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Autonomous Marine vehicles Global market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Autonomous Marine Vehicles Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The autonomous marine vehicles market size is expected to see rapid growth in the next few years. It will grow to $5.72 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%.” - The Business Research Company
LONDON, GREATER LONDON, UK, July 19, 2024 /EINPresswire / -- The autonomous marine vehicles market has experienced robust growth in recent years, expanding from $2.68 billion in 2023 to $3.11 billion in 2024 at a compound annual growth rate (CAGR) of 16.2%. The growth in the historic period can be attributed to strong economic growth in emerging markets, an increase in military expenditure, and an increase in focus on unmanned platforms.
Strong Future Growth Anticipated
The autonomous marine vehicles market is projected to continue its strong growth, reaching $5.72 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%. The growth in the forecast period can be attributed to the increasing government support, increasing advancements in technology, rise in oceanographic surveys and increasing defense expenditure will drive the growth.
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Growth Driver Of The Autonomous Marine Vehicles Market
The increasing oil and gas industry is expected to propel the growth of the autonomous marine vehicles market going forward. The oil and gas industry, also known as the energy sector or petroleum industry, is a multifaceted sector that encompasses various activities related to the exploration, extraction, production, refining, transportation, distribution, and marketing of hydrocarbon-based resources, primarily crude oil and natural gas. The oil and gas industry heavily relies on underwater infrastructure, including pipelines, wellheads, and subsea installations. AMVs equipped with advanced sensors and imaging technologies are used for inspecting and maintaining these critical assets, ensuring their integrity and minimizing environmental risks.
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Major Players And Market Trends
Key players in the autonomous marine vehicles market include L3Harris Technologies, Inc., BAE Systems, General Dynamics (Bluefin Robotics), Kongsberg, Saab AB, Rafael Advanced Defense Systems Ltd., Textron Inc., Huntington Ingalls Industries, Teledyne Technologies, Inc., Atlas Elektronik, Daewoo Shipbuilding & Marine Engineering Co..
Major companies operating in the autonomous marine vehicles market are launching homing and docking solutions such as the Torpedo Tube Launch and Recovery (TTL&R) to launch and recover an autonomous underwater vehicle (AUV) from an underway submarine. Torpedo Tube Launch and Recovery (TTL&R) is a system or method developed to launch and recover an autonomous underwater vehicle (AUV) from an underway submarine using it leveraging its proven Iver4 AUV technology.
Segments:
1) By Type: Surface Vehicle, Underwater Vehicle
2) By Technology: Imaging, Navigation, Communication, Collision Avoidance, Propulsion
3) By Application: Military And Defense, Archeological, Exploration, Oil And Gas, Environmental Protection And Monitoring, Search And Salvage Operations, Oceanography
Geographical Insights: North America Leading The Market
North America was the largest region in the autonomous marine vehicles market in 2023. Middle East was the second largest region in the global autonomous marine vehicles market share. The regions covered in the autonomous marine vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Autonomous Marine Vehicles Market Definition
Autonomous marine vehicles are robotic equipment that travels below or on the surface of the water without requiring input from a human operator.
Autonomous Marine Vehicles Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Autonomous Marine Vehicles Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on autonomous marine vehicles market size , autonomous marine vehicles market drivers and trends, autonomous marine vehicles market major players, autonomous marine vehicles competitors' revenues, autonomous marine vehicles market positioning, and autonomous marine vehicles market growth across geographies. The autonomous marine vehicles market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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