The global autonomous underwater vehicle (AUV) market is experiencing significant growth. In 2020, the market size was $1.16 billion, and it is projected to reach $4.17 billion by 2028, growing at a CAGR of 17.8% during the 2021-2028 period. North America was the dominant regional market, accounting for 33.62% of the global market share in 2020.

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Autonomous underwater vehicles are unmanned submersible vehicles that can operate autonomously, propelled by various systems like hybrid, mechanical, and electric. They have a wide range of applications, including intelligence, surveillance and reconnaissance (ISR) activities, border protection, scientific research, and the oil and gas industry. AUVs have become valuable tools for seabed mapping and seafloor imaging, allowing the collection of large amounts of data.

The increasing demand for deep-sea exploration in oceanography is a key driver for the growth of the AUV market. Additionally, the rising commercial use of these vehicles by scientists and marine experts globally is also fueling market expansion. For instance, in 2020, the French National Institute for Ocean Science (IFREMER) selected iXblue's subsea technology for its 6000-meter AUVs used in ultra-deep-water surveys and research-related work. These AUVs combine advanced sonar, acoustic positioning, and inertial navigation capabilities.

Top Key Players Covered in Autonomous Underwater Vehicle Market are:

• 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.)

North America has been the dominant regional market, accounting for 33.62% of the global market share in 2020. This can be attributed to the strong presence of major AUV manufacturers, such as Teledyne Marine, Kongsberg Maritime, and Bluefin Robotics, as well as the high adoption of these vehicles for various applications, including military, scientific research, and offshore operations.

The Asia-Pacific region is also expected to witness significant growth during the forecast period, driven by increasing investments in marine exploration, growing defense budgets, and the development of indigenous AUV capabilities, particularly in countries like China, Japan, and India.