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

 An autonomous underwater vehicle (AUV) is a vehicle that is operated underwater and does not require any human effort for its operation. It has the capability to function according to the preprogrammed instructions that are imbibed within. Autonomous underwater vehicles are primarily used to map seafloors, examine the physical and biological properties of water, detect a lost ship, conduct pipeline inspections, and serve the Navy.

These vehicles are mainly used for calculating the depths of the ocean and for submarine navigation. AUVs have the ability to automatically return to their preprogrammed location after completing any given task or mission, where the data collected by them is administered in a format similar to shipboard systems or vessels.

These vehicles are capable of going to places where humans cannot and thus offer 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 expenditures on their power as they carry their own energy sources.

Autonomous underwater vehicles are deployed for investigation activities for underwater surveying applications such as pipe surveys in the oil and gas industries. If research activities in the oil and gas industry increase, it is expected to spur the need for autonomous underwater vehicles in the years to come.

In North America, mainly in the U.S., there is a considerable demand for autonomous underwater vehicles for defense purposes. Also, the presence of prominent market players like Boston Engineering Corporation and General Dynamics Deep Ocean Engineering supports regional growth.

The government bodies in the U.S. are spending a significant amount on seawater 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 vehicles, received a contract from the U.S. government to deliver the vehicles until December 2024.

The overall value of the contract is $22.2 million. Moreover, in other regions like Asia Pacific, the growing GDP and increasing demand from the Navy and military sectors in India and China are creating opportunities for autonomous underwater vehicles.

For instance, in July 2018, the Indian Navy launched an autonomous underwater vehicle named Adamya, which is 5 meters long, has an underwater endurance of 8 hours, has a speed of 4 knots, and is capable of diving up to 1500 feet. The autonomous underwater vehicle can be launched from a submarine torpedo tube and also from surface ships. Adamya is proficient in undertaking missions like offshore surveys, mine detection, environmental monitoring, and anti-submarine operations.

However, one of the major challenges facing autonomous underwater vehicles is communication. Transferring information in the form of electromagnetic waves becomes quite difficult, and the sound waves in shallow water are affected by temperature. Also, these vehicles incessantly face the problem of maintaining an accurate position under the water bodies. In addition, when the vehicle is in mid-depth in the body of water 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 accuracy in terms of location is one of the major challenges facing 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 currents. However, as technology advances, there are constant changes and developments in the communication and navigation of autonomous underwater vehicles. This, in turn, is expected to facilitate the market for autonomous underwater vehicles during the forecast period from 2019 to 2027.

The global market for autonomous underwater vehicles is classified as follows:

Manufacturers of self-driving underwater vehicles include, but are not limited to:

Oceaneering International, Inc., Hydromea, Liquid Robotics, Hibbard Inshore, L3 OceanServer, General Dynamics Mission Systems, Inc., Atlas Marin, Fugro N.V., Kongsberg, Teledyne Marine, ECA Group, Saab AB, Atlas Elektronik LLC, L3 Harris, AUVAC, and International Submarine Engineering Ltd., among others.

This report offers the following:

  • An overview of the autonomous underwater vehicle
  • Market trends assessment for 2019-2027, with historical data for 2017 and 2018 and projections through 2027, with respective CAGRs for 2019-2027
  • Qualitative assessment tools such as market drivers, challenges and future prospects, value chains, and attractive investment propositions
  • Focus on each level of market segmentation based on product approvals, launches, 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
  • Tools for analyzing market competition, such as market share analysis and fractal maps, are available. 

Frequently Asked Question:

The market for Autonomous Underwater Vehicle Market is expected to reach USD$ XX in 2027.

The Autonomous Underwater Vehicle Market is expected to see significant CAGR growth over the coming years, at XX.

The report is forecasted from 2019 -2027.

The base year of this report is 2018.

General Dynamics Mission Systems, Inc., Atlas Marin, Fugro N.V., Kongsberg, Teledyne Marine, ECA Group, Saab AB. are some of the major players in the global market.

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Godaddy
Published Date:  Sep 2019
Category:  Technology & Media
Report ID:   59900
Report Format:   PDF
Pages:   120
Rating:    4.1 (50)
Delivery Time: 24 Hours to 48 Hours   
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