Latest News- Autonomous Underwater Vehicle (AUV) Market: Communication is expected to lead the Technology segment during 2024-2028

The Autonomous Underwater Vehicle (AUV) Market is being driven by Increasing investment in maritime surveillance capabilities

The Autonomous Underwater Vehicle (AUV) Market is expected to grow at a CAGR of 21.36% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3187.1 million. In the autonomous underwater vehicle (AUV) market, there is a growing trend towards integrating artificial intelligence (AI) for enhanced navigation operations. Companies such as Kongsberg Gruppen ASA with their HUGIN Edge AUV, are already utilizing AI technology. Furthermore, strategic collaborations between industry players and research institutions, like Fugro NV and National Robotarium, are driving innovation in high-speed autonomous underwater navigation through the application of robotics and AI. These advancements underscore the industry's commitment to improving AUV functionality and efficiency. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Technology
  • Communication
  • Collision avoidance
  • Navigation
  • Propulsion
  • Imaging
• Application
  • Military and defense
  • Oil and gas
  • Environment protection and monitoring
  • Oceanography
  • Others
• Geography
  • North America
    • US
  • Europe
    • Germany
    • France
    • Norway
  • APAC
    • China
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing investment in maritime surveillance capabilities
• Growing demand for oceanography research
• Growing offshore oil and gas exploration projects

However, the market also witnesses some limitations, which are as follows:

• High cost of development of autonomous underwater vehicles
• Limited battery lifespan of autonomous underwater vehicles
• Increasing focus on remote underwater vehicles

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Market Scope in Autonomous Underwater Vehicle (AUV) Market Research Report

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Research Analysis Overview

Autonomous Underwater Vehicles (AUVs), also known as underwater robots or drones, are a significant advancement in underwater robotics and marine engineering. These machines employ AI, machine learning, computer vision, and advanced navigation algorithms for path planning and sensor networks. They are utilized in oceanographic research, marine biology, conservation, environmental science, coastal engineering, and marine engineering. Applications include data visualization, big data analytics, cloud computing, underwater networks, and connectivity. Renewable energy sources like underwater power grids and energy harvesting are integrated for power. Sensors and modeling enable underwater acoustic telemetry, positioning, imaging, communication, and data collection/management/sharing.

Market Research Overview

The Autonomous Underwater Vehicle (AUV) market encompasses businesses specializing in autonomous navigation technology, underwater mapping, subsea survey, remote sensing, acoustic imaging, hydrographic data collection, environmental monitoring, pipeline inspection, and scientific research. This sector caters to industries such as oil and gas, renewable energy, defense, and research organizations. The market size is determined by the collective revenue generated by these entities, as calculated by Technavio, a leading global technology research and consulting firm.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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