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Autonomous Underwater Vehicle (AUV) Market Trends

Report ID: GMI2279
Published Date: May 2024
Report Format: PDF

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Autonomous Underwater Vehicle Market Trends

The AUV industry is growing owing to some leading trends, such as navy and military programs that work on expanding their in-service assets by acquiring more competent underwater systems. Moreover, with increasing globalization and advancing fleets of the navy, they tend to modernize and therefore, demand AUVs that have higher capabilities. Research and development in the military/naval fields mainly focus on the upgradation of AUVs to help improve several features such as endurance, sensor capabilities, mine countermeasures, underwater surveillance, submarine warfare, etc.

These approaches help encourage creativity in the AUV technology and also lead to cost reduction through economic development. Due to these factors, technology is improving and the AUVs have become highly efficient and capable vehicles that can fulfill the modern needs of naval operations.

For instance, in May 2024, Northrop Grumman's prototype unmanned underwater vehicle completed a crucial series of tests announced by the Defense Advanced Research Projects Agency. This milestone marked a significant achievement in DARPA's Manta Ray program, initiated in 2020 to advance technologies for a new category of autonomous Underwater Unmanned Vehicles (UUVs).

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of autonomous underwater vehicle reached USD 1.9 billion in 2023 and is set to witness 14% CAGR from 2024 to 2032, owing to the increase in reconnaissance and mine detection operations.

The acoustic doppler current profilers payload segment recorded 34% revenue share in 2023, owing to their ability to provide vital information on sea level and water velocity data.

The military & defense segment in the autonomous underwater vehicle industry accounted for 39% share in 2023 and is estimated to witness substantial gains between 2024 and 2032, as they are critical for performing naval operations, including anti-missile systems, submarine surveillance, and anti-submarine warfare.

North America market held over 39% share in 2023 and is estimated to expand at noticeable rate through 2032, due to its extensive the extensive maritime activities and defense investments in the region.