Autonomous Underwater Vehicle (AUV) Market: Growth, Future Prospects And Competitive Analysis, 2019- 2027

Overview:

Autonomous underwater vehicle (AUV) is a vehicle which is operated under water and does not require any human efforts for its operation. It has a capability to function according to the preprogramed instructions which are imbibed within. Autonomous under water vehicles are mainly used to map the seafloors, examine physical and biological properties of water, detecting the lost ship, pipeline inspection or for navy purposes. These vehicles are mainly used for calculating the depths of ocean and for submarine navigation. After the completion of any given task or mission, AUVs has an ability to automatically return to its preprogramed location where data collected by them is administered in the similar format to shipboard systems or vessels. These vehicles are capable of going to places where humans cannot go and thus offers a great help to mankind. The benefits offered by these vehicles include low maintenance costs, preprogrammed navigation, stability, etc. They are self-powered and self-guiding vehicles and therefore do not require high expenditure on its power as they carry their own energy sources.

Autonomous underwater vehicles are deployed for investigation activities for under water surveying applications such as pipe surveys in the oil & gas industries.   Opportunities in front of AUVs are if research activities in oil and gas industry increase, it is expected to surge the need of autonomous underwater vehicle in the years to come. In North America, mainly in the U.S., there is a considerable demand for autonomous underwater vehicle for its defense purposes. Also, the presence of prominent market players like Boston Engineering Corporation, and General Dynamics Deep Ocean Engineering supports the regional growth. The government bodies in the U.S. are spending significant amount on sea water monitoring, which in turn is expected to increase the demand for autonomous underwater vehicles during the forecast period from 2019 to 2027. For instance, in August 2019, Teledyne Technologies Incorporated, a leading provider of autonomous underwater vehicle received a contract from the U.S. government to deliver the vehicles till December 2024. The overall value of the contract is valued at $22.2 Mn. Moreover, in other regions like Asia Pacific, the growing GDP and increasing demand from navy and military sector in India and China is creating opportunities for the autonomous underwater vehicles. For instance, in July 2018, India navy launched an autonomous underwater vehicle, named Adamya, which is 5 meters long and has an underwater endurance of 8 hours with a speed of 4 knots and is capable of diving up to 1500 feet. The autonomous underwater vehicle can be launched from submarine torpedo tube and also from surface ships. Adamya is proficient of undertaking missions like offshore survey, mine detection, environmental monitoring and antisubmarine operations.

However, one of the major challenge in front of autonomous underwater vehicle is communication. Transferring information in the form of electromagnetic waves becomes quite difficult and the sound waves in shallow water is affected by temperature. Also, these vehicles incessantly face problem of maintaining accurate position under the water bodies. In addition, when the vehicle is in mid depth of the water body or goes beyond the required depth, the GPS system fails to provide the location and time information which thereby affects the communication process. As a result, providing the accuracy in terms of location is one of the major challenge in front of the manufacturers of autonomous underwater vehicles. Moreover, many unpredictable disturbances may tend to occur in the vehicle due to changes in weather conditions, wind and ocean current. However, with the advancements in the technology, continuous changes and developments are made with respect to the communication and navigation of autonomous underwater vehicles. This, in turn is expected to facilitate the market for autonomous underwater vehicle during the forecast period from 2019 to 2027.

The global autonomous underwater vehicle market is segmented on the following bases:

Some of autonomous underwater vehicle manufactures are but not limited to:

Oceaneering International, Inc., HYDROMEA, Liquid Robotics, Hibbard Inshore, L3 OceanServer, General  Dynamics Mission Systems, Inc., ATLAS MARIDAN, Fugro N.V., KONGSBERG, Teledyne Marine, ECA Group, Saab AB, Atlas Elektronik LLC, L3Harris, AUVAC, and International Submarine Engineering Ltd. among others.

This report offers:

• An overview of the autonomous underwater vehicle
• Market trends assessment for the period 2019-2027, with historical information for 2017 & 2018, and projections through 2027, with respective CAGR during 2019-2027
• Qualitative assessment tools such as market drivers, challenges and future prospects, value chain, and attractive investment proposition.
• Focus on each level of market segmentation based on product approvals, launch, and current and anticipated market dynamics.
• A general overview of the industry structure
• Company profiles highlighting key information about the major players operating in the  autonomous underwater vehicle
• Market competition scrutiny tools such as market share analysis, fractal map, etc.