The global autonomous underwater vehicles (AUVs) market size was valued at USD 1.16 billion in 2020. The market is forecast to rise from USD 1.33 billion in 2021 to USD 4.17 billion by 2028 at 17.80% CAGR during the 2021-2028 period. Fortune Business Insights™ has deep-dived into these insights in its latest research report, titled, “Autonomous Underwater Vehicles (AUVs) Market, 2021-2028.”

According to an analysis, demand for unmanned submersible vehicles will be pronounced due to rising demand from military and commercial sectors. The technology has become sought-after to boost border patrolling, oil & gas, and scientific approach portfolios. Prominently, the use of the vehicle for sea mapping and seafloor imaging will pick pace over the next few years.

Request a free Sample PDF Brochure:

Drivers and Restraints

Bullish Demand from Defense to Encourage Product Portfolio Expansion

Industry participants expect bullish governments’ policies to foster the autonomous underwater vehicles (AUVs) market growth. The U.S. Navy has exhibited profound traction for AUVs for a host of applications, including intelligence, surveillance & reconnaissance (ISR), mine countermeasures (MCM), anti-submarine warfare (ASW), and inspection/identification (ID). To illustrate, in 2020, the U.S. Naval Sea Systems Command Washington inked around USD 11.1 million contract with Boeing to upgrade naval operations. Besides, the use of autonomous underwater vehicles in ocean exploration activities will augur well for the industry outlook. The IEA projects the demand for natural gas to surge at 1.5% by 2025. A notable rise in oil & gas production across Saudi Arabia, Iran, and Russia will encourage leading companies to invest in AUVs.

Meanwhile, uncertainty and reduced reliability in operational performance in communication systems may not bode well for the industry.

Regional Insights

Asia Pacific to Witness Investment Galore from Oil & Gas Industry

Stakeholders expect the Asia Pacific autonomous underwater vehicles (AUVs) market share to witness significant growth on the back of expanding commercial applications. Emerging economies, such as China and India, are likely to bank on the oil & gas sector. An uptick in exploration activities will expedite the technology adoption. Besides, the expansion of naval forces across Japan, China, Australia, and India will bode well for regional growth.

The North America industry forecast will be strong in the wake of strong governments’ policies on defense and R&D activities. Prominently, the U.S. has augmented the procurement of sophisticated AUVs for ISR operations. The North America market size was valued at around USD 0.39 billion in 2020 and will grow with surging investments in the defense budget.

Industry players are likely to increase their investments in Europe due to rising oil & gas exploration activities. Stakeholders predict the U.K., France, and Germany to provide lucrative investment opportunities. Besides, major OEMs, including Saab AB and Kongsberg Gruppen A.S.A. are slated to bolster their presence across untapped areas. Moreover, the defense sector will also exhibit strong demand for AUVs across the region.

Get a Customized Report

Competitive Landscape

Leading Companies to Infuse Funds into Product Launches to Tap Markets

Industry players are likely to expand their portfolios, including mergers & acquisitions, product rollouts, R&D activities, and technological advancements. The prevailing trends indicate major companies could invest in strategic expansion during the forecast period.

Key Industry Developments

March 2021 – Kongsberg Maritime was awarded a contract to deliver its four autonomous vessels to Norway’s Institute of Marine Research (IMR), which includes two Kongsberg AUVs to facilitate management and monitoring capabilities of marine resources and environments.

August 2021 – L3Harris Technologies demonstrated underwater autonomous capabilities through Iver3, its advanced Autonomous Underwater Vehicles, in collaboration with Marine Tech Systems.

Major Players Profiled in the Market Report:

  • Fugro N.V. (Netherlands)
  • General Dynamics Corporation (U.S.)
  • International Submarine Engineering Ltd. (Canada)
  • Kongsberg Gruppen A.S.A. (Norway)
  • L3Harris Technologies, Inc. (U.S.)
  • Lockheed Martin Corporation (U.S.)
  • Oceaneering International Inc. (U.S.)
  • SAAB AB (Sweden)
  • Teledyne Technologies Inc. (U.S.)
  • Boeing (U.S.)
  • Others

Inquire Before Buying Report

Read Other News:

In-Flight Entertainment & Connectivity Market Trends

In-Flight Entertainment & Connectivity Market Size

In-Flight Entertainment & Connectivity Market Size

In-Flight Entertainment & Connectivity Market Share

In-Flight Entertainment & Connectivity Market Growth

In-Flight Entertainment & Connectivity Market Forecast

In-Flight Entertainment & Connectivity Market Analysis

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.


Contact Us:

Fortune Business Insights Pvt. Ltd.

9th Floor, Icon Tower,

Baner – Mahalunge Road, Baner,

Pune-411045, Maharashtra, India.



US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: [email protected]

Connect us via Social Media Channels:

LinkedIn  Facebook  Twitter Blogs


By Emelia Murison

Emelia Murison is a freelance writer and editor with a passion for innovation and technology. She covers breaking industry news, #SpaceForGood, and product reviews for the group. She also provides copywriting services to startups around the world – one of which introduced her to the world of Aerospace.