Autonomous Underwater Vehicles Market Scope
Self-programmable robotic vehicles that can travel underwater without any human operators are called as Autonomous Underwater Vehicles (AUV). AUVs can be used in numerous industries such as commercial, research, military applications and others. Some of the automated underwater vehicles do communicate with the remote operators periodically or continuously with the help of radio waves.
According to AMA, the Global Autonomous Underwater Vehicles market is expected to see growth rate of 21.3% and may see market size of USD1.6 Billion by 2026.
The competition is rising amongst the AUV manufacturers to attain competitive edge by proposing innovative and unique technologies. This is expected to drive more invest into R&D activities and is assisting in the elimination of the drawbacks offered by the existing models. Some of the key manufacturers operating in the market are Kongsberg Maritime, Ocean Server Technology, Teledyne Technologies International Corp, and International Submarine Engineering (ISE) Ltd. Research Analyst at AMA estimates that Europe and North America Manufacturers will contribute to the maximum growth of Global Autonomous Underwater Vehicles market throughout the predicted period.
Kongsberg Maritime (Norway), OceanServer Technology (United States), Teledyne Technologies International Corp (United States), Bluefin Robotics (United States), Atlas Elektronik (Germany), International Submarine Engineering, Ltd. (Canada), Japan Agency for Marine-Earth Science and Technology (Japan), ECA Group (France), Falmouth Scientific, Inc. (United States) and Tianjin Sublue Ocean Science & Technology Co., Ltd (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are SAAB Group (Sweden), Ostar Marine Service Co. Ltd (China), Subsea7 (United Kingdom) and Oceaneering International, Inc. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Autonomous Underwater Vehicles market by Type (Shallow AUV (depth up to 100 m), Medium AUVs (depth up to 1000 m) and Large AUVs (depth more than 1000 m)), by Application (Defense, Scientific Research, Commercial and Others) and Region with country level break-up.
On the basis of geography, the market of Autonomous Underwater Vehicles has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Trend
- Increased Functionality and Versatility
- Ability of Longer Mission Life
Market Drivers
- Augmenting Need for Dynamic Research
- Increasing Significance of Security Concerns across the Globe
Opportunities
- Increasing Adoption in Applications such as Military & Defense, Environmental Protection
- Growing Technological Developments
Restraints
- High Energy Consumption
- Extravagant Manufacturing and Operational Overheads
Challenges
- Stringent Regulatory Factors in AUV Manufacturing
- Proper Raw Material Procurement for Cost Effective Solutions
Key Target Audience
AUV Manufacturers, Defense Industry, Marine Industries, AUV Traders, Government Agencies, Research Institutes and Others