Autonomous Underwater Vehicle Market by Type (Shallow, Medium, and Large AUVs), Technology (Navigation, Imaging), Payload (Cameras, Sensors, Echo Sounders), Application (Military & Defense, Archeological and Exploration), Region - Global Forecast to 2023

[163 Pages Report] The autonomous underwater vehicles (AUV) market is expected to grow from USD 309.2 Million in 2016 to USD 1,206.9 Million by 2023, at a CAGR of 22.20% during the forecast period. The objectives of the report includes forecast of the AUV market size, in terms of value and volume, for shallow, medium, and large AUVs. However, payloads have not been considered while forecasting the size of the market for these AUVs. Further, it studies the drivers of the AUV market, such as growing importance of more reliable security measures worldwide and increasing offshore oil & gas production. It also comprises detailed information about restraints, opportunities, and challenges for the AUV market. The study of the value chain pertaining to the AUV market is also one of the objectives of the report, which includes information about suppliers and integrators in the value chain of the AUV ecosystem.

Years considered for this report:

2016 – Base Year
2017 – Estimated Year
2023 – Projected Year
Forecast Period: 2017–2023

Major players in the AUV market across regions have been identified, and their offerings, distribution channels; regional presence have been studied through in-depth discussions. Also, average revenue generated by these companies from various regions has been used to arrive at the overall AUV market size. In the top-down approach, the overall market size has been used to estimate the size of the individual markets (mentioned in the market segmentation) through percentage splits from secondary and primary research. The entire procedure includes the study of annual and financial reports of top market players and extensive interviews of industry experts, such as CEOs, VPs, directors, and marketing executives, for key insights.

To know about the assumptions considered for the study, download the pdf brochure

The AUV market ecosystem comprises AUV manufacturers, such as Kongsberg Maritime (Norway), Teledyne Gavia ehf. (Iceland), Bluefin Robotics (US), ECA Group (France), Saab AB (Sweden), Fugro (Netherlands), ATLAS ELEKTRONIK GmbH (Germany), L3 OceanServer (US), Boston Engineering Corporation (US), Hydromea SA (Switzerland), and International Submarine Engineering Ltd. (Canada), which offer AUVs to end users. It also includes payload suppliers, such as EdgeTech (US), SONARDYNE INTERNATIONAL LTD. (UK), Rowe Technologies, Inc. (US), EvoLogics GmbH (Germany), and KRAKEN SONAR INC. (Canada).

Key Target Audience:

• Original equipment manufacturers (OEMs)
• OEM technology solution providers
• Research institutes
• Market research and consulting firms
• Forums, alliances, and associations
• Technology investors
• Governments and financial institutions
• Analysts and strategic business planners
• End users of AUVs

This study answers several questions for stakeholders, primarily which market segments to focus in the next 2 to 5 years for prioritizing their efforts and investments.

Report Scope:

In this report, the AUV market has been segmented into the following segments:

• Market, by Type:
  • Shallow AUVs (Depth up to 100 meters)
  • Medium AUVs (Depth up to 1,000 meters)
  • Large AUVs (Depth more than 1,000 meters)
• Market, by Technology:
  • Collision Avoidance
    • Sonars
  • Communication
  • Navigation
    • Compass-Based Navigation Solutions
    • Inertial Navigation Systems
  • Propulsion
    • Fin Control Actuators
    • Propulsion Motors
    • Pump Motors
    • Linear Electromechanical Actuators
  • Imaging
• AUV Payload Market, by Type:
  • Cameras
  • Sensors
  • Synthetic Aperture Sonars
  • Echo Sounders
  • Acoustic Doppler Current Profilers
  • Others
• Market, by Application:
  • Military & Defense
    • Border Security and Surveillance
    • Antisubmarine Warfare (ASW)
    • Monitoring Smuggling of Illegal Goods
    • Environmental Assessment
    • Mine Countermeasures (MCMs)
  • Oil & Gas
    • Pipeline Survey
    • Geophysical Survey
    • Debris/Clearance Survey
    • Baseline Environmental Assessment
  • Environmental Protection and Monitoring
    • Habitat Research
    • Water Sampling
    • Fishery Study
    • Emergency Response
  • Oceanography
  • Archeological and Exploration
  • Search and Salvage Operations
• Market, by Geography:
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • Rest of the World
    • South America
    • Middle East and Africa
• Competitive Landscape
• Company Profiles: Detailed analysis of the major companies operating in the AUV market.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according the company’s specific needs. The following customization options are available for the report:

Product Analysis

• Product matrix which gives a detailed comparison of product portfolio of each company.

Company Information

• Detailed analysis and profiling of additional market players (up to 5).

Get more insight on other verticals of Semiconductor and Electronics Market Research Reports & Consulting

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primaries
           2.1.3 Secondary and Primary Research
                    2.1.3.1 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 32)
    4.1 Attractive Market Opportunities in the AUV Market
    4.2 AUV Market, By Country
    4.3 AUV Market in North America, By Application vs Country
    4.4 AUV Market, By Application, vs Payload Mounted AUV Market, By Application
    4.5 AUV Market, By Payload

5 Market Overview (Page No. - 36)
    5.1 Introduction
    5.2 Market Evolution
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 AUVs Meeting Specifications for Carrying Out Active and Vigorous Research
                    5.3.1.2 Growing Importance of More Reliable Security Measures Worldwide
                    5.3.1.3 Increasing Demand for AUVs for Applications in Environmental Protection, and Military & Defense and Oil & Gas Sectors
           5.3.2 Restraints
                    5.3.2.1 High Costs of Operations
           5.3.3 Opportunities
                    5.3.3.1 Implementation of Advanced Technologies
           5.3.4 Challenges
                    5.3.4.1 Challenges Associated With Technical Accuracy and Communication Protocols
    5.4 Value Chain Analysis

6 Shapes of AUVs (Page No. - 42)
    6.1 Introduction
    6.2 Torpedo
    6.3 Laminar Flow Body
    6.4 Streamlined Rectangular Style
    6.5 Multihull Vehicle

7 AUV Market, By Technology (Page No. - 44)
    7.1 Introduction
    7.2 Collision Avoidance
           7.2.1 Sonar
    7.3 Communication
    7.4 Navigation
           7.4.1 Compass-Based Navigation Solution
           7.4.2 Inertial Navigation System
    7.5 Propulsion
           7.5.1 Fin Control Actuators
           7.5.2 Propulsion Motors
           7.5.3 Pump Motors
           7.5.4 Linear Electromechanical Actuators
    7.6 Imaging

8 AUV Market, By Type (Page No. - 55)
    8.1 Introduction
    8.2 Shallow AUVs (Depth Up to 100 M)
    8.3 Medium AUVs (Depth Up to 1,000 M)
    8.4 Large AUVs (Depth More Than 1,000 M)

9 AUV Market, By Payload (Page No. - 65)
    9.1 Introduction
    9.2 Cameras
    9.3 Sensors
    9.4 Synthetic Aperture Sonars
    9.5 Echo Sounders
    9.6 Acoustic Doppler Current Profilers (ADCPS)
    9.7 Others

10 AUV Market, By Application (Page No. - 72)
     10.1 Introduction
     10.2 Military & Defense
             10.2.1 Border Security and Surveillance
             10.2.2 Antisubmarine Warfare (ASW)
             10.2.3 Monitoring Smuggling of Illegal Goods
             10.2.4 Environmental Assessment
             10.2.5 Mine Countermeasures (MCMS)
     10.3 Oil & Gas
             10.3.1 Pipeline Survey
             10.3.2 Geophysical Survey
             10.3.3 Debris/Clearance Survey
             10.3.4 Baseline Environmental Assessment
     10.4 Environmental Protection and Monitoring
             10.4.1 Habitat Research
             10.4.2 Water Sampling
             10.4.3 Fishery Study
             10.4.4 Emergency Response
     10.5 Oceanography
     10.6 Archeological and Exploration
     10.7 Search and Salvage Operations

11 Geographic Analysis (Page No. - 96)
     11.1 Introduction
     11.2 North America
             11.2.1 US
                        11.2.1.1 Rules and Regulations for AUVs in the US
             11.2.2 Canada
             11.2.3 Mexico
     11.3 Europe
             11.3.1 UK
                        11.3.1.1 Rules and Regulatory Aspects in the UK
             11.3.2 Germany
             11.3.3 France
             11.3.4 Italy
             11.3.5 Spain
             11.3.6 Rest of Europe
     11.4 APAC
             11.4.1 China
             11.4.2 India
             11.4.3 Japan
             11.4.4 Rest of APAC
     11.5 RoW
             11.5.1 South America
             11.5.2 Middle East and Africa

12 Competitive Landscape (Page No. - 113)
     12.1 Overview
     12.2 Market Ranking Analysis: AUV Market, 2016
     12.3 Competitive Situations and Trends
             12.3.1 Contracts & Agreements
             12.3.2 Product Launches
             12.3.3 Acquisitions
             12.3.4 Partnerships & Collaborations
             12.3.5 Expansions

13 Company Profiles (Page No. - 121)
     13.1 Introduction
(Overview, Products Offered, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments.)*
     13.2 Kongsberg Maritime
     13.3 Teledyne Gavia EHF.
     13.4 Bluefin Robotics
     13.5 ECA Group
     13.6 Saab AB
     13.7 Lockheed Martin Corporation
     13.8 Fugro
     13.9 Atlas Elektronik GmbH
     13.10 Boston Engineering Corporation
     13.11 International Submarine Engineering (ISE) Ltd.
     13.12 Graal, Inc.
     13.13 Key Innovators

*Details on Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments, Key Relationships Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 155)
     14.1 Discussion Guide
     14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.3 Introducing RT: Real-Time Market Intelligence
     14.4 Available Customizations
     14.5 Related Reports
     14.6 Author Details

List of Tables (71 Tables)

Table 1 AUV Market, By Technology, 2015–2023 (USD Million)
Table 2 AUV Market for Collision Avoidance Technology, By Type, 2015–2023 (USD Million)
Table 3 AUV Market for Communication Technology, By Type, 2015–2023 (USD Million)
Table 4 Navigation Technology Market, By Type, 2015–2023 (USD Million)
Table 5 AUV Market for Navigation Technology, By Type, 2015–2023 (USD Million)
Table 6 Propulsion Technology Market, By Type, 2015–2023 (USD Million)
Table 7 AUV Market for Propulsion Technology, By Type, 2015–2023 (USD Million)
Table 8 AUV Market for Imaging Technology, By Type, 2015–2023 (USD Million)
Table 9 Features of Different Types of AUVs
Table 10 AUV Market, By Type, 2015–2023 (USD Million)
Table 11 AUV Market, By Type, 2015–2023 (Units)
Table 12 Shallow AUVs
Table 13 Market for Shallow AUVs, By Technology, 2015–2023 (USD Million)
Table 14 Market for Shallow AUVs, By Application, 2015–2023 (USD Million)
Table 15 Medium AUVs
Table 16 Market for Medium AUVs, By Technology, 2015–2023 (USD Million)
Table 17 Market for Medium AUVs, By Application, 2015–2023 (USD Million)
Table 18 Large AUVs
Table 19 Market for Large AUVs, By Technology, 2015–2023 (USD Million)
Table 20 Market for Large AUVs, By Application, 2015–2023 (USD Million)
Table 21 AUV Market, By Payload, 2015–2023 (USD Million)
Table 22 AUV Payload Market for Cameras, By Application, 2015–2023 (USD Million)
Table 23 AUV Payload Market for Sensors, By Application, 2015–2023 (USD Million)
Table 24 AUV Payload Market for Synthetic Aperture Sonars, By Application, 2015–2023 (USD Million)
Table 25 AUV Payload Market for Echo Sounders, By Application, 2015–2023 (USD Million)
Table 26 AUV Payload Market for ADCPS, By Application, 2015–2023 (USD Million)
Table 27 AUV Payload Market for Other Payloads, By Application, 2015–2023 (USD Million)
Table 28 AUV Market, By Application, 2015–2023 (USD Million)
Table 29 Payload-Mounted AUV Market, By Application, 2015–2023 (USD Million)
Table 30 Payload-Mounted AUV Market for Military & Defense Applications, By Region, 2015–2023 (USD Million)
Table 31 Payload-Mounted AUV Market for Military & Defense Applications in North America, By Country, 2015–2023 (USD Million)
Table 32 Payload-Mounted AUV Market for Military & Defense Application in Europe, By Country/Region, 2015–2023 (USD Million)
Table 33 Payload-Mounted AUV Market for Military & Defense Applications in APAC, By Country/Region, 2015–2023 (USD Million)
Table 34 Payload-Mounted AUV Market for Military & Defense Applications in RoW, By Region, 2015–2023 (USD Million)
Table 35 Payload-Mounted AUV Market for Oil & Gas Applications, By Region, 2015–2023 (USD Million)
Table 36 Payload-Mounted AUV Market for Oil & Gas Applications in North America, By Country, 2015–2023 (USD Million)
Table 37 Payload-Mounted AUV Market for Oil & Gas Applications in Europe, By Country/Region, 2015–2023 (USD Million)
Table 38 Payload-Mounted AUV Market for Oil & Gas Applications in APAC, By Country/Region, 2015–2023 (USD Million)
Table 39 Payload-Mounted AUV Market for Oil & Gas Applications in RoW, By Region, 2015–2023 (USD Million)
Table 40 Payload-Mounted AUV Market for Environmental Protection and Monitoring Applications, By Region, 2015–2023 (USD Million)
Table 41 Payload-Mounted AUV Market for Environmental Protection and Monitoring Applications in North America, By Country, 2015–2023 (USD Million)
Table 42 Payload-Mounted AUV Market for Environmental Protection and Monitoring Applications in Europe, By Country/Region, 2015–2023 (USD Million)
Table 43 Payload-Mounted AUV Market for Environmental Protection and Monitoring Applications in APAC, By Country/Region, 2015–2023 (USD Million)
Table 44 Payload-Mounted AUV Market for Environmental Protection and Monitoring Applications in RoW, By Region, 2015–2023 (USD Million)
Table 45 Payload-Mounted AUV Market for Oceanography, By Region, 2015–2023 (USD Million)
Table 46 Payload-Mounted AUV Market for Oceanography Application in North America, By Country, 2015–2023 (USD Million)
Table 47 Payload-Mounted AUV Market for Oceanography in Europe, By Country/Region, 2015–2023 (USD Million)
Table 48 Payload-Mounted AUV Market for Oceanography in APAC, By Country/Region, 2015–2023 (USD Million)
Table 49 Payload-Mounted AUV Market for Oceanography in RoW, By Region, 2015–2023 (USD Million)
Table 50 Payload-Mounted AUV Market for Archeological and Exploration Applications, By Region, 2015–2023 (USD Million)
Table 51 Payload-Mounted AUV Market for Archeological and Exploration Applications in North America, By Country, 2015–2023 (USD Million)
Table 52 Payload-Mounted AUV Market for Archeological and Exploration Applications in Europe, By Country/Region, 2015–2023 (USD Million)
Table 53 Payload-Mounted AUV Market for Archeological and Exploration Applications in APAC, By Country/Region, 2015–2023 (USD Million)
Table 54 Payload-Mounted AUV Market for Archeological and Exploration Applications in RoW, By Region, 2015–2023 (USD Million)
Table 55 Payload-Mounted AUV Market for Search and Salvage Operations, By Region, 2015–2023 (USD Million)
Table 56 Payload Mounted AUV Market for Search and Salvage Operations in North America, By Country, 2015–2023 (USD Million)
Table 57 Payload-Mounted AUV Market for Search and Salvage Operations in Europe, By Country/Region, 2015–2023 (USD Million)
Table 58 Payload-Mounted AUV Market for Search and Salvage Operations in APAC, By Country/Region, 2015–2023 (USD Million)
Table 59 Payload-Mounted AUV Market for Search and Salvage Operations in RoW, By Region, 2015–2023 (USD Million)
Table 60 AUV Market, By Region, 2015–2023 (USD Million)
Table 61 Payload-Mounted AUV Market, By Region, 2015–2023 (USD Million)
Table 62 Payload-Mounted AUV Market in North America, By Country, 2015–2023 (USD Million)
Table 63 Payload-Mounted AUV Market in Europe, By Country/Region, 2015–2023 (USD Million)
Table 64 Payload-Mounted AUV Market in APAC, By Country/Region, 2015–2023 (USD Million)
Table 65 Payload-Mounted AUV Market in RoW, By Region, 2015–2023 (USD Million)
Table 66 Market Ranking of the Top 5 Players in the AUV Market, 2016
Table 67 Contracts & Agreements, 2014–2017
Table 68 Product Launches, 2015–2017
Table 69 Acquisitions, 2014–2016
Table 70 Partnerships & Collaborations, 2014–2017
Table 71 Expansions, 2014–2016

List of Figures (51 Figures)

Figure 1 Segmentation of the AUV Market
Figure 2 Autonomous Underwater Vehicle (AUV) Market: Research Design
Figure 3 AUV Market: Bottom-Up Approach
Figure 4 AUV Market: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 AUV Market for Imaging Technology to Grow at the Highest CAGR During the Forecast Period
Figure 7 Large AUVs to Lead the AUV Market During the Forecast Period
Figure 8 Cameras to Account for the Largest Size of the Payload Market in 2017
Figure 9 North America to Hold the Largest Share of the AUV Market in 2017
Figure 10 AUV Market for Archeological and Exploration Applications to Grow at the Highest CAGR During the Forecast Period
Figure 11 Growing Importance of More Reliable Security Measures Worldwide to Boost the Demand for Autonomous Underwater Vehicles During the Forecast Period
Figure 12 US to Hold A Major Share of the AUV Market in North America in 2017
Figure 13 Military & Defense Applications to Hold the Largest Share of the AUV Market in North America in 2017
Figure 14 Military & Defense Applications to Hold the Largest Share of the AUV and Payload-Mounted AUV Markets in 2017
Figure 15 AUV Payload Market for Sensors to Grow at the Highest CAGR During the Forecast Period
Figure 16 Evolution and History of AUVs
Figure 17 Drivers, Restraints, Opportunities, Challenges
Figure 18 AUV Value Chain Analysis: Research & Development and Manufacturing Phases Contribute Maximum Value
Figure 19 Exhibit of Torpedo-Shaped AUV
Figure 20 Exhibit of Laminar Flow Body
Figure 21 Fundamental Characteristics of an AUV
Figure 22 Market for Imaging Technology to Grow at Highest CAGR During the Forecast Period
Figure 23 Large AUVs to Lead the AUV Market for Collision Avoidance Technology During the Forecast Period
Figure 24 Large AUVs to Lead the AUV Market for Communication Technology During the Forecast Period
Figure 25 Large AUVs to Lead the AUV Market for Navigation Technology During the Forecast Period
Figure 26 Market for Fin Control Actuators to Grow at the Highest CAGR During the Forecast Period
Figure 27 Large AUVs to Lead the AUV Market for Imaging Technology During the Forecast Period
Figure 28 Classification of AUVs on the Basis of Depth
Figure 29 Large AUVs to Lead the AUV Market During Forecast Period
Figure 30 Market for Archeological and Exploration Applications to Grow at the Highest CAGR During the Forecast Period
Figure 31 Payload Market for Sensors to Grow at the Highest CAGR During the Forecast Period
Figure 32 Payload-Mounted AUV Market for Archeological and Exploration Applications to Grow at the Highest CAGR During the Forecast Period
Figure 33 Payload-Mounted AUV Market for Military & Defense Applications in APAC to Grow at the Highest CAGR During the Forecast Period
Figure 34 Payload-Mounted AUV Market for Oil & Gas Applications in APAC to Grow at the Highest CAGR During the Forecast Period
Figure 35 US to Hold the Largest Size of the Payload-Mounted AUV Market for Environmental Protection and Monitoring Applications in North America in 2017
Figure 36 Payload-Mounted AUV Market for Oceanography in India to Grow at the Highest Rate During the Forecast Period
Figure 37 North America to Hold Largest Size of the Payload-Mounted AUV Market for Search and Salvage Operations in 2017
Figure 38 AUV Market in APAC to Grow at Highest CAGR During the Forecast Period
Figure 39 North America to Hold Largest Size of the Payload-Mounted AUV Market in 2017
Figure 40 AUV Market Snapshot: North America
Figure 41 AUV Market Snapshot: Europe
Figure 42 AUV Market Snapshot: Europe
Figure 43 Key Developments in the AUV Market (2015–2017)
Figure 44 AUV Market Witnessed A Significant Growth Between 2014 and 2017
Figure 45 Contracts & Agreements Emerged as Key Growth Strategy Adopted By Market Players Between 2014 and 2017
Figure 46 Geographic Revenue Mix of Major Market Players
Figure 47 Kongsberg Maritime: Company Snapshot
Figure 48 ECA Group: Company Snapshot
Figure 49 Saab AB: Company Snapshot
Figure 50 Lockheed Martin Corp.: Company Snapshot
Figure 51 Fugro: Company Snapshot

The market for autonomous underwater vehicle (AUV) is expected to grow from USD 362.5 Million in 2017 to USD 1,206.9 Million by 2023, at a CAGR of 22.20% between 2017 and 2023. The growth of this market can be attributed to factors such as the growing importance of more reliable security measures worldwide and the increasing offshore oil & gas production.

Among all applications, the autonomous underwater vehicle market for archeological and exploration applications is expected to grow at the highest rate between 2017 and 2023. AUVs are widely used as an important tool for underwater exploration activities to extract minerals such as cobalt, zinc, and magnesium; these minerals are used in the fabrication of smartphones, laptops, and hybrid cars, among others. However, military & defense applications are expected to hold the largest share of the autonomous underwater vehicle market in 2017.

The market for large AUVs is expected to grow at a high rate between 2017 and 2023. Large AUVs can operate at a depth of more than 1,000 meters and are widely used for hydrographic exploration, deep ocean search, and deep water surveys. The AUVs intended for exploration activities in deep waters are specifically used for deep water mapping and surveying applications, including pipe surveys for the oil & gas sector. There is a growing demand for new energy sources worldwide, which can be met with the help of large AUVs as this type of AUVs can reach great depths underwater.

Navigation technology held a major share of the AUV market in 2016. As navigation information, such as the location of an autonomous underwater vehicle, is essential for the safe operation and recovery of an autonomous underwater vehicle, this technology is critical for achieving an accurate mission completion. However, among all the technologies, the AUV market for imaging technology is expected to grow at the highest rate between 2017 and 2023.

Among all the payloads that can be mounted on an AUV, cameras held the largest share of the AUV payload market in 2016. However, the market for sensors is expected to grow at the highest rate between 2017 and 2023. The growth of the market for sensors can be attributed to the increasing adoption of sensors in scanning, detecting, mapping, and remote sensing applications.

North America held the largest share of the autonomous underwater vehicle market in 2016. The increasing adoption of AUVs for military & defense applications in the US is driving the growth of the AUV market in North America. However, among all regions, the AUV market in APAC is expected to grow at the highest rate between 2017 and 2023. The rising need for energy, along with the high GDP growth rate, in developing countries in APAC, such as China and India, is creating huge opportunities for manufacturers of AUVs in this region.

Though the demand for AUVs has been increasing rapidly in almost all sectors, there are a few restrictions imposed by the governments and defense authorities in various countries, such as the US, on using AUVs. Some of these international, federal, state, and local authorities include the Environmental Protection Agency, the Federal Trade Commission, and the US Department of State and Defense Regulations. In addition, the high operation costs of AUVs are limiting the growth of the market.

Kongsberg Maritime has a well-established portfolio of AUVs. The company, with the help of its subsidiaries, has been successfully meeting the need of its customers in Europe, the Americas, and APAC. The company focuses on consistently improving the efficiency and productivity of its products. Kongsberg Maritime invests significantly in the development of cost-effective products and system solutions. The company intends to establish a strong position in all the segments of the AUV market and develop a portfolio of after-market activities and services. The company’s strong R&D capabilities have helped it sustain its leading position in the growing AUV market. However, the company witnessed a decrease of 74.80% in its earnings before interest, tax, depreciation and amortization (EBITDA) in 2016 compared with that in 2015 due to restructuring costs, significant impairments of inventories, currency hedging, and other project-related activities, such as relocation and reinstating. The company and its subsidiaries adopted product launches as their key business strategy in 2016. For example, in March 2016, Hydroid, Inc. (US), a subsidiary of Konsberg Gruppen ASA, launched the new-generation REMUS 100 AUV/marine robot.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst