According to the research report titled ‘Autonomous Underwater Vehicle Market Share, Size, Trends, Industry Analysis Report By Technology; By AUV Type; By Payload; By Application; By Regions - Segment Forecast, 2020 - 2027‘, available with Market Study Report, global autonomous underwater vehicle market is anticipated to reach a valuation of USD 2.10 billion by the year 2027.
 

As per the report findings, increasing research activities in oil & gas industry, and rising public expenditure on marine water surveillance for preserving aquatic life are projected to drive the global autonomous underwater vehicle market growth during the forecast period.
 

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Further, use of autonomous underwater vehicles for creating intricate seabed map assists petroleum and gas enterprises to build pipelines and other facilities. This also improves cost efficiency for installation of submerged floors without harming the underwater environment, thereby, stimulating the growth of global autonomous underwater vehicle market.
 

Besides, autonomous underwater vehicles have various applications over a vast spectrum of tasks like rock formations mapping, identification of shipwrecks, and others that can prove to be hazardous for commercial and recreational navigation ships. These vehicles also find application in tracking illegal trafficking of humans, drugs, and smuggling of products & equipment. Apart from this, they also offer a safe and affordable platform for aqua farmers to easily monitor water quality parameters, further enhancing the global autonomous underwater vehicle market outlook.
 

However, high capital investment requisites, complications associated with establishing connections at deep water levels, and strict government regulations are likely to restrain the global autonomous underwater vehicle market growth in the upcoming years.
 

Based on technology spectrum, global autonomous underwater vehicle market is segmented into communication, navigation, collision avoidance, imagery, and propulsion. With respect to AUV type, the industry is classified into large, medium, and shallow.
 

Speaking of the competitive landscape, leading companies are focusing on new product development by integrating  advanced technologies like AI technologies, NLP, and neural networks in a bid to improve their market stance.
 

Key players operating in global autonomous underwater vehicle market are Bluefin Robotics (General Dynamics Mission Systems, Inc.), Graal, Inc., Lockheed Martin Corporation, Saab AB, International Submarine Engineering, Ltd., Atlas Elektronik GmbH, Oceanserver Technology, Inc., Kongsberg Gruppen ASA, ECA Group, Teledyne Technologies, Inc., Boston Engineering Corporation, and Fugro NV.