Autonomous Underwater Vehicle (AUV) Market is forecasted to grow at a CAGR of 15.49% during 2016 – 2021

Date: 29 July 2016

Rise in offshore drilling activities, increasing demand for Life-of-field Inspections, Technological Advancements, Cost Effective Inspection System, Rising mechanical configuration of AUV’s, High adoption rate of AUVs across application areas in defence & scientific research and offshore oil & gas explorations, are the basic reasons behind increased demand for the Automatic Underwater Vehicles (AUVs).

According to recently published Azoth Analytics report “Global Automatic Underwater Vehicle (AUV) Market: Trends, Opportunities and Forecasts (2016-2021)”, Autonoumous Underwater Vehicle (AUV) Market is forecasted to grow at a CAGR of 15.49% during 2016 – 2021F, on account of rising demand in the oil and gas energy along with significant government-to-government investments into the defence, scientific research and oil and gas sectors. Growing energy needs, emerging economies, high adoption rate of AUVs across application areas in defence & scientific research and offshore oil & gas explorations and increasing defence spending provide the ample growth opportunites for the AUV market to thrive.
Latin America and Africa are expected to experience the highest growth owing to deepwater oil & gas activities in pre-salt areas, Europe will have high growth with North Sea and Norwegian Sea being the major subsea pipeline inspection equipment's market, Demand in Asia will be diverse with deepwater expenditure in India, Indonesia and Malaysia; research activities in Japan, and military investment in China.

The key sectors for the application of AUV in the report are commercial, scientific, and defense. Among all, the defense application is expected to hold the largest share of the market accounting for 49% in 2015.

There has been the growing need for scientific research applications being addressed for oceanography and environmental protection & monitoring, high adoption rate of AUVs across application areas in defence & scientific research and offshore oil & gas explorations; and increasing defence spending has led to increase in demand for AUV. But stringent government regulations regarding oil & gas leaks, Higher Installation Cost, water contamination, environmental & public health is one of the biggest restraints faced by this industry. The level of spending in the government-to-government investments into the defence, scientific research and oil and gas sectors has driven the market.

The report Automatic Underwater Vehicle (AUV) Market: Opportunities and Forecasts (2016-2021)’’ has analysed the potential of Automatic Underwater Vehicle (AUV) Market and provides statistics and information on market size, shares and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the Global Automatic Underwater Vehicle (AUV) Market. Additionally, the report also highlights market entry strategies for various companies across the globe. 
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