Autonomous Underwater Vehicle (AUV) Market is estimated to reach USD 4.3 billion by 2026, at a CAGR of 23.1% | Kongsberg (Norway), Teledyne Technologies (US), Fugro (Netherlands), Bluefin Robotics (General Dynamics) (US), and Saab AB (Sweden).

Autonomous Underwater Vehicle (AUV) Market With Covid-19 Impact by Type (Shallow Auvs, Medium Auvs, Large Auvs), Application (Military & Defense, Oil & Gas), Shape, Technology, Payload Type, Region - Global Forecast to 2026

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Autonomous underwater vehicle (AUV) market was dominated by Kongsberg (Norway), Teledyne Technologies (US), Fugro (Netherlands), Bluefin Robotics (General Dynamics) (US), and Saab AB (Sweden).

“Autonomous underwater vehicle (AUV) market projected to grow at 23.1% CAGR during the forecast period”

The Autonomous underwater vehicle (AUV) market is estimated to be valued at USD 1.5 billion in 2021 and reach USD 4.3 billion by 2026, at a CAGR of 23.1% between 2021 and 2026. The Increasing capital expenditure of companies in offshore oil & gas industry, and rising defense spending in several countries worldwide are the key factors driving the growth of the market. Likewise, Development and incorporation of advanced technologies in AUVs are expected to create lucrative opportunities for the players in the Autonomous underwater vehicle (AUV) market. However, high operational costs of AUVs are expected to restraint market growth.

Imaging segment will have highest growth in coming years

Imaging segment is expected to account the largest share of the overall Autonomous underwater vehicle (AUV) market by 2026. The imaging segment of the market is projected to grow at the highest CAGR during the forecast period. The imaging systems used in AUVs are capable of capturing pictures of the seabed and surrounding areas, which help researchers in oceanography or habitat research studies. Advancements in imaging technologies are expected to lead to increased use of AUVs in the oil & gas industry to carry out inspection activities. They are also used in the military & defense sector to carry out search operations

Large AUVs segment is expected to hold the largest share in 2026

Increased demand for large AUVs in military & defense, oil & gas exploration, oceanography, search & salvage operations, and habitat research applications is fueling the growth of this market segment. The capability of large AUVs to operate at great depths (more than 1,000 m) makes them suitable for oceanography, habitat research, and search & salvage operations.

APAC is attributed to grow at the highest CAGR in overall Autonomous underwater vehicle (AUV) market during the forecast period (2021-2026)

APAC is expected to grow at the highest CAGR in the overall Autonomous underwater vehicle (AUV) market The rising need for energy, along with the high GDP growth rate, in developing APAC countries, is creating huge opportunities for the manufacturers of AUVs in this region. Countries such as China, Japan, and India are now exploring the Indian Ocean for oceanographic research. The rising defense activities, including security and ASW, in these countries, are also contributing to the growth of the AUV market in APAC.

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