DUBLIN--(BUSINESS WIRE)--The "Autonomous Underwater Vehicle Market by Type (Shallow, Medium, & Large AUVs), Technology (Navigation, Imaging), Payload (Cameras, Sensors, Echo Sounders), Application (Military & Defense, Archeological & Exploration) Region - Global Forecast to 2023" report has been added to Research and Markets' offering.
The Autonomous Underwater Vehicle Market is Expected to Grow from USD 362.5 Million in 2017 to USD 1,206.9 Million By 2023, at a CAGR of 22.20%
The increasing demand for AUVs worldwide for monitoring sea borders and for various applications in the oil & gas industries is driving the growth of the autonomous underwater vehicle market. However, stringent government regulations on using AUVs in countries such as the US and high costs of operations are restraining the growth of the market.
Among all applications, the autonomous underwater vehicle market for archeological and exploration applications is expected to grow at the highest rate between 2017 and 2023. AUVs are widely used as an important tool for underwater exploration activities to extract minerals such as cobalt, zinc, and magnesium; these minerals are used in the fabrication of smartphones, laptops, and hybrid cars, among others. However, military & defense applications are expected to hold the largest share of the autonomous underwater vehicle market in 2017.
Imaging systems on AUVs are capable of capturing pictures of the seabed and the surrounding habitat, which help researchers in their oceanography or habitat research studies. Along with this, the growing awareness about the ability of these imaging systems to provide exact information, such as color and size of objects present in the area under survey, is one of the key factors contributing to the growth of the market for imaging technology.
North America held the largest share of the autonomous underwater vehicle market in 2016. North America is home to some of the major players in the autonomous underwater vehicle market such as Boston Engineering Corporation (US), Bluefin Robotics (US), Teledyne Technologies (US), L3 OceanServer (US), and International Submarine Engineering Limited (Canada). Also, the increasing adoption of AUVs for military & defense applications in the US is driving the growth of the AUV market in North America. However, among all the applications, the autonomous underwater vehicle market in APAC is expected to grow at the highest rate between 2017 and 2023.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Shapes of AUVs
7 AUV Market, By Technology
8 AUV Market, By Type
9 Payload Market, By Type
10 AUV Market, By Application
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiles
- Atlas Elektronik Gmbh
- Bluefin Robotics
- Boston Engineering Corporation
- Eca Group
- Fugro
- Graal, Inc.
- International Submarine Engineering (Ise) Ltd.
- Kongsberg Maritime
- Lockheed Martin Corporation
- Saab Ab
- Teledyne Gavia Ehf.
For more information about this report visit https://www.researchandmarkets.com/research/5cnp3p/autonomous