Autonomous Underwater Vehicles (AUV) Market to hit $ 1523.29 Million by 2025, Says Brandessence Market Research

PUNE, India, March 17, 2021 /PRNewswire/ -- The Global demand for Autonomous Underwater Vehicles (AUV) market, in terms of revenue, was worth of USD 412.93 Million in 2019 and is expected to reach USD 1523.29 Million by 2025, growing at a digital transaction management CAGR of 20.5 % from 2019 to 2025.

Brandessence Market Research is working on a new report title "Autonomous Underwater Vehicles (AUV) Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025" Increasing number of research activities in the oil & gas industry, growing government spending for sea water monitoring to maintain aquatic life balance are some major factors driving growth of the global Autonomous Underwater Vehicles (AUV) market.

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Autonomous underwater vehicle is commonly known as unmanned underwater vehicle. Underwater vehicles have applications in mines clearing operation, feature tracking, cable or pipeline tracking and deep ocean exploration. The mechanical and electrical configuration and shape of an underwater vehicle are different according to different applications. An autonomous underwater vehicle may be a self-propelled, untethered underwater vehicle capable of completing simple activities with little or no human operators. AUVs are often used as survey platforms to monitor the seafloor or characterize physical, chemical or biological properties of the water. For instance, manipulators are necessary when doing mines clearing operation or other tasks which require affecting environment. Autonomous Underwater Vehicles (AUV) became a common tool for all communities involved in ocean sampling and now a required asset for gathering detailed ocean data at very reasonable costs.

Global Autonomous Underwater Vehicles (AUV) market has turn out to be an important topic during COVID-19 pandemic outbreak. Autonomous Underwater Vehicles (AUV) market gaining huge attention due to pandemic outbreak.

Key Companies Covered by Brandessence Market Research in the Autonomous Underwater Vehicles (AUV) market: Kongsberg Maritime AS, Teledyne Gavia ehf, Saab AB, Dynamics Corp., Atlas Elektronik GMBH, L3 OceanServer, Hydromea SA, ECA Robotics SAS, International Submarine Engineering Ltd. Fugro N.V.

Autonomous Underwater Vehicles (AUV) market report is segmented on the basis of type, shape, technology, application and by regional & country level. Based upon type, Autonomous Underwater Vehicles (AUV) market is classified into shallow AUVs, medium AUVs and large AUVs. Based upon shape, Autonomous Underwater Vehicles (AUV) market is classified into streamlined rectangular style, multihull vehicle, torpedo and laminar flow body. Based upon technology, Autonomous Underwater Vehicles (AUV) market is classified into navigation, propulsion, collision avoidance, communication and imaging.  Based upon application, Autonomous Underwater Vehicles (AUV) market is classified into oil & gas, oceanography, archeological, and exploration search and salvage operations, military & defense, environmental protection and monitoring and others.

By Type:

• Shallow AUVs
• Medium AUVs
• Large AUVs

By Shape:

• Streamlined Rectangular Style
• Multihull Vehicle
• Torpedo
• Laminar Flow Body

By Technology:

• Navigation
• Propulsion
• Collision Avoidance
• Communication
• Imaging

By Application:

• Oil & Gas
• Oceanography
• Archeological Operation
• Exploration Search and Salvage Operations,
• Military & Defense
• Environmental Protection and Monitoring
• Others

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Autonomous Underwater Vehicles (AUV) Market Dynamics:    Increasing number of research activities in the oil & gas industry, growing government spending for sea water monitoring to maintain aquatic life balance are some major factor driving growth of the global Autonomous Underwater Vehicles (AUV) market. World oil production stood at 98.3 Mb/d in 2018, up from the 2017 daily production level of 95.7 mb/d. Moreover, increasing number of oceanography, research and other investments like in navy defense is expected to drive the autonomous underwater vehicle market over the forcast period. According to Organization for Economic Co-operation and Development (OECD), from 2017, Oil demand will reach 104.7 mb/d, up 6.9 mb/d by 2023. However, high cost of the vehicles and requires huge resources in terms of software and hardware. These are key impacting factors hamper the growth of autonomous underwater vehicle market. Moreover, technological advancements, government initiatives in security threat, military & defense operation by using autonomous underwater vehicle will enhance opportunity in the autonomous underwater vehicle market during forecast period.

MSubs Gots Contract for XL Autonomous Submarine Development

News: March 13, 2020, MSubs announced the contract for XL Autonomous Submarine Development at the Underwater Defence & Security Symposium in Southampton. It used to explore the potential capabilities of larger uncrewed underwater vehicles in the future. This autonomous submarine is significantly larger than autonomous submarines, Measuring about 30 feet in length which used for beach reconnaissance allowing it to operate at a range of 3000 nautical miles.

Asia Pacific is projected to witness strong growth due to rising industrialization and increasing usage of AUVs in defense operations and deep water survey for the oil & gas industry in emerging economies in the region. Additionally, presence of expertise, advanced equipment and technologies and increased exploration and production activities are the major factors supporting the regional market growth forecast period.  According to IEA, Gas demand in the coming five years is set to be driven by Asia Pacific, forecast to account for almost 60% of the total consumption increase to 2024.

Continued Autonomous Underwater Vehicles (AUV) Market Report …

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