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AUV Market in Archeological & Exploration Segment is Projected to Grow Steadily by 2024

Author : Ronak Bora | Published Date : 2019-04-10 

The qualitative research study introduced by Global Market Insights, Inc. on AUV Market Report provides primary Data, surveys, Scope of the Product and vendor briefings. The market dynamic forces have been determined after conducting a detailed study of the industry.

Based on the applications, the AUV market can be segmented into military & defense, oil & gas, environmental protection & monitoring, oceanography, archeological & exploration, and search & salvage operations. The archeological & exploration segment is anticipated to grow steadily owing to the use of vehicles in underwater exploration activities, which include the extraction of minerals such as magnesium, zinc, and cobalt.

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These minerals are being used in the fabrication of hybrid cars, laptops, and smartphones, which are driving the AUV market growth. In addition, the vehicles are being used in oceanography applications to map obstructions, rock formations, and submerged wrecks for usage in security applications.

Autonomous underwater vehicles aid scientists & researchers in habitat & oceanography studies owing to their ability to capture images of the seabed and the neighboring habitat with the usage of imaging systems. These systems provide precise information, such as size and color of the area under consideration, which is a crucial factor driving the AUV market growth. Several companies provide real-time & fast data transmission and high-standard hydrographic surveys for the research and exploration activities.

The AUV market can be segmented into technology, type, and applications. Based on technology, the industry is classified into collision avoidance, navigation, communication, imaging, and propulsion technologies. The navigation technology will witness a high growth over the coming years as the information, such as the location of vehicles, is necessary for safe operation and recovery. The technology is essential for achieving an accurate underwater mission completion. The navigation of AUVs is improved with the help of an underwater acoustic positioning system, which is a tracking system for underwater vehicles and divers with the help of acoustic distance measurements.

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The Asia Pacific AUV market will witness a high growth owing to its implementation in several regional navy applications. High GDP growth in several countries in the region will create several growth opportunities. Rising awareness regarding the growing security requirements in countries, such as China, India, Japan, and South Korea, has enhanced the adoption of these vehicles. Moreover, the presence of major players, such as Atlas Elektronik GmbH, Lockheed Martin Corporation, and Saab Group in the region, is providing a strong base for the AUV market over the coming years.

Major players operating in the AUV market are Atlas Elektronik GmbH, Saab Group, Bluefin Robotics, Boston Engineering Corporation, Lockheed Martin Corporation, International Submarine Engineering (ISE) Ltd., Oceanserver Technology, Teledyne Technologies, Kongsberg Gruppen, Graal, Inc., Eca Group, and Fugro.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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