculture, environmental monitoring, and underwater construction.
The major players operating in the autonomous underwater vehicle market are Bluefin Robotics, Boston Engineering Corporation, ECA Group, Fugro, General Dynamics Mission Systems, Hydromea, Kongsberg Gruppen, L3 OceanServer, L3Harris Technologies Inc., Liquid Robotics, Lockheed Martin Corporation, Oceaneering International, Inc., Riptide Autonomous Solutions, Saab AB, Teledyne Technologies Incorporated, . These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
• 23 Feb 2023, Topaz Endurance and Topaz Energy, two platform supply vessels that Fugro has agreed to purchase and convert to geotechnical vessels .The market for offshore renewable energy keeps expanding quickly, creating a high demand for Fugro's services and a growing backlog. Geotechnical vessels are important strategic assets for Fugro's market-leading position.
• 22 Feb 2022, The Gavia Autonomous Underwater Vehicle (AUV) was unveiled by Teledyne Marine. The Gavia Autonomous Underwater Vehicle (AUV) is a self-contained, low-logistics, modular survey device that can operate from opportunistic vessels or from the shore and deliver high-quality data. Because of its modular design, the AUV is simple to reconfigure, even between dives.
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