Global Offshore Autonomous Underwater Vehicle (AUV) Market: Information by Type (Shallow, Medium and Large), Technology (Communication, Collision Avoidance, Navigation, Imaging and Propulsion), Payload (Sensors, Cameras, Synthetic Aperture Sonars and others), Application (Military & Defense; Oil & Gas; Oceanography; Environmental Protection and Monitoring; Archaeological and Exploration and Search and Salvage Operations) and Region (North America, Europe, Asia Pacific, Middle East and Africa and Latin America) - Forecast to 2024
ID: MRFR/A&D/6741-CR | August 2019 | Region: Global | 168 pages
Market Scenario
Global Offshore Autonomous Underwater Vehicle (AUV) Market is expected to register a 15.70% CAGR during the forecast period.
Autonomous operated vehicles (AUV) are unmanned underwater vehicles that are operated without human intervention. The offshore autonomous underwater vehicle (AUV) offers various types of shallow, medium, and large. Furthermore, AUVs are equipped with technologies such as communication, collision avoidance, navigation, imaging, and propulsion. AUVs are capable of carrying multiple or combinations of payloads, including sensors, cameras, and synthetic aperture sonars, among others. Apart from their large-scale application in the oil & gas industry, AUVs are also used in industries such as military & defense, oceanography, environmental protection & monitoring, archaeological & exploration, and search & salvage operations.
Global Offshore Autonomous Underwater Vehicle (AUV) Market Share, by Region, 2018 (%) 
Source: MRFR Analysis
Companies Covered
The key players in the global offshore autonomous underwater vehicle (AUV) market are Boston Engineering Corporation (US), ECA Group (France), Fugro (Netherlands), General Dynamics Corporation (US), Graal Tech SRL (Italy), International Submarine Engineering Limited (Canada), Kongsberg Maritime AS (Norway), Lockheed Martin Corporation (US), Saab AB (Sweden), and Teledyne Technologies Incorporated (US).
Global Offshore Autonomous Underwater Vehicle (AUV) Market Growth, 2018–2024 
Source: MRFR Analysis
The growing demand for AUVs in the oil & gas industry and the increase in military spending are some of the key drivers for the growth of the global offshore autonomous underwater vehicle (AUV) market. In 2018, North America accounted for 40.94% of the global offshore autonomous underwater vehicle (AUV) global market, followed by Europe, with around 21% of the global market share.
Synopsis
The global offshore autonomous underwater vehicle (AUV) market has been segmented based on type, technology, payload, payload, and region. By type, the market has been classified as Shallow, Medium, and Large. The technology segments of the market are communication, collision avoidance, navigation, imaging, and propulsion. The payload segments of the market are sensors, cameras, synthetic aperture sonars, and others. The application segments of the market are military & defense; oil & gas; oceanography; environmental protection and monitoring; archaeological and exploration; and search and salvage operations.
“North America led the market with a valuation of USD 14,498.6 thousand in 2018.”
The global offshore autonomous underwater vehicle (AUV) market has been segmented, by region, into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is expected to be the largest market for an offshore autonomous underwater vehicle (AUV). The offshore autonomous underwater vehicle (AUV) market in North America is expected to register a CAGR of 13.34% during the forecast period. Factors such as stringent government regulations and the presence of prominent offshore AUV providers such as Lockheed Martin Corporation and General Dynamics Corporation are propelling market growth in the region. For instance, in 2017, Lockheed Martin Corporation signed a contract with the US Navy for USD 43.2 million to develop an underwater sea vehicle. In the US, military navy modernization is driving the market growth in the country. Growing investments in the navy by the government is also fueling the offshore AUV market in the country. In Canada, growing initiatives undertaken by public safety organizations to develop unmanned underwater vehicle is also driving the market.
“The oil & gas application segment is expected to dominate the market.”
The exploration of oil & gas fields is now taking place at greater depths than ever before, making the employment of humans impractical. Offshore AUVs are built to work in specific subsea applications such as internal pipe inspection of non-piggable lines, channel crossing inspection, drilling, development, and repair, and subsea line evaluation.
Growing adoption of offshore AUVs by various countries for oil & gas exploration is further propelling the growth of the segment. In March 2019, Saudi Arabian Oil Co. deployed 200 Spice Rack autonomous subsea seismic acquisition units to conduct a seismic ocean bottom survey in the Red Sea. Therefore, the advanced features offered by AUVs is driving their adoption by the oil & gas industry. Hence, the oil & gas segment is expected to register a higher CAGR of 15.90% during the forecast period.
Key Developments
- In March 2019, ECA Group signed a 10-year contract worth USD 508.8 million (450 million Euros) with the Belgian navy. As per the terms of the contract, it will provide AUVs, towed sonars, and mine identification & destruction systems (MIDS) composed of ROV for the identification and destruction of mines, and the unmanned surface vehicles. It helped improve the company’s financial position in the global offshore AUV market.
- In October 2018, General Dynamics Corporation unveiled the Bluefin-9 UUV at the Oceans 2018 conference and exposition in Charleston, South Carolina for defense, academic, and commercial use. The launch of Bluefin-9 UUV helped the company increase its customer base globally.
- In February 2018, ECA Group unveiled its medium-sized AUV, A18-M dedicated to fighting submarine mines. It is compact and equipped with a high-quality imagery system designed specifically for mine hunting. Due to the increasing demand for AUVs for mine detection, the launch of A18-M helped increasing its customer base globally.
Market Segmentation
- By Type: Shallow, Medium, and Large
- By Technology: Communication, Collision Avoidance, Navigation, Imaging, and Propulsion
- By Payload: Sensors, Cameras, Synthetic Aperture Sonars, and Others
- By Application: Military & Defense; Oil & Gas; Oceanography; Environmental Protection and Monitoring; Archaeological and Exploration; and Search and Salvage Operations
- By Region: North America, Europe, Asia Pacific, Middle East and Africa, and Latin America
Research Methodology
The market values and forecast are derived using the Market Research Future (MRFR) research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
Secondary Research
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
Primary Research
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
Key Insights
- Market Sizing, Forecast, and Analysis: Detailed coverage of the market segment and sub-segments
- Regional/Country Trends and Forecast: Detailed analysis of the market in North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America, along with key countries in each region
- Market Dynamics Intelligence: Market drivers, opportunities, trends, restraints, Porter’s five forces, supply chain, and value chain analysis
- Technology Trends, Regulatory Landscape, and Patent Analysis Outlook
- Competitive Intelligence: Market share analysis, financial analysis, product benchmarking, and strategic developments including joint ventures, product launches, and mergers & acquisitions
- Regional attractiveness and related growth opportunities
Report Customization
MRFR offers report customization to valued customers. Below are the options available for customization:
- Company Profiles
In-depth profiling of additional market players (3 to 4 companies)
- Country-Level Analysis
Detailed analysis of a country-level market and related segments as per the report scope (subject to data availability)
Key Questions Addressed by the Report
- What was the historic market size (2018)?
- Which segmentation (Type/Technology/Payload/Application) is driving market growth?
- What will be the growth rate from 2019 to 2024?
- Who are the key players in this market?
- What are the strategies adopted by key players?
Frequently Asked Questions (FAQ) :
Global Offshore Autonomous Underwater Vehicle (AUV) Market’s CAGR is 15.70%.
Global Offshore Autonomous Underwater Vehicle (AUV) Market will be growing during the years from 2018 to 2024.
Global Offshore Autonomous Underwater Vehicle (AUV) Market might record impressive growth upward demand for AUVs in the oil & gas industry and boost in military expenditure.
The market USP of Global Offshore Autonomous Underwater Vehicle (AUV) Market is increasing adoption of offshore AUVs by various countries for oil & gas exploration
The segments of the global aviation software market are type, technology, payload, and application.
