[Research Report] The autonomous underwater vehicle market is expected to grow from US$ 1.55 billion in 2022 to US$ 6.26 billion by 2030; it is estimated to grow at a CAGR of 19.1% from 2022 to 2030.
Analyst Perspective:
The autonomous underwater vehicle market has witnessed significant growth in recent years, driven by increasing acceptance of autonomous underwater vehicles for niche underwater applications such as surveying the subsea, assisting with scientific research, conducting military operations, and repairing oil & gas pipelines. AUVs consist of a robotic platform that operates underwater powered by batteries, and it has no contact with the outer surface. The AUVs are programmed to gather underwater environment data with their multiple sensors and systems.
AUVs are designed for hydrographic applications and acquiring higher resolution data using its towed and computer systems. AUV users produce accurate three-dimensional imaging geographical maps of the sea bed. They are able to gather optical camera photos and videos from the sea floor, which allows scientists to carry out specific research studies with a cost-effective platform. Rising technological advancements play a vital role in the autonomous underwater vehicle market growth. Rising adoption of artificial intelligence, the Internet of Things and machine learning for better connectivity to remote control and monitoring the subsea environment.
The military and defense industries are expected to have the largest share in 2022, owing to significant investment by several countries' government authorities. AUVs are used in anti-submarine warfare, mine countermeasures, surveillance, and force protection. AUVs are used to operate for longer durations without human interventions, including for several applications, including for the data collection of the oceanic territories. An emerging technology with underwater docking applications that helps to recharge and store additional data underwater. AUVs in many industries help to cross long distances across the ocean to provide surveillance of specific areas of the sea.
Market Overview:
Autonomous underwater vehicles are unmanned underwater vehicles designed to operate underwater without the requirement of any guidance and travel according to pre-programmed instructions. Autonomous underwater vehicles have a broad range of applications, including marine geoscience military operations, and are rapidly used for the military, scientific, and commercial sectors. AUVs have the ability to operate autonomously with host vessels well suited for the exploration of environments at the subsea level. They have revolutionized the ability to capture images with the seafloor for geological mapping using deep-water vessels.
The primary AUV applications include sub-marine hydrothermal studies, mapping & monitoring the low-temperature fluids, benthic mapping of the deep-water environments, and mapping of the subseafloor morphological features. Future technological developments in AUV technologies with the potential to study marine geoscience. These AUVs offer enhanced hovering for long endurance for extreme depths. Autonomous Underwater Vehicles are revolutionized with the ability to monitor and map marine environments. Marine underwater vehicles with autonomous systems have increased with a wide range of applications, including from military, marine protection, and defense industries. AUVs are used for the geohazard assessment of oil and gas exploration activities.
AUVs are capable of collecting sea profiling, marine mapping, and sea imaging with higher spatial resolutions. AUVs are used for navigational accuracy with their in-built towed instruments, such as side scan sonars and camera systems. AUVs are effectively used to bridge the gap between the spatial resolution with vessel-mounted and towed systems. The AUV function is used to navigate through the water without any assistance to perform the surveys and collect the data using the pre-programming.
Strategic Insights
Market Driver:
Increased Deep-Water Oils and Gas Exploration Activities to Drive Growth of Autonomous Underwater Vehicle Market
Autonomous underwater vehicles are the robotic platforms used to gather environmental data that provide bathymetric images to perform manipulation tasks. The AUVs are used to carry out subsea mapping and study the oil & gas exploration images in subsea. Oil and gas companies are more effectively and accurately able to explore and develop new offshore fields using the AUVs. Large-scale seafloor surveys, sea-bed mapping, and the detection of possible dangers in the cables and pipelines are done with AUVs. Several key players in the market are adopting the AUVs for oil and gas site mapping. For instance, C & C Technologies developed AUV for oil and gas exploration. This corporation specializes in technology solutions for mapping and surveying the global market. The company offers deep-water AUV capabilities for achieving the oil & gas surveys. The company served more than 62 clients globally and completed more than 180,000 kilometers of surveys using its AUVs. Oil and gas clients receive data from the AUV’s onboard processing and data collection system.
These AUVs are used for scientific, industrial and military purposes. Rising demand for renewable energy sources with rising political instabilities, climate change, and the increasing demand for fossil energy sources have created a massive demand for AUVs. It has created a massive demand for a wide range of applications, including for commercial uses, scientific research purposes, military operations, and subsea crash investigations. They are used for detailed mapping and surveying of the subseafloor for the oil & gas industries before subsea infrastructure building. The AUVs help in the installation of gas and oil pipelines under the subsea level cost-effectively without disruption to the environment. With the increasing emergence of technological developments, the AUVs are used for studying oceans, lakes, and ocean floors. AUVs enable comprehensive survey design freedom and offer the best images possible to minimize geological risk completely. Unparalleled efficiency is provided by autonomous underwater vehicles with tether less operation, and rapid and precise node placement is guaranteed by pre-programmed autonomous mission planning.
Segmental Analysis:
Based on type, the market is segmented into small, medium and large. Among these, the medium segment held the largest share in 2022, whereas the large AUVs segment is projected to grow with the highest CAGR in the market during the forecast period. AUVs have evolved as an emerging technology in the marine sector, with rising adoption in the military, commercial, and research applications. AUV demand is projected to expand with the highest CAGR throughout the forecast period, with positive growth in every industry owing to more use of the technologies. Based on the application, the market is divided into scientific research, military and defense, the oil & gas industry, and others. The military segment is anticipated to grow with the highest CAGR and contribute the largest share in 2022. In 2022, AUVs are used for a wide range of applications, including anti-submarine warfare, mine countermeasures, oceanography, search and rescue, and special military operations.
Regional Analysis:
North America is expected to have the largest share in 2022, owing to the rising development of advanced AUVs with increasing investment by oil and gas companies. In March 2020, Exxon Mobil Corporation awarded a contract to Ocean Infinity subsea marine robotics company for geophysical and geotechnical data acquisition using high-resolution autonomous underwater vehicles (AUVs) in offshore Guyana. ExxonMobil in Guyana uses AUVs to acquire data to help identify sea-bed conditions. Ocean Infinity deployed its AUVs in the deep water with a range of 230 to 7,054 feet and to survey around 1,197 square miles of area.
Europe is projected at a rapid pace owing to an increase in investment in renewable energies across France, Norway, Italy and Germany. The companies are developing and commercializing autonomous underwater vehicles to cater to the demand for oil and gas exploration activities. These oil and gas manufacturers have invested significantly in research and development activities with advanced features and improved designs of autonomous underwater vehicles.
(image)
Key Player Analysis:
The autonomous underwater vehicle market analysis consists of players such as Atlas Elektronik GmbH (ThyssenKrupp Technologies AG), Saab Group, Oceanserver Technology, Graal, Inc., Eca Group (Groupe Gorge), Fugro, International Submarine Engineering (ISE) Ltd., Teledyne Technologies, Kongsberg Gruppen, and Lockheed Martin Corporation are the top players owing to the diversified product portfolio offered.
Recent Developments:
The companies are adopting several strategies, such as making contracts with military officials, mergers and acquisitions and advancement in product development in the autonomous underwater vehicle market. A few recent key market developments are listed below:
- In July 2023, L3harris technologies Inc. partnered with the US Navy to develop and integrate docking applications using its AUVs that enabled the collection of data for submarine ventures. The autonomous underwater vehicle was launched to perform surveys in marine areas. The AUVs are used to return with required data with tactical and navigational planning and to deliver sub-sea mapping. The company developed Torpedo’s Tube Launching and Recovery solution for the homing and docking with the launch of the fully autonomous recovery AUVs.
- In June 2023, PXGEO marine and geophysical company ordered over 20 autonomous underwater vehicles (AUVs) from Saab Group. The order from the Saab Group’s Sabertooth autonomous underwater vehicle was valued at US$ 57.1 million. The order includes more than 20 Sabertooth vehicles.