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World AUV Market Forecast:
Commercial AUV Demand to see 74% growth over the next 5 years

The latest edition of World AUV Market Forecast is now available. This report shows global AUV demand growing 37% over the 2018-2022 period, with the military sector accounting for 70% of the market. The commercial sector will see the largest growth (74%) – as AUVs continue to be adopted in oil & gas operations.

AUV Units 2018
AUV Demand: Commercial Sector 2013-2022

Key Conclusions:

  • Commercial AUV demand to grow at a 15% CAGR over 2018-2022, driven by rapid growth in Life of Field Inspection. AUVs will help to reduce operational costs, increase safety and lower the environmental impact in the commercial sector
  • Military AUV demand will be the largest market through 2018-2022, accounting for 72% of global unit demand by 2022.
  • The military sector will see demand grow at a 10% CAGR over 2018-2022
  • The research sector will account for 25% of global AUV demand by 2022, but will see limited growth over the forecast
  • Development of subsea hosting and subsea intervention technology will drive demand for the oil and gas applications over the forecast
  • Increased capability of AUV batteries and propulsion systems will allow AUVs to explore more extreme environments with a reduced environmental impact

Historically, the military has been the largest market for AUVs and this will continue to be the case through the forecast. The sector is expected to grow at a 10% CAGR over 2018-2022. Research will also account for a significant market share, as increasing environmental awareness and scientific interest in understanding the world’s oceans drives demand in the sector. Growth in the Research sector will be limited to a 3% CAGR over the forecast period – attributed to smaller AUV fleet sizes required for projects.

The commercial sector, despite accounting for a relatively small share of the market, will see a significant demand increase of 74% from 2018 to 2022. As operators continue to move into deeper waters, Westwood anticipates a notable uptake in AUV utilisation for oil & gas operations. New subsea-hosted AUVs (currently in-development) will allow for more cost-effective inspections and interventions of subsea infrastructure than an ROV or surface vessel carrying out the work. Other applications such as pipeline inspection, site survey and rig move/hazard survey will see growing demand over the forecast.

For the latest update of World AUV Market Forecast, Westwood has undertaken new analysis on the major AUV manufacturers, their AUV fleets, and key operational sectors. Using Westwood’s in-house AUV database, the report now includes a more detailed competitive landscape chapter.