Published on : Aug 16, 2016
ALBANY, New York, August 16, 2016: ResearchMoz.us has announced the addition of a new report titled “Global Automatic Underwater Vehicle (AUV) Market: Trends, Opportunities and Forecasts (2016-2021) (By Value - UUVs, ROVs, AUVs; AUV Market By Region - North America, Europe, Latin America, Asia Pacific, Middle East & Africa: Key Players: Recommendations)”. This study presents a thorough evaluation of the market for automatic underwater vehicles and is an amalgamation of both primary and secondary research.
The report familiarizes readers with new and advanced products being introduced and the most lucrative regions in the market. Qualitative as well as quantitative information on the global automatic underwater vehicle market has been encapsulated in this study. Comprehensive information on the key indicators affecting the development of the market during the forecast horizon between 2016 and 2021 also forms an integral part of this study. The market has also been analyzed for the historical period of 2011 to 2015.
The introduction section of this report presents an overview of the market for automatic underwater vehicles. This section encapsulates the current size of the market and its predicted growth by the end of 2021. The global automatic underwater vehicles market is predicted to rise at a remarkable 15.50% CAGR between 2016 and 2021.
The next part of the study presents the segmentation of the market. In terms of value, the report segments the market into automatic underwater vehicles (AUV), remotely operated vehicles (ROV), underwater unmanned vehicle (UUV). In terms of application, the report categorizes the automatic underwater vehicle market into defense, scientific, and commercial sectors. Of these, the sector of defense is poised to lead the market, accounting for a share of 49% in 2015.
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Geographically, the report segments the market into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. Amongst these, Africa and Latin America are predicted to witness the highest development in the market due to the increasing deep water oil and gas activities in these areas. On the other hand, the demand for automatic underwater vehicles in Asia Pacific will be high owing to rising military investments in China and increasing research activities in Japan.
The prime factors impacting the development of the automatic underwater vehicle market have been highlighted in the report. The increasing need for energy and growing employment rate of automatic underwater vehicles in scientific and defense research will boost the growth of the market. In addition, the rising demand for sub-sea data will provide impetus to the development of this market. Furthermore, the increasing preference for light-weight and small automatic underwater vehicles in the oil and gas industry is a key trend seen in the market.
However, strict regulations posed by governments globally on oil and gas leaks and the high cost of installation of automatic underwater vehicles may negatively impact the growth of the market. In addition, water contamination caused due to these vehicles may restrain the development of this market, as stated in this study.
The prime companies operating in the market are Kongsberg Gruppen ASA, Teledyne Technologies Inc., Oceaneering International Inc., Subsea 7, FUGRO, Boston Engineering, and Lockheed Martin Corporation, among others.
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