Autonomous Underwater Vehicles Market Size (2024 - 2029)

The Autonomous Underwater Vehicles market is experiencing significant growth, driven by increased military investments in naval capabilities and the need for enhanced surveillance and monitoring of naval borders, particularly in the context of global conflicts. Additionally, the demand for deep sea exploration for resources such as oil, gas, and minerals is contributing to the expansion of this market. The ability of AUVs to operate in challenging underwater environments while reducing risks to human life is attracting substantial interest and investment, further influencing the market's expansion.

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Market Size of Autonomous Underwater Vehicles Industry

Autonomous Underwater Vehicles Market Summary
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

Autonomous Underwater Vehicles Market 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 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
Military
Search & Rescue
Minesweeping
Propulsion System
Electrical
Mechanical
Hybrid
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
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Autonomous Underwater Vehicles Market Size Summary

The Autonomous Underwater Vehicles (AUV) market is experiencing significant growth, driven by increasing military investments and the need for advanced naval capabilities. The geopolitical tensions, particularly in regions like Asia-Pacific, have prompted countries to enhance their defense systems, leading to a surge in AUV deployments. The demand for AUVs is further fueled by the need for deep-sea exploration in the oil, gas, and mineral sectors, where these vehicles offer safer and more efficient solutions for underwater surveys and surveillance. The civil segment of the market is also expanding, with applications in oceanography, hydrology, and scientific exploration, as well as advancements in AUV technology, such as the development of robotic arms and swarm robotic systems.

The market is semi-consolidated, with major players like General Dynamics Corporation, The Boeing Company, and Lockheed Martin Corporation actively participating through acquisitions and technological advancements. Companies are focusing on developing new AUVs to meet the growing demand, as evidenced by collaborations and contracts in various countries. The market's growth is supported by strategic initiatives, such as India's indigenous AUV development and the UK's Royal Navy's procurement of AUVs. These developments highlight the increasing importance of AUVs in both military and civil applications, positioning the market for continued expansion in the coming years.

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Autonomous Underwater Vehicles Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Application

      1. 2.1.1 Civil

        1. 2.1.1.1 Petroleum & Gas Exploration

        2. 2.1.1.2 Oceanography

      2. 2.1.2 Military

        1. 2.1.2.1 Search & Rescue

        2. 2.1.2.2 Minesweeping

    2. 2.2 Propulsion System

      1. 2.2.1 Electrical

      2. 2.2.2 Mechanical

      3. 2.2.3 Hybrid

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 United Kingdom

        2. 2.3.2.2 Germany

        3. 2.3.2.3 France

        4. 2.3.2.4 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 India

        3. 2.3.3.3 Japan

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 Rest of the World

Autonomous Underwater Vehicles Market Size FAQs

The Autonomous Underwater Vehicles Market is projected to register a CAGR of 13.05% during the forecast period (2024-2029)

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.

Autonomous Underwater Vehicles Market Report Snapshots

Autonomous Underwater Vehicles Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)