Autonomous underwater vehicles (AUVs) can operate autonomously for a long duration performing sophisticated missions. AUV is a kind of an underwater submarine system that serves both civilian and military operations autonomously. AUVs are used in the oil and gas sector, mainly for inspection, maintenance, and repair; in the military for surveillance, anti-submarine warfare; and mine countermeasures; and, in scientific research for high-resolution seabed mapping and other oceanographic studies.
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Shallow water & small water Autonomous Underwater Vehicles (AUV) Market are typically used in commercial and scientific research sectors, while large AUVs are widely used in defense and deep water oil & gas explorations. The main difference between AUVs used in defense and the ones used in the commercial sector is the use of sensors and real-time processing units; the defense sector is ahead of the commercial sector with regards to processing real-time high resolution data in-mission and making a vehicle respond to it. Normally, large AUVs comprised diversity variety of sensors and real-time processing units with internal battery blocks and are designed for use in defense, deep water energy drilling, and scientific research (200 m to 6000 meter).
Autonomous Underwater Vehicles Market
The global AUV regional market is mainly led by North America, followed by Europe and Asia Pacific. While North America leads this market in terms of size, Asia-Pacific is projected to witness rapid growth during the forecast period. In the global AUV market, North America accounted for the largest share of 63% in 2014. The North American AUV market was valued at $102.6 million in 2014 and it is expected to grow at a CAGR of 14.14% from 2015 to 2020. This region is home to major AUV players such as Boston Engineering (U.S.), Bluefin Robotics (U.S.), Teledyne Technologies Inc. (U.S.), and OceanServer Technology, Inc. (U.S.).
The rising importance of AUVs in defense, maritime security, and research, growing energy needs, and rising investments into offshore oil & gas drilling are some of the significant growth drivers for the autonomous underwater vehicles (AUVs) market. However, stringent government regulations, high initial cost and investment in research and development are key factors that are restraining the growth of the AUV market.
