Global Offshore Autonomous Underwater Vehicle(AUV) Market: Information by Type(Shallow, Medium and Large), Technology(Communication, Collision Avoidance, Navigation, Imaging and Propulsion), Payload(Sensors, Cameras, Synthetic Aperture Sonars and others), Application(Military & Defense; Oil & Gas; Oceanography; Environmental Protection and Monitoring; Archaeological and Exploration and Search and Salvage Operations) and Region(North America, Europe, Asia Pacific, Middle East and Africa and Latin America) – Forecast to-2024
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Market analysis
As far the analysis, Autonomous operated vehicles(AUV) are unmanned hidden automobiles that are operated without human involvement. The offshore autonomous underwater vehicle(AUV) bids numerous types of shallow, medium, and large. The Global Offshore Autonomous Underwater Vehicle(AUV) Market is probable to register a 15.70% CAGR during the forecast period. In this procedure, data is composed from several secondary foundations, counting annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate speeches, company websites, and paid records. In October 2018, General Dynamics Corporation unveiled the Bluefin-9 UUV at the Oceans 2018 conference and exposition in Charleston, South Carolina for defense, academic, and marketable use.
The launch of Bluefin-9 UUV helped the company upsurge its customer base worldwide. Besides, AUVs are fortified with technologies such as communication, crash prevention, navigation, imaging, and thrust. AUVs can carry numerous or permutations of payloads, plus sensors, cameras, and synthetic aperture sonars, among others. Separately from their large-scale application in the oil & gas industry, AUVs are also used in industries such as military & defense, oceanography, ecological protection & monitoring, archaeological & exploration, and search & salvage operations.
In this process, both the demand- and supply-side companies are interviewed to excerpt facts and insights into the market forecast, construction, trends, and projected market evolution. Industry stakeholders such as CEOs, VPs, managers, and marketing officials across the value chain are approached to acquire vital information. . In March 2019, ECA Group signed a 10-year bond worth USD 508.8 million(450 million Euros) with the Belgian fleet. As per the terms of the agreement, it will provide AUVs, towed sonars, and mine identification & devastation systems(MIDS) composed of ROV for the documentation and destruction of mines, and the unmanned surface vehicles. It aided improve the company’s financial place in the global offshore AUV market.
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Market segmentation
The Global Offshore Autonomous Underwater Vehicle(AUV) Market has been segmented by type, by Type: Shallow, Medium, and Large, by Technology: Communication, Collision Avoidance, Navigation, Imaging, and Propulsion, by Payload: Sensors, Cameras, Synthetic Aperture Sonars, and Others, by Application: Military & Defense; Oil & Gas; Oceanography; Environmental Protection and Monitoring; Archaeological and Exploration; and Search and Salvage Operations and by Region: North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. In February 2018, ECA Group unveiled its average-sized AUV, A18-M dedicated to aggressive underwater excavations. It is dense and equipped with a tall-quality imagery system planned specifically for mine stalking.
The exploration of oil & gas fields is now taking place at larger depths than ever before, making the service of humans unfeasible. Offshore AUVs are built to work in specific subsea applications such as domestic pipe inspection of non-piggable lines, channel voyage inspection, drilling, growth, and repair, and subsea line assessment. The rising demand for AUVs in the oil & gas industry and the increase in military expenditure are some of the significant drivers for the advancement of the global offshore autonomous underwater vehicle(AUV) market. In 2018, North America settled for 40.94% of the global offshore independent underwater vehicle(AUV) global market, followed by Europe, with around 21% of the global market share. Owing to the swelling demand for AUVs for mine detection, the launch of A18-M helped increasing its customer base globally.
Rising acceptance of offshore AUVs by numerous countries for oil & gas exploration is further pushing the growth of the segment. In March 2019, Saudi Arabian Oil Co. deployed 200 Spice Rack autonomous subsea seismic acquisition units to behavior a seismic ocean bottom survey in the Red Sea. Consequently, the advanced features offered by AUVs is driving their adoption by the oil & gas industry. Hence, the oil & gas piece is expected to catalogue an advanced CAGR of 15.90% during the estimated period.
Regional analysis
Geographically, the Global Offshore Autonomous Underwater Vehicle(AUV) Market is split in regions like North & Latin America, Europe, Asia-Pacific, Middle east and Africa and Rest of the world. Detailed analysis of a country-level market and related segments as per the report scope(subject to data availability. North America, Europe, Asia Pacific, Middle East and Africa, and Latin America are the main target markets. The report answers the following queries too: what was the historic market size(2018), which segmentation(Type/Technology/Payload/Application) is driving market growth, what will be the growth rate from 2019 to-2024, who are the key players in this market, and what are the strategies adopted by key players
Major players
The proposed spectators in the Global Offshore Autonomous Underwater Vehicle(AUV) Market are manufacturers, Retailers, distributors, wholesalers, Investors and trade experts, Governments, associations, industrial bodies, etc. The major companies functioning in the Global Offshore Autonomous Underwater Vehicle(AUV) Market are concentrating on firming their global ways by entering into untouched markets.
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The projected onlookers in the Global Offshore Autonomous Underwater Vehicle(AUV) Market are companies like Graal Tech SRL(Italy), Boston Engineering Corporation(US), ECA Group(France), Fugro(Netherlands), General Dynamics Corporation(US), International Submarine Engineering Limited(Canada), Lockheed Martin Corporation(US), Saab AB(Sweden), Teledyne Technologies Incorporated(US) and Kongsberg Maritime AS(Norway).
Market Report Contents:
1. Market Overview:
- Provides a general introduction to the market, encompassing its size, growth rate, and key characteristics.
- Includes information on market segmentation, such as by product type, application, or geography.
2. Industry Trends and Drivers:
- Examines the current trends, developments, and factors driving the growth or decline of the market.
- May include technological advancements, regulatory changes, consumer preferences, or economic factors that impact the industry.
3. Market Analysis:
- Offers a detailed analysis of the market’s dynamics, covering supply and demand factors, the competitive landscape, and market attractiveness.
- May include information on market share, market concentration, and competitive strategies of key players.
4. Market Segmentation:
- Divides the market into distinct segments based on criteria such as product type, application, end-user, or geography.
- Aids in identifying specific market opportunities and target audiences.
5. Market Size and Forecast:
- Presents the current market size and estimates future market growth over a specified period.
- Includes historical data, market projections, and growth rates for different segments.
6. Competitive Analysis:
- Assesses the competitive landscape of the market, including the profiles of major players, their market share, and strategies.
- May include SWOT analysis (strengths, weaknesses, opportunities, threats) of key competitors.
7. Market Opportunities and Challenges:
- Identifies potential growth opportunities and challenges in the market.
- Highlights emerging market segments, untapped regions, or technological advancements that can drive market expansion.
- Addresses barriers to entry, regulatory hurdles, or competitive threats.
8. Consumer Insights:
- Provides an understanding of consumer behavior, preferences, and buying patterns related to the market.
- May include survey data, consumer demographics, and customer feedback.
9. Future Outlook and Recommendations:
- Offers insights into the future prospects of the market and provides recommendations for businesses or stakeholders.
- May suggest strategies for market entry, product development, marketing, or investment decisions.
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