The Autonomous underwater vehicle (AUV) market is estimated to be valued at USD 1.5 billion in 2021 and reach USD 4.3 billion by 2026, at a CAGR of 23.1% between 2021 and 2026.
The The Increasing capital expenditure of companies in offshore oil & gas industry, and rising defense spending in several countries worldwide are the key factors driving the growth of the market. Likewise, Development and incorporation of advanced technologies in AUVs, and the upcoming expansion of Internet through 5G driving demand for underwater cables are expected to create lucrative opportunities for the players in the Autonomous underwater vehicle (AUV) market. However, high operational costs of AUVs are expected to restraint market growth.
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The Autonomous underwater vehicle (AUV) market, on the basis of technology, has been segmented into Collision Avoidance, Communication, Navigation, Propulsion, and Imaging. The imaging segment of the market is projected to grow at the highest CAGR during the forecast period. The imaging systems used in AUVs are capable of capturing pictures of the seabed and surrounding areas, which help researchers in oceanography or habitat research studies. Advancements in imaging technologies are expected to lead to increased use of AUVs in the oil & gas industry to carry out inspection activities. They are also used in the military & defense sector to carry out search operations.
The Autonomous underwater vehicle (AUV) market, on the basis of type, has been segmented into Shallow AUVs (up to 100 m), Medium AUVs (up to 1,000m), and Large AUVs (more than 1,000m). In terms of value, the large AUVs segment is expected to account for a larger share of the market by 2026. Large AUVs are used to carry out hydrographic exploration activities, deep ocean search operations, and deepwater surveys at depths of more than 1,000 m. These AUVs, designed for exploration activities in deepwater, are specifically used for deepwater mapping and surveying applications. Large AUVs have better endurance and capabilities than other types of AUVs.
The Autonomous underwater vehicle (AUV) market, based on shape, has been segmented into Torpedo, Laminar Flow Body, Streamlined Rectangular Style, and Multi-hull Vehicle. The Torpedo segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the ease of storage and launch of torpedo-shaped AUVs from ships, aircraft, and helicopters without significant modifications. The drag of these AUVs is the second-best after laminar flow body AUVs. But torpedo-shaped AUVs are preferred over laminar flow body AUVs as they are stable and hence, offer a good balance between speed and stability.
The Autonomous underwater vehicle (AUV) market, on the basis of application, has been segmented into Military & Defense, Oil & Gas, Environment Protection & Monitoring, Oceanography, Archeology & Exploration, and Search & Salvage Operations. The market for military & defense is expected to hold a major share of the market during the forecast period attributed to countries such as the US, Canada, France, and China are increasingly adopting AUVs for military & defense applications.
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Asia Pacific (APAC) is expected to hold the largest share of the global Autonomous underwater vehicle (AUV) market by 2026. The rising need for energy, along with the high GDP growth rate, in developing APAC countries, is creating huge opportunities for the manufacturers of AUVs in this region. Countries such as China, Japan, and India are now exploring the Indian Ocean for oceanographic research. The rising defense activities, including security and ASW, in these countries, are also contributing to the growth of the AUV market in APAC
New York, NY 14 May 2021: The global autonomous underwater vehicle market size is expected to reach USD 2.10 Billion by 2027 according to a new study by Polaris Market Research.
The report “Autonomous Underwater Vehicle (AUV) Market Share, Size, Trends, Industry Analysis Report By Technology (Collision avoidance, Navigation, Communication, Imagery, Propulsion); By AUV Type (Shallow, Medium, Large); By Payload (Sensors, Cameras, Synthetic Aperture Sonars, Echo Sounders, Acoustic Doppler Current Profilers, Others); By Application (Army & defense, Petroleum & gas, Environmental security & tracking, Oceanography, Archeology & exploration, Search & rescue activities); By Regions – Segment Forecast, 2020 – 2027”gives a detailed insight into current market dynamics and provides analysis on future market growth.` Autonomous underwater vehicles or AUVs can also be used to track illegal trafficking in human beings and drugs alongside the smuggling of products and equipment.
Increasing numbers of research operations in the oil & gas industry, combined with growing public expenditure on marine water surveillance to preserve the equilibrium of aquatic life, are anticipated to drive the global AUV market over the forecast period.
The creation of an intricate seabed map ensures that petroleum and gas enterprises build pipelines and facilities is assisted by the use of autonomous underwater vehicles.
Furthermore, mapping the ocean floors by autonomous underwater vehicles makes installation of submerged floors more cost-effective without harm to the underwater environment.
Request For Sample Copy @ https://www.polarismarketresearch.com/industry-analysis/autonomous-underwater-vehicle-market/request-for-sample In addition, fast development in fish farming is also paving the way for the AUV market to grow as these vehicles can provide an inexpensive and safe platform for aqua farmers to monitor water quality parameters such as temperature, turbidity, and conductivity and observe fish conduct during aquaculture feeding procedures.
New York, NY 19 Feb 2021: The global autonomous underwater vehicle market size is expected to reach USD 2.10 Billion by 2027 according to a new study by Polaris Market Research.
The report “Autonomous Underwater Vehicle (AUV) Market Share, Size, Trends, Industry Analysis Report By Technology (Collision avoidance, Navigation, Communication, Imagery, Propulsion); By AUV Type (Shallow, Medium, Large); By Payload (Sensors, Cameras, Synthetic Aperture Sonars, Echo Sounders, Acoustic Doppler Current Profilers, Others); By Application (Army & defense, Petroleum & gas, Environmental security & tracking, Oceanography, Archeology & exploration, Search & rescue activities); By Regions – Segment Forecast, 2020 – 2027”gives a detailed insight into current market dynamics and provides analysis on future market growth.` Autonomous underwater vehicles or AUVs can also be used to track illegal trafficking in human beings and drugs alongside the smuggling of products and equipment.
Request For Sample Copy @ https://www.polarismarketresearch.com/industry-analysis/autonomous-underwater-vehicle-market/request-for-sample Increasing numbers of research operations in the oil & gas industry, combined with growing public expenditure on marine water surveillance to preserve the equilibrium of aquatic life, are anticipated to drive the global AUV market over the forecast period.
The creation of an intricate seabed map ensures that petroleum and gas enterprises build pipelines and facilities is assisted by the use of autonomous underwater vehicles.
Furthermore, mapping the ocean floors by autonomous underwater vehicles makes installation of submerged floors more cost-effective without harm to the underwater environment.
This hinders the vehicles in transmitting or sending data and other relevant information above sea level.
The global autonomous underwater vehicle market size is expected to reach USD 3.22 Billion by 2028 according to a new study by Polaris Market Research.
The report “Autonomous Underwater Vehicle (AUV) Market Share, Size, Trends, Industry Analysis Report By Technology (Collision avoidance, Navigation, Communication, Imagery, Propulsion); By AUV Type (Shallow, Medium, Large); By Payload (Sensors, Cameras, Synthetic Aperture Sonars, Echo Sounders, Acoustic Doppler Current Profilers, Others); By Application (Army & defense, Petroleum & gas, Environmental security & tracking, Oceanography, Archeology & exploration, Search & rescue activities); By Regions – Segment Forecast, 2021 – 2028”gives a detailed insight into current market dynamics and provides analysis on future market growth.
Autonomous underwater vehicles or AUVs can also be used to track illegal trafficking in human beings and drugs alongside the smuggling of products and equipment.
Autonomous underwater vehicles are fitted with state-of – the-art sensor systems, such as sonar systems and oceanographic sensors, which, instead of operator interference, can finish the entire task.Get Sample PDF @ https://www.polarismarketresearch.com/industry-analysis/autonomous-underwater-vehicle-market/request-for-sampleIn addition, fast development in fish farming is also paving the way for the AUV market to grow as these vehicles can provide an inexpensive and safe platform for aqua farmers to monitor water quality parameters such as temperature, turbidity, and conductivity and observe fish conduct during aquaculture feeding procedures.
This hinders the vehicles in transmitting or sending data and other relevant information above sea level.
Although sales volumes are rising, the use of vehicles that hinder the AUV sector is regulated by several government organizations.
