AUV Market Share, Applications, Segmentations & Forecast by 2024

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Autonomous Underwater Vehicle (AUV) Market
Present Scenario and Growth Prospects from 2017
to 2024 Global Market Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Regional Analysis of Autonomous Underwater
Vehicle Market

• The Asia Pacific AUV market will witness a high
  growth owing to its implementation in several
  regional navy applications.
• High GDP growth in several countries in the
  region will create several growth opportunities.
• Rising awareness regarding the growing security
  requirements in countries, such as China, India,
  Japan, and South Korea, has enhanced the adoption
  of these vehicles.

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• Application Analysis of Autonomous Underwater
  Vehicle Market
• Based on the applications, the AUV market can be
  segmented into military defense, oil gas,
  environmental protection monitoring,
  oceanography, archeological exploration, and
  search salvage operations. The archeological
  exploration segment is anticipated to grow
  steadily owing to the use of vehicles in
  underwater exploration activities, which include
  the extraction of minerals such as magnesium,
  zinc, and cobalt. These minerals are being used
  in the fabrication of hybrid cars, laptops, and
  smartphones, which are driving the AUV market
  growth. In addition, the vehicles are being used
  in oceanography applications to map obstructions,
  rock formations, and submerged wrecks for usage
  in security applications.
• The AUV market can be segmented into technology,
  type, and applications. Based on technology, the
  industry is classified into collision avoidance,
  navigation, communication, imaging, and
  propulsion technologies. The navigation
  technology will witness a high growth over the
  coming years as the information, such as the
  location of vehicles, is necessary for safe
  operation and recovery. The technology is
  essential for achieving an accurate underwater
  mission completion. The navigation of AUVs is
  improved with the help of an underwater acoustic
  positioning system, which is a tracking system
  for underwater vehicles and divers with the help
  of acoustic distance measurements.

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Competitive Market Share of Autonomous
Underwater Vehicle Market

• Moreover, the presence of major players, such as
  Atlas Elektronik GmbH, Lockheed Martin
  Corporation, and Saab Group in the region, is
  providing a strong base for the AUV market over
  the coming years. Major players operating in the
  AUV market are Atlas Elektronik GmbH, Saab Group,
  Bluefin Robotics, Boston Engineering Corporation,
  Lockheed Martin Corporation, International
  Submarine Engineering (ISE) Ltd., Oceanserver
  Technology, Teledyne Technologies, Kongsberg
  Gruppen, Graal, Inc., Eca Group, and Fugro.
• The rising competition amongst the players in the
  AUV market to sustain their position by offering
  innovative and distinctive technology based
  vehicles is making them invest increasingly on
  various RD activities and is helping in the
  elimination of the disadvantages offered by the
  existing vehicles.

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