Increasing Offshore Oil & Gas Production to Drive Autonomous Underwater Vehicle Market

Growing demand of reliable security measures, increase in the offshore oil & gas production globally and booming automobile industry, to drive the Global Autonomous Underwater Vehicle Market through 2022

According to TechSci Research report, “Global Autonomous Underwater Vehicle Market, By Vehicle Type (Shallow AUVs, Medium AUVs, etc.), By Technology (Collision Avoidance, Navigation, etc.), By End User (Commercial, Military & Defence, etc.) & By Geography, Forecast & Opportunities, 2022’’, the market is expected to witness robust growth at a CAGR of 13.46%, in value terms, by 2022, owing to the increasing government investments on defence, increasing need for energy, and high demand from the emerging economies. Moreover, the increasing demand of AUV technology in automotive industry and rising applications in the research segment are likely to drive the autonomous underwater vehicle market during the forecast period. Additionally, the implementation of advanced technologies such as Sonar, navigation systems, Fin Control Actuators and Linear Electromechanical Actuators will ensure robust growth of the market in the next five years.

Moreover, increasing adoption of AUVs among researchers and scientists to study oceanography and habitat studies owing to the presence of imaging systems that allow precise information of colour, area and size, will fuel the growth of the Global Autonomous Underwater Vehicle market during forecast period.

Browse 40 market data Tables and 285 Figures spread through 341 Pages and an in-depth TOC on  "Global Autonomous Underwater Vehicle Market"  

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On the basis of the type of vehicle, the Global Autonomous Underwater Vehicle market is segmented into shallow, medium, and large units. The large units segment is anticipated to grow at the highest CAGR during the forecast period owing to the presence of a wide range of navigation & positioning systems as well as sensors that are likely to be adopted by various companies as they are focused on R&D.

BAE Systems, Columbia Group, Festo, Liquid Robotics Kongsberg Maritime, Teledyne Technologies etc, are major companies operating in autonomous underwater vehicle, globally.

North America leads the autonomous underwater vehicle market in 2016 owing to the growing adoption of AUVs in the military & defense segment in the United States, coupled with the increasing government investments in research activities. The market in APAC is projected to grow at the highest rate between 2017 to 2022 on the back of increasing government investment on maritime technologies, growing energy demand and high GDP growth rate in constituent regions like China and India.

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“The oil and gas sector is likely to be one of the largest area of growth for the Autonomous Underwater Vehicle market as these vehicles can inspect as well as performs light intervention on the seabed, which would reduce the use of expensive surface vessels. Moreover, improvement in battery life coupled with the use of AUVs for seafloor mining is expected to boost Autonomous Underwater Vehicle market through 2022.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Autonomous Underwater Vehicle Market, By Vehicle Type (Shallow AUVs, Medium AUVs, etc.), By Technology (Collision Avoidance, Navigation, etc.), By End User (Commercial, Military & Defence, etc.) & By Geography, Forecast & Opportunities, 2022” has evaluated the future growth potential of Global Autonomous Underwater Vehicle market and provides statistics and information on market size, structure and future market growth. The report offers decision makers superior market intelligence, thereby enabling them conduct thorough investment appraisal. Besides, the report also analyzes the evolving market inclinations along with indispensable drivers, challenges and opportunities in Global Autonomous Underwater Vehicle Market.

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