Dan’s Biz Bookshelf: ‘In Defense of a Liberal Education’
American Made Advocacy: A Growing Presence in Washington in Turbulent Times
It’s Only Common Sense: How to Win Back Lost Customers
Large AUVs to Lead the Global Autonomous Underwater Vehicle Market
August 28, 2017 | PRNewswireEstimated reading time: 2 minutes
According to the new market research report "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", published by MarketsandMarkets , the said market is expected to grow from USD 362.5 Million in 2017 to USD 1,206.9 Million in 2023, at a CAGR of 22.20% during the forecast period. 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.
Large AUVs to lead the global autonomous underwater vehicle market between 2017 and 2023
Large AUVs held the largest share of the autonomous underwater vehicle market in 2016; the market for autonomous underwater vehicles is expected to grow at a high rate between 2017 and 2023. The capability of large AUVs to operate at great depths (more than 1,000 m) makes them suitable for oceanography, habitat research, search and salvage operations, and other applications. Apart from these, large autonomous underwater vehicles are widely adopted for mine countermeasure applications in the military & defense sector. These factors are contributing to the growth of the market for large AUVs.
Military & defense applications to hold the largest share of the AUV market in 2017
The market for military & defense applications is expected to witness a high growth between 2017 and 2023. Countries such as the US, Canada, France, and China are widely adopting autonomous underwater vehicles for military & defense applications, such as border security and surveillance, antisubmarine warfare, monitoring of smuggling of illegal goods, environmental assessment, and mine countermeasures. However, among all the applications, the market for archeological and exploration applications is expected to grow at the highest rate during the forecast period.
AUV market in APAC is to grow at the highest rate between 2017 and 2023
The AUV market in APAC is expected to grow at a high 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. North America is expected to hold the largest share of the autonomous underwater vehicle market in 2017. The increasing adoption of AUVs for military & defense applications in the US is driving the growth of the AUV market in North America.
The market is currently dominated by players such as Kongsberg Maritime (Norway), Teledyne Gavia ehf. (Iceland), Bluefin Robotics (US), ECA Group (France), and Saab AB (Sweden).
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Share on:
Testimonial
"The I-Connect007 team is outstanding—kind, responsive, and a true marketing partner. Their design team created fresh, eye-catching ads, and their editorial support polished our content to let our brand shine. Thank you all! "
Sweeney Ng - CEE PCBSuggested Items
Nordson Corporation Announces Earnings Release and Webcast for Third Quarter Fiscal Year 2025
07/31/2025 | Nordson CorporationNordson Corporation today announced it will release third quarter fiscal year 2025 earnings on August 20, 2025, after the close of the market.
SES AI Accelerates Timeline for Revenue Growth and Profitability with Acquisition of UZ Energy
07/31/2025 | BUSINESS WIRESES AI Corporation, a global leader in the development and manufacturing of AI-enhanced high-performance Li-Metal and Li-ion batteries, today announced it has executed a definitive agreement to acquire 100% of UZ Energy, an energy storage systems (“ESS”) provider, for a purchase price of approximately $25.5 million, subject to earnout adjustment based on the achievement of specified financial targets.
Dan’s Sales Guide: Master Your Sales Game in 2025 and Beyond
07/30/2025 | Dan Beaulieu, D.B. Management GroupIndustry veteran Dan Beaulieu has compiled more than 80 of his favorite sales tips and suggestions to help you create your own sales and marketing playbook. “I’ve been in this business for over 40 years, and I’ve seen companies spend hundreds of thousands of dollars on equipment, expand factories, rebrand multiple times, and hire consultants until the parking lot is full,” Dan says. But when it comes to time for companies to invest in something that will actually grow their revenue, Dan has found that their sales and marketing strategies aren’t as strong as they should be. However, there's a solution.
From Attraction to Action: Where Marketing Ends and Sales Begins
07/29/2025 | Brittany Martin, I-Connect007Before a PO hits the system, marketing has already done a lot of heavy lifting. Without strategic marketing, the PO might never arrive. At I-Connect007, we have been fortunate to help many companies achieve sales success through marketing. The key to success? Understanding how marketing leads to sales.
I-Connect007 Editor’s Choice: Five Must-Reads for the Week
07/25/2025 | Marcy LaRont, I-Connect007In industry news this past week, I’m putting a focus on sustainability in electronics by highlighting my interview with Kelly Scanlon and Corey Dehmey, and Nolan Johnson’s Meet the Author podcast with Beth Turner of MacDermid Alpha Electronics Solutions. I also chose to spotlight the M&A activity and outlook in the U.S. market and regional market news in India and Mexico.