Visiongain has published a new report entitled Autonomous Underwater Vehicle (AUV) Market Report 2024-2034: Forecasts By Shape (Torpedo, Laminar Flow Body), by Type (Shallow AUVs (up to 100 m), Medium AUVs (up to 1,000m), Large AUVs (more than 1,000m)), by Payload Type (Cameras and Sensors, Synthetic Aperture Sonar (SAS), Acoustic Doppler Current Profilers (ADCP), Other), 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.

The global autonomous underwater vehicle (AUV) market is estimated at US$1,426.8 million in 2024 and is projected to grow at a CAGR of 15.5% during the forecast period 2024-2034.

Expansion of Offshore Renewable Energy Projects

The growing emphasis on renewable energy sources has led to an increase in offshore wind and tidal energy projects. AUVs play a crucial role in the installation, inspection, and maintenance of underwater structures associated with these projects. For example, AUVs are used to survey seabeds for suitable turbine installation sites and to monitor the condition of underwater cables. The European Union’s ambitious targets for renewable energy production have spurred the growth of offshore wind farms, further driving the demand for AUVs in the renewable energy sector.

Advances in Battery and Power Systems

Innovations in battery technology and power management systems have significantly improved the endurance and operational range of AUVs. Lithium-ion batteries, fuel cells, and advanced power management systems enable AUVs to undertake longer missions with reduced downtime for recharging or refuelling. Companies like Kongsberg Maritime are developing AUVs with extended mission durations, allowing for more comprehensive and continuous data collection. These advancements in battery and power systems enhance the overall performance and reliability of AUVs, driving their adoption across various industries.

How will this Report Benefit you?

Visiongain’s 428-page report provides 125 tables and 209 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the autonomous underwater vehicle (AUV) 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 (AUV). Get financial analysis of the overall market and different segments including shape, type, payload type, technology, and application and capture higher market share. We believe that there are strong opportunities in this fast-growing autonomous underwater vehicle (AUV) 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?

Enhanced Data Processing and Communication Technologies

The integration of advanced data processing and communication technologies has enhanced the capabilities of AUVs in data collection, analysis, and real-time reporting. Technologies such as high-speed data links, satellite communication, and cloud computing enable AUVs to transmit large volumes of data to surface vessels or remote monitoring centres. This facilitates real-time decision-making and enhances the efficiency of underwater operations. For instance, the use of 5G technology in AUV communication systems improves data transfer speeds and connectivity, making AUV operations more efficient and reliable.

Rising Investments in Marine Research and Exploration

Governments, research institutions, and private companies are increasingly investing in marine research and exploration to better understand the ocean environment and its resources. Initiatives such as the United Nations Decade of Ocean Science for Sustainable Development (2021-2030) aim to promote ocean science and technology for sustainable development. AUVs are critical tools for these initiatives, enabling detailed exploration and mapping of the ocean floor, biodiversity studies, and resource assessment. The increasing investments in marine research and exploration drive the demand for AUVs, contributing to market growth.

Where are the Market Opportunities?

Expansion in Marine Archaeology and Underwater Exploration

One of the most promising opportunities in the AUV market lies in the field of marine archaeology and underwater exploration. The vast, unexplored regions of the ocean hold countless historical artifacts, shipwrecks, and submerged cities, waiting to be discovered. AUVs, equipped with advanced sonar, imaging systems, and AI capabilities, can autonomously navigate these challenging underwater environments, providing detailed maps and high-resolution images. For example, the use of AUVs in the Black Sea has led to the discovery of well-preserved ancient shipwrecks, offering invaluable insights into historical trade routes and naval architecture. As interest in underwater cultural heritage grows, demand for AUVs is expected to increase, providing significant growth potential for manufacturers and technology developers.

Environmental Monitoring and Climate Change Research

Environmental monitoring and climate change research present substantial opportunities for the AUV market. AUVs are indispensable tools for collecting critical data on ocean temperatures, salinity, currents, and marine life, which are essential for understanding and mitigating the impacts of climate change. The deployment of AUVs in large-scale research initiatives, such as the Argo programme, has already provided valuable insights into the state of the world’s oceans. Moreover, AUVs can be used to monitor marine pollution, such as plastic debris and oil spills, helping to develop effective mitigation strategies. As global efforts to combat climate change intensify, the role of AUVs in environmental monitoring is expected to expand, offering significant growth prospects for the market.

Competitive Landscape

The major players operating in the autonomous underwater vehicle (AUV) market are Bluefin Robotics, Boston Engineering Corporation, ECA Group, Exail Technologies SA, Fugro, General Dynamics Mission Systems, Hibbard Inshore, Hydromea, Kongsberg Gruppen, L3Harris Technologies Inc, Liquid Robotics, Lockheed Martin Corporation, Oceaneering International, Inc, Riptide Autonomous Solutions, SAAB AB, Teledyne Technologies Inc, ThyssenKrupp Marine Systems. 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.

Recent Developments

• 01 July 2024, La Garde (France) has entered into strategic collaboration on the CARMA (Mineral resources mapping by AUVs swarms) project is Exail, RTsys, and ABYSSA. The CARMA project, co-funded by Bpifrance under the #France2030 programme, is focused on creating swarms of Autonomous Underwater Vehicles (AUVs) for effective mapping of the ocean floor.
• 09 Feb 2024, With the Defence Innovation Unit (DIU) awarding Kongsberg Discovery a contract, the company will work quickly to provide the U.S. Military with HUGIN Autonomous Underwater Vehicle (AUV) capabilities. The total contract value may lead to the Navy receiving HUGIN Endurance and HUGIN Superior deep-water AUV systems.

Notes for Editors

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