The Autonomous underwater vehicle (AUV) market is estimated to be valued at USD 1.5 billion in 2021 and reach USD 4.3 billion by 2026, at a CAGR of 23.1%. 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. However, high operational costs of AUVs are expected to restraint market growth.
In 2020, the Autonomous underwater vehicle (AUV) market was dominated by Kongsberg (Norway), Teledyne Technologies (US), Fugro (Netherlands), Bluefin Robotics (General Dynamics) (US), and Saab AB (Sweden). The major strategies adopted by the top 5 players in the Autonomous underwater vehicle (AUV) market included product launches and developments, collaborations, and acquisitions which helped them to innovate on their product offerings and broaden their customer base.
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Top 2 players in the Autonomous underwater vehicle (AUV) are:
Kongsberg group was founded in 1814 and is one of the major providers of marine technology-based navigation and automation systems for merchant vessels and the offshore industry. The company provides its products and solutions to various industries, including oil & gas, marine, and aerospace & defense. Under the subsea product category, the company offers AUVs, marine technology handling systems, sonar seabed survey equipment, and underwater acoustic products.
The company offers its AUV products & services for various applications, such as offshore (oil & gas), environmental monitoring, hydrography, and search and recovery. Kongsberg Maritime offers a wide range of AUVs, including HUGIN, Seaglider, MUNIN, REMUS 100, REMUS 6000, and REMUS 600, for the above-mentioned applications. 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 such underwater vehicle instruments. In addition, the company offers NavLab, a generic simulation and post-processing navigation software, in the AUV market.
Teledyne Technologies (US)
Teledyne Technologies was founded in 1960 and has its headquarters in California, US. The company operates through the Instrumentation, Aerospace and Defense Electronics, Digital Imaging, and Engineered Systems segments. As of January 2020, the company employs 10,670 people. Teledyne Gavia ehf, a subsidiary of Teledyne Technologies, is a developer of novel underwater technologies. Teledyne Gavia offers turnkey survey solutions for military, commercial, and scientific applications. The company is the only owner of the Gavia design and IP rights. It also controls the development, production, and marketing of the Gavia system.
The Gavia AUV was founded in 1997 when the Gavia program was started as a joint development with the University of Iceland and acquired by Teledyne Technologies in 2010. Teledyne Gavia is now a member of Teledyne Marine in the Teledyne Marine Vehicles technology vertical.
The company operates in different market segments, such as aquaculture/fisheries, defense, energy, oceanography, security, hydrography/navigation, water resources, civil engineering, and oil & gas.
Autonomous Underwater Vehicle (AUV) Market With Covid-19 Impact by Type (Shallow Auvs, Medium Auvs, Large Auvs), Application (Military & Defense, Oil & Gas), Shape, Technology, Payload Type, Region - Global Forecast to 2026
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