Global Offshore AUV Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Offshore AUV Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

AUVs are often referred to as unmanned underwater vehicles. AUV can be used for underwater survey tasks, performing tasks that may pose dangers to commercial and recreational boat navigation such as detecting and mapping sunken ships, rocks and obstacles. The AUV can perform survey tasks without operator intervention. After the task is completed, the AUV will return to the pre-programmed location, where the data can be downloaded and processed.

Market Overview:

The latest research study on the global Offshore AUV market finds that the global Offshore AUV market reached a value of USD 1492.32 million in 2022. It’s expected that the market will achieve USD 3650.96 million by 2028, exhibiting a CAGR of 16.08% during the forecast period.

When the outbreak began, work was postponed and the normal production of the company was affected. For companies in areas where the epidemic is relatively mild and can start operations normally, even if they start operations at normal times, they will face insufficient supply of raw materials, resulting in lower than normal capacity utilization. The spread of epidemics caused by transportation will affect normal cargo transportation. According to data, the incubation period of the new coronavirus that caused this epidemic is about 7-14 days. In many countries, there are many cases of transmission in long-distance buses, trains, airplanes and other transportation vehicles. Therefore, there is a risk of virus spread due to long-distance transportation. Moreover, in terms of policies, areas with more severe epidemics have taken certain measures to control transportation.

In addition, the number of confirmed cases is still increasing. It has now exceeded 20,000,000, and there has not yet been a clear turning point. Many countries have restarted their economies under the pressure of the economic downturn. Considering the highly contagious nature of COVID-19, COVID-19 may break out for the second time at the end of this year. If it breaks out for the second time, the epidemic will increase corporate financial risks, or trigger corresponding default risks, financial risks, etc. However, because countries attach great importance to the development of AUV and regard it as an important military force. With the decreasing working efficiency, increasing conflicts between countries, and the increasing possibility of regional wars, the growth of the industry today is expected to slow down.

Strength

Relative high barrier of entry:

The industry is a capital-intensive industry and technology-intensive industry. The high product cost and the complexity of the manufacturing process form a relatively high industry threshold. High industry barriers eliminates outdated enterprises and hinder the entry of unqualified enterprises. This helps good companies develop and consolidate their market position by avoiding vicious price wars and effectively using resources to hire high-tech talents and achieve more effective market operations.

Weakness

High-tech threshold and large upfront investment:

The working environment of AUV is in different water regions. Underwater conditions are changeable, which poses a high challenge to the technical requirements of AUV. In addition, breaking through the technical threshold requires a large amount of capital investment. The AUV industry is a technology-intensive and capital-intensive. The manufacturing technology is highly intensive and requires a large amount of scientific research investment and sufficient talent reserves. Although the late-stage income is considerable, the high-tech threshold and a large amount of early-stage investment make investors take significant risks.

Region Overview:

From 2022-2027, North America is estimated to witness robust growth prospects.

Company Overview:

ECA Group is one of the major players operating in the Offshore AUV market, holding a share of 11.84% in 2022.

ECA Group

ECA Group is mainly involved in robotics, automation systems, simulation and industrial processes. Its products are mainly used in the fields of defense, maritime, aerospace, simulation, energy and industrial equipment.

International Submarine Engineering Limited

International Submarine Engineering Co., Ltd. ISE is a manufacturer and supplier in the design, production and integration of manned, remotely operated (ship) vehicles, autonomous underwater vehicles, semi-submersible vehicles, related underwater tools and ground robotic systems.

Segmentation Overview:

By type, Large AUVs (depth more than 1000 m) segment accounted for the largest share of market in 2021.

Application Overview:

By application, the Commercial segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Offshore AUV market covered in Chapter 3:

General Dynamics Corporation
Boston Engineering Corporation
ECA Group
Teledyne Technologies Incorporated
Kongsberg Maritime AS
Graal Tech SRL
Fugro
International Submarine Engineering Limited Lockheed Martin Corporation
Saab AB

In Chapter 4 and Chapter 14.2, on the basis of types, the Offshore AUV market from 2018 to 2029 is primarily split into:

Shallow AUV (depth up to 100 m)
Medium AUVs (depth up to 1000 m)
Large AUVs (depth more than 1000 m)

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Offshore AUV market from 2018 to 2029 covers:

Defense
Scientific Research
Commercial
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)