The autonomous underwater vehicle (AUV) market was valued at USD 1.6 billion in 2022 and is projected to reach USD 4.9 billion by 2028, growing at a CAGR of 22.4% during the forecast period from 2023 to 2028. Increasing capital expenditure in the offshore oil & gas industry is one of the primary drivers of market growth.
Some prominent autonomous underwater vehicle industry players have predominantly used acquisition and partnership tactics to strengthen their market position.
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Kongsberg Group ASA (Norway) and Teledyne Technologies Incorporated (US) are among the top 5 players in the autonomous underwater vehicle (AUV) market.
Kongsberg Group ASA is a Norwegian technology company that offers marine technology-based navigation and automation systems for merchant vessels and the offshore industry. It operates through three business segments— defense & aerospace, maritime, and other activities.
The company offers Its autonomous underwater vehicles (AUVs), sonar seabed survey equipment, marine technology handling systems, and underwater acoustic products under its maritime segment.
The company offers a wide range of autonomous underwater vehicles such as Seaglider, HUGIN, MUNIN, REMUS 100, REMUS 6000, and REMUS 600 for a number of applications, such as environmental monitoring, offshore (oil & gas), search and recovery, and hydrography. The company also offers other AUV-related products, such as launch and recovery systems, multibeam echo sounders, underwater altimeters, single-beam scanning sonars, and other underwater vehicle instruments. In addition, the company offers NavLab, a generic simulation and post-processing navigation software, in the autonomous underwater vehicle (AUV) market.
A few notable of the subsidiaries of Kongsberg operating in the AUVs market space include Kongsberg Evotec AS (Norway), Kongsberg Maritime Controls GmbH (Germany), Kongsberg GeoAcoustics Ltd. (UK), and Kongsberg Mesotech Ltd. (Canada).
Teledyne Technologies Incorporated is a global conglomerate that offers its products in four business segments: Digital Imaging, Instrumentation, Aerospace & Defense Electronics, and Engineered Systems.
Teledyne Marine is a subsidiary business unit or division within Teledyne Technologies Incorporated that specializes in providing solutions and technology for the marine industry. It falls under the Instrumentation segment.
Teledyne Marine focuses on delivering advanced technology and systems for various marine applications, such as oceanographic research, hydrography, offshore energy, underwater exploration, and defense. Their product portfolio includes a wide range of instruments, sensors, sonar systems, underwater vehicles, remotely operated vehicles (ROVs), autonomous underwater vehicles (AUVs), and integrated systems for marine data collection and analysis.
As a division of Teledyne Technologies, Teledyne Marine benefits from the larger corporation's resources, expertise, and global presence. It leverages Teledyne Technologies' broad technological capabilities and synergies with other divisions to provide comprehensive solutions to customers in the marine industry.
Autonomous Underwater Vehicle (AUV) Market by Shape (Torpedo, Laminar Flow Body, Streamlined Rectangular Style, Multi-hull Vehicle), Type (Shallow, Medium, & Large AUVs), Technology (Imaging, Navigation, Propulsion), Payload – Global Forecast to 2028
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