For quite some years now, the autonomous underwater vehicle is the undisputed boss on account of niche underwater applications. On the other hand, the developing acknowledgment of these multi-purpose vehicles has now transformed them into the accepted decision for the subsea network. The most recent decade has seen the overall market move towards into its very own with AUV's being decided for most deep-water studies. Mainstream researchers have additionally picked autonomous underwater vehicles for both works in shallow waters in addition to deep exploration. Novel applications have surfaced in the overall market since these vehicles are basic in rescue & search missions, archaeology, and in salvage operations. The global market for the autonomous underwater vehicle is expected to surpass more than US$ 447 million by the end of 2022. The global AUV market is anticipated to exhibit a remarkable CAGR of 6.1% during the five-year assessment period of 2022.
By product type, the worldwide market is segmented into large AUVs (depth > 1,000 meters), medium AUVs (depth <= 1,000 meters) and shallow AUVs (depth <=100 meters). Of these, the large AUVs are likely to contribute huge to the overall market and will continue to remain so over the next five years. This category is anticipated to have a market valuation of higher than US$ 170 Million before the end of 2022, pulling through a huge prospect for all companies alike. Both shallow AUVs and medium AUVs are expected to gain equal revenue shares in the worldwide market.
By end-use, the worldwide market is segmented into oil & gas, oceanography, search and salvage operations, archeological and exploration, environmental protection and monitoring and military & defense. Of these, the oil & gas segment is projected to account for a value of about US$ 65.2 Million by 2022 end. However, the military & defense category is significantly larger among other end users. The environmental protection and monitoring are likely to gain traction during 2022. Also, the oceanography will be witnessing a robust 6.1%CAGR throughout the assessment period.
By technology type, the worldwide market is segmented into imaging, propulsion, navigation, communication, and collision avoidance.
Region-wise, North America is expected to be dominant among all regions and will alone account for about one-third of the large AUVs in the worldwide market. Along with North America, the European region is expected for a robust CAGR and to watch out for in the medium AUV category for the duration of the estimated period.
The foremost companies active in the worldwide market are International Submarine Engineering Ltd., Hydromea SA, L3 OceanServer, ATLAS ELEKTRONIK GmbH, Fugro, Saab AB, ECA Group, Teledyne Gavia Ehf, Kongsberg Maritime and others.