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.
New York, Nov. 16, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Autonomous Underwater Vehicle Market With Covid-19 Impact by Type, Application, Shape, Technology, Payload Type, Region - Global Forecast to 2026" - https://www.reportlinker.com/p05101835/?utm_source=GNW
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.
The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 - 40%, Tier 2 - 40%, and Tier 3 - 20%
• By Designation: C-level Executives - 40%, Director Level - 30%, and Others - 30%
• By Region: North America - 40%, Europe - 20%, APAC - 30%, and RoW - 10%
Autonomous underwater vehicle (AUV) market was dominated by Kongsberg (Norway), Teledyne Technologies (US), Fugro (Netherlands), Bluefin Robotics (General Dynamics) (US), and Saab AB (Sweden).
This research report categorizes Autonomous underwater vehicle (AUV) market by technology, type, shape, payload type, application, and geography. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the Autonomous underwater vehicle (AUV) market and forecasts the same till 2026.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the Autonomous underwater vehicle (AUV) market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes product launches and developments, collaborations and acquisitions.
4. This report would help understand the pre and post-COVID-19 scenarios as to how would the penetration of Autonomous underwater vehicle (AUV) will look like for the forecast period. The region segment includes the country wise impact analysis of COVID-19 and initiatives taken to overcome these impacts.
Read the full report: https://www.reportlinker.com/p05101835/?utm_source=GNW
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