Autonomous Underwater Vehicle Market to reach USD 17.71 billion by 2032 | SNS Insider

The growing demand for oceanographic research and offshore oil and gas exploration is a key driver of the Autonomous Underwater Vehicle (AUV) market.

AUSTIN, TX, UNITED STATES, December 16, 2024 /EINPresswire.com/ -- Market Size & Industry Insights

According to the SNS Insider Report,“The Autonomous Underwater Vehicle Market¹ size was valued at USD 3.12 billion in 2023 and is expected to reach USD 17.71 billion by 2032 and grow at a CAGR of 21.25% over the forecast period 2024-2032.”

Growing Demand and Government Investments Drive Expansion in the Autonomous Underwater Vehicle Market

The Autonomous Underwater Vehicle (AUV) market is witnessing significant growth, driven by increasing demand for efficient, cost-effective solutions in underwater exploration, surveillance, and data collection. AUVs are crucial for ocean floor mapping, environmental monitoring, geologic exploration, navigation safety, and shipwreck documentation. As part of President Biden’s "Investing in America" initiative, the U.S. Department of Commerce and the National Oceanic and Atmospheric Administration allocated USD 3.9 million to the Marine Technology Society, supporting ocean observation, forecasting, and data services. Additionally, the U.S. Navy is investing heavily in AUVs, with USD 3.9 billion earmarked for research and development in the FY 2025 budget to enhance naval capabilities. With the growing global reliance on marine resources, the AUV market is set to expand, focusing on more advanced, resilient systems.

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SWOT Analysis of Key Players as follows:
-Bae Systems
-Boeing
-Eca Group
-Graal Tech
-ECA GROUP
-Atlas Elektronik
-Bluefin Robotics
-Boston Engineering Corporation
-Fugro
-Hydromea
-International Submarine Engineering

Autonomous Underwater Vehicle (AUV) Market: Key Insights by Type, Payload, and Shape Driving Industry Growth

By Type

In 2023, large Autonomous Underwater Vehicles (AUVs) held over 35% of the market share, driven by their use in deep-water surveys and the oil and gas industry. Known for their endurance, advanced capabilities, and large payload capacity, these AUVs are essential for long-distance surveillance and underwater data collection in various sectors, including underwater exploration, defense, and commercial applications.

The shallow-type AUV segment is projected to grow at the highest CAGR from 2024 to 2032, driven by the rising demand for compact vehicles in naval missions, including surveillance and search-and-rescue operations. Furthermore, the medium-type AUV segment is expected to experience substantial growth, fueled by its increasing use in military operations and oil exploration activities.

By Payload Type

In 2023, the inertial navigation system (INS) segment led the Autonomous Underwater Vehicle (AUV) market, accounting for over 35% of the share, ensuring precise navigation by compensating for GPS limitations. From 2024 to 2032, the sensors segment is expected to grow rapidly, enhancing data collection and navigation through sonar systems and acoustic modems, driving demand for advanced AUV sensors.

By Shape

Torpedo Autonomous Underwater Vehicles (AUVs) led the market in 2023, capturing over 35% of the share and expected to grow rapidly through 2024-2032. Known for their robust design, these AUVs excel in navigating challenging underwater environments, covering distances up to 5,000 meters. Equipped with high-definition cameras, LED lighting, multibeam sonar, and acoustic profilers, Torpedo AUVs are highly versatile. Their hydrodynamic shape reduces drag, enhances speed, and boosts efficiency, making them globally favored for deep-water applications. Their durable structure ensures reliability in demanding conditions, solidifying their role in critical underwater operations across various industries.

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KEY MARKET SEGMENTS:

By Type
Shallow AUVs (up to 100 m)
Medium AUVs (up to 1,000m)
Large AUVs (>1,000m)

By Payload Type
Cameras
Sensors
Inertial Navigation System
Others

By Shape
Torpedo
Streamlined Rectangular Style
Laminar Flow Body
Multi-hull Vehicle

By Technology
Collision Avoidance
Navigation
Imaging
Communication
Propulsion

By Application
Scientific Research
Defense
Oil & Gas Industry

Regional Dynamics Driving the Autonomous Underwater Vehicle (AUV) Market Growth

In 2023, North America led the Autonomous Underwater Vehicle (AUV) market, capturing around 36% of the market share. This dominance is driven by significant defense budgets and investments in research and development to enhance naval capabilities. The U.S. Navy's adoption of advanced AUVs, such as the Remus 600, for intelligence, surveillance, reconnaissance (ISR), and search-and-rescue missions, has been a key contributor to this growth. The Remus 600, capable of operating at depths of up to 600 meters with a 24-hour battery life, showcases the region’s cutting-edge underwater technology.

The Asia Pacific region is expected to experience the highest CAGR from 2024 to 2032. This growth is fueled by increased military spending and a rising demand for AUVs in commercial sectors in countries like China, India, and Japan. Innovations such as China’s UUV-300 series highlight the region’s commitment to advancing autonomous underwater systems, further driving the market’s expansion.

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Recent Development

-May 7, 2024: BAE Systems showcased its Herne extra-large autonomous underwater vehicle (XLAUV) and T-650 heavy-lift unmanned aircraft system (UAS) for the first time in Asia at the Defence Services Asia (DSA) 2024 exhibition in Kuala Lumpur. A demonstration of the Herne XLAUV is scheduled for October 2024 in England.
-November 24, 2024: Boeing's XLUUV "Orca," an advanced autonomous submarine for the U.S. Navy, completed a critical milestone, showcasing its 6,500nm endurance and modular payload capabilities, marking a significant step in undersea warfare technology.
-March 5, 2024: Fugro secured a marine survey contract from INPEX Masela for an LNG project in Indonesia, involving geophysical and geotechnical surveys to support offshore production and CO2 injection infrastructure.

TABLE OF CONTENT - Key Points

Chapter 1. Introduction

Chapter 2. Executive Summary

Chapter 3. Research Methodology

Chapter 4. Market Dynamics Impact Analysis

Chapter 5. Statistical Insights and Trends Reporting

Chapter 6. Competitive Landscape

Chapter 7. Autonomous Underwater Vehicle Market Segmentation, by Type

Chapter 8. Autonomous Underwater Vehicle Market Segmentation, by Payload Type

Chapter 9. Autonomous Underwater Vehicle Market Segmentation, by Shape

Chapter 10. Autonomous Underwater Vehicle Market Segmentation, by Technology

Chapter 10. Autonomous Underwater Vehicle Market Segmentation, by Application

Chapter 13. Regional Analysis

Chapter 14. Company Profiles

Chapter 15. Use Cases and Best Practices

Chapter 16. Conclusion

Continued…

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¹ https://www.snsinsider.com/reports/autonomous-underwater-vehicle-auv-market-2050