What Has Been The Evolution of the Autonomous Underwater Vehicles Market in Recent Years?
The autonomous underwater vehicles market has seen considerable growth due to a variety of factors.
• The market size for autonomous underwater vehicles has seen rapid expansion in the last few years. It is projected to increase from $2.41 billion in 2024 to $2.91 billion in 2025, expanding at a compound annual growth rate (CAGR) of 20.5%. Factors contributing to this growth during the historic period include a surge in demand for ocean exploration, military and defense applications, a steep rise in the need for underwater surveys, growing consciousness of the climate change, advancements in energy exploration technologies, efficient ways of gathering data, and cost-effective methods for underwater exploration.
What Are the Future Growth Projections for the Autonomous Underwater Vehicles Market in the Coming Years?
The Autonomous Underwater Vehicles market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for autonomous underwater vehicles is anticipated to experience accelerated expansion in the ensuing years. The market valuation is predicted to reach $5.77 billion by 2029, growing at a compound annual growth rate (CAGR) of 18.6%.
The upsurge during the prediction duration can be associated with a growing requirement for underwater surveillance, monitoring the effects of climate change, exploration of deep-sea mining, commercial utilisation in fishing industry, self-governing navigation prowess, and improved autonomous decision-making. The forecast period is likely to witness trends like the implementation of artificial intelligence (AI), technology miniaturization and compact structures, technological progression, amplifying investments in AUV technology, technological downsizing, and advancements in battery technology.
What Are The Core Factors Supporting Growth In The Autonomous Underwater Vehicles Market?
The autonomous underwater vehicles market is being driven by the expansion of ocean research as well as an increase in defense spending. A deeper understanding of the Earth's oceans and atmosphere is being facilitated by scientific studies of the sea. Defense systems worldwide play a crucial role in this exploration, using manned submersibles to collect geological, biological, and archaeological material from the deep-sea floor. The use of autonomous underwater vehicles greatly enhances these operations. The Stockholm International Peace Research Institute (SIPRI), a Swedish international research institute devoted to arms control, arms transfers, and non-proliferation, reported in April 2022 that Russian military spending saw a jump of 9.2% in 2022, totaling about $86.4 billion. This accounted for 4.1% of the nation's GDP, a rise from 3.7% in 2021. Hence, due to the escalating ocean research and increased defense expenditure worldwide, the autonomous underwater vehicles market is experiencing significant growth.
What Are The Major Segments Within The Global Autonomous Underwater Vehicles Market?
The autonomous underwater vehicles market covered in this report is segmented –
1) By Type: Shallow, Medium, Large
2) By Payload Type: Cameras, Sensors, Synthetic Aperture Sonar, Echo Sounders, Acoustic Doppler Current Profilers
3) By Technology: Collision Avoidance, Communication, Imaging, Navigation, Propulsion,
4) By Application: Archeological And Exploration, Environmental Protection And Monitoring, Military And Defense, Oceanography, Offshore Renewable Energy, Oil And Gas, Search And Salvage Operation
Subsegments:
1) By Shallow: Small-Scale AUVs, Inspection And Monitoring AUVs
2) By Medium: Research AUVs, Survey AUVs
3) By Large: Long-Range Exploration AUVs, Military AUVs
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Which Trends Are Expected To Transform The Autonomous Underwater Vehicles Market?
The rise in technology is a prominent trend ratcheting up the autonomous underwater vehicles market’s popularity. The key enterprises in this market are concentrating on formulating technologically superior solutions to maintain their market status. For instance, Kongsberg Gruppen, a Norwegian aviation firm, in March 2022, unveiled HUGIN Edge, an enhanced medium-sized autonomous underwater vehicle (AUV) from the HUGIN family of AUVs, equipped with exceptional battery technology. The HUGIN Edge incorporates remarkable advancements such as synthetic aperture sonar, high-frequency multibeam echosounder, and a replaceable camera or sub-bottom profiler. Weighing nearly 300kg, its exceptional strength and reliability are worth noting.
Who Are the Key Players In The Autonomous Underwater Vehicles Market?
Major companies operating in the autonomous underwater vehicles market include:
• Fugro N.V.
• Kongsberg Gruppen A.S.A
• Boston Engineering Corporation
• Teledyne Technologies Inc
• The Boeing Company
• Atlas Elektronik Gmbh
• Riptide Autonomous Solutions
• Tianjin Sublue Ocean Science & Technology Co. Ltd
• Falmouth Scientific Inc.
• Terradepth
• ecoSUB Robotics Limited
• Eelume AS
• BaltRobotics Sp.z.o.o.
• Hydromea SA
• Bluefin Robotics Corporation
• Chesapeake Technology Inc
• Exocetus Development LLC
• OceanServer Technology Inc.
• Phoenix International Holdings Inc.
• Teledyne Technologies Inc.
• Thales Underwater Systems
• ECA Group
• Hydroid Robotics Inc.
• OceanServer Inc.
• Mitsubishi Electric Corporation
• Toshiba Corporation
• Kawasaki Heavy Industries Ltd.
What Is The Most Dominant Region In The Autonomous Underwater Vehicles Market?
Asia-Pacific was the largest region in the autonomous underwater vehicles market in 2024. The regions covered in the autonomous underwater vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
