Autonomous Underwater Vehicles Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 13.05 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Autonomous Underwater Vehicles Market Analysis
The Autonomous Underwater Vehicles market is valued at USD 1.04 billion in 2023 and is projected to reach USD 2.15 billion in 2028, registering a CAGR of 13.05% during the forecast period.
The rising global military aggression is a keen factor in multiple nations investing significantly in upgrading their military and naval capabilities. Thus, they are either upgrading or adding AUVs to their naval defense fleet. Furthermore, the ongoing war between Russia and Ukraine necessitated various countries in proximity to remain vigilant and constantly monitor their naval borders. A huge resource influx in the supply of AUVs has been witnessed in recent times to cater to this.
The increased need for deep sea exploration for oil and gas and mineral extraction triggered a need for autonomous underwater vehicles that are bound to reduce the risks for human lives and reach further underwater depths, attracting considerable buyer attraction in recent times. It is expected to drive major demands for AUVs, which can also help in underwater surveillance to warn submarines and ships of any potentially fatal mines that could be planted.
Autonomous Underwater Vehicles Market Trends
Civil Segment is Expected to Experience Substantial Growth During the Forecast Period
The civil segment of the market is expected to grow during the forecast period, owing to the increase in the offshore oil and gas sector and undersea surveys for research purposes. Sectors such as oceanography, hydrology research, scientific exploration, hydrographic survey, emergency fire monitoring, and control in oil rigs specifically drive the market. Automating the underwater vehicle so that there would be little to no human guidance lessens the risk of human error, which makes underwater surveys more efficient and less risky. In November 2022, Blue Ocean Seismic Services announced that it had finished a series of passive and active seismic trials on the autonomous ocean bottom seismic robotic vehicle technology, which proved the quality of seismic data collection. The company is expecting to start pre-commercial trials of its marine swarm robotic technology during the second half of the year 2023. In January 2023, Japan-based Kawasaki Heavy Industries, along with France-based TotalEnergies, completed its joint offshore verification test measuring the electrical potential of subsea pipelines using an AUV. This AUV, known as SPICE (Subsea Precise Inspector with Close Eyes) and developed by Kawasaki, is expected to be the first AUV with a robotic arm. It achieved stable pipe-tracking performance during its verification test in 2020. Despite the increase in alternative energy sources, the demand for oil and gas is increasing, and a higher number of deep-sea explorations are commissioned, leading to a rise in demand for autonomous systems to be developed for this purpose. For instance, in November 2021, the UK's National Oceanography Center (NOC) unveiled the new autonomous UUVs class vehicles as part of its Oceanids program. These submarines are expected to cater to offshore deep-sea operations while maintaining improved safety and cost-efficiency. The developments above and the increase in demand for AUVs in different civil sectors will result in the growth of the civil segment of the market during the forecast period.
Asia-Pacific is Expected to Register the Highest CAGR during the Forecast Period
One of the major contributing factors to the growth of the market in the Asia-Pacific region is the tension rising between the neighboring countries in the region. It resulted in the countries increasing their defense spending to upgrade their defense and military capabilities. China is demonstrating its dominance in the sea, and countries in the region found China-origin autonomous underwater vehicles in the ocean waters. It resulted in countries taking immediate steps to improve their unmanned underwater capabilities. In order to explore unmanned technologies and platforms in an extended way, in July 2021, the Indian Navy approved an 'unmanned road map.' It stated underwater domain awareness (UDA) is one of the critical areas for the country. Also, in April 2022, state-owned Mazagaon Dockyard Limited (MDL) announced its plans to develop Extra Large Unmanned Undersea Vehicles (XLUUVs) and issued an Expression of Interest (EOI) to global firms to collaborate with it. The Japanese government is planning to develop an AUV with the capacity to explore the seabed at a depth of up to 7000 m.
Other countries in the region are also developing their AUVs. For instance, in May 2022, defense technology company Anduril announced that it is in negotiations with the Australian Defence Force for a USD 100 million co-funded design, development, and manufacturing program for XL-AUVs for the Royal Australian Navy. This project is assumed to be an attempt to counter China's dominance in the Indo-Pacific region. The XL-AUV is said to be affordable, autonomous, long-endurance, and multi-mission capable. The project is expected to take 3 years. Countries investing in increasing their naval capabilities and collaborating with companies and governments to develop new AUVs and AUV technologies will result in the growth of the market in the Asia-Pacific region during the forecast period.
Autonomous Underwater Vehicles Industry Overview
The Autonomous Underwater Vehicles market is semi-consolidated, with the potential entry of new market players encouraged by the rapid growth the market witnessed in the last decade. Showing interest in the market as it grew in recent years. The key players in the market are General Dynamics Corporation, The Boeing Company, Exail Technologies, Lockheed Martin Corporation, and Teledyne Marine (Teledyne Technologies Inc.). In October 2022, the parent company of ECA Group, GROUPE GORGÉ, acquired iXblue and formed Exail by merging ECA Group and iXblue. This merger gave the company a stronger position in the market.
With the market growing, major companies are entering the market either by developing new autonomous underwater vehicles or by acquiring startups working on autonomous underwater vehicles. For instance, in February 2022, Anduril Technologies, a defense technology company, acquired Dive Technologies, a Boston-based startup working on AUVs. With the increase in demand, companies are working on developing more new AUVs according to the requirements of the customers. In November 2019, the Boeing Company was awarded a contract by the US Navy to develop four AUVs that are based on the design of the Echo Voyager. The contract was worth USD 43 million, and the AUV was named Orca XLUUV. The deliveries were initially scheduled in December 2020, but due to production delays, it is now expected to be finished in 2024.
Autonomous Underwater Vehicles Market Leaders
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Lockheed Martin Corporation
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The Boeing Company
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General Dynamics Corporation
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Teledyne Marine (Teledyne Technologies Inc.)
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Exail Technologies
*Disclaimer: Major Players sorted in no particular order
Autonomous Underwater Vehicles Market News
- July 2023: An AUV named Neerakshi, built by India-based Defence PSU Garden Reach Shipbuilders and Engineers (GRSE) Ltd in collaboration with MSME entity Aerospace Engineering Private Ltd (AEPL), was launched. It is a lightweight and man-portable AUV with a length of 2.15 m and an endurance of nearly 4 hours. It is designed to operate completely autonomously, and its modular design enables it to carry out a variety of roles depending on the payload. The development of this AUV is regarded as a major step towards indigenous capability development in keeping with India's Atmanirbharta policy.
- December 2022: The UK Royal Navy awarded a contract worth GBP 15.5 million (USD 18.86 million) to Marlin Submarines Ltd. to manufacture and supply autonomous underwater vehicles.
- November 2022: Exail Technologies (GROUPE GORGÉ) was awarded a contract worth USD 3.72 million by the French Defence Procurement Agency as part of the French Navy's seabed control strategy for an A18D autonomous underwater vehicle. According to the contract, the company will rent its AUV to the French Navy for 2 years to conduct different operations in the deep seabed. Along with this, the company will also provide academic and operational training to 12 French Navy Sailors.
- June 2022: US-based aquatic robotics company Jaia Robotics raised funding of more than USD 1 million. The company was founded in 2020 and is developing micro-sized, high-speed, autonomous underwater vehicles.
Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Application
- 5.1.1 Civil
- 5.1.1.1 Petroleum & Gas Exploration
- 5.1.1.2 Oceanography
- 5.1.2 Military
- 5.1.2.1 Search & Rescue
- 5.1.2.2 Minesweeping
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5.2 Propulsion System
- 5.2.1 Electrical
- 5.2.2 Mechanical
- 5.2.3 Hybrid
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.2 Europe
- 5.3.2.1 United Kingdom
- 5.3.2.2 Germany
- 5.3.2.3 France
- 5.3.2.4 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 India
- 5.3.3.3 Japan
- 5.3.3.4 South Korea
- 5.3.3.5 Rest of Asia-Pacific
- 5.3.4 Rest of the World
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
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6.2 Company Profiles
- 6.2.1 The Boeing Company
- 6.2.2 Exail Technologies
- 6.2.3 Lockheed Martin Corporation
- 6.2.4 General Dynamics Corporation
- 6.2.5 Teledyne Marine (Teledyne Technologies Inc.)
- 6.2.6 Huntington Ingalls Industries, Inc.
- 6.2.7 Anduril Industries, Inc.
- 6.2.8 Kongsberg Gruppen ASA
- 6.2.9 Mazagaon Dockyard Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityAutonomous Underwater Vehicles Industry Segmentation
An Autonomous Underwater Vehicle is an uncrewed underwater vehicle that operates on a pre-programmed function without any human intervention and no human on board.
The Autonomous Underwater Vehicles (AUVs) market is segmented by application, propulsion system, and geography. By application, the market is segmented into military and civil. By propulsion system, the market is segmented into electrical, mechanical, and hybrid. By geography, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the World. The report also covers the market sizes and forecasts in major countries across different regions. The market sizing and forecasts for each segment are represented based on value (USD).
| Application | Civil | Petroleum & Gas Exploration |
| Oceanography | ||
| Application | Military | Search & Rescue |
| Minesweeping | ||
| Propulsion System | Electrical | |
| Mechanical | ||
| Hybrid | ||
| Geography | North America | United States |
| Canada | ||
| Geography | Europe | United Kingdom |
| Germany | ||
| France | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Rest of the World |
Frequently Asked Questions
What is the current Autonomous Underwater Vehicles Market size?
The Autonomous Underwater Vehicles Market is projected to register a CAGR of 13.05% during the forecast period (2024-2029)
Who are the key players in Autonomous Underwater Vehicles Market?
Lockheed Martin Corporation, The Boeing Company, General Dynamics Corporation, Teledyne Marine (Teledyne Technologies Inc.) and Exail Technologies are the major companies operating in the Autonomous Underwater Vehicles Market.
Which is the fastest growing region in Autonomous Underwater Vehicles Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Autonomous Underwater Vehicles Market?
In 2024, the North America accounts for the largest market share in Autonomous Underwater Vehicles Market.
What years does this Autonomous Underwater Vehicles Market cover?
The report covers the Autonomous Underwater Vehicles Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Autonomous Underwater Vehicles Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Autonomous Underwater Vehicles Industry Report
Statistics for the 2024 Autonomous Underwater Vehicles market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Autonomous Underwater Vehicles analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
