49% Growth in AUV Demand by 2020

Douglas-Westwood’s World AUV Market Forecast 2016-2020 considers the prospective demand for autonomous underwater vehicles (AUVs) in the commercial, military and research sectors over the next five years. Demand for units is expected to increase over the forecast period at a compound annual growth rate (CAGR) of 10%, with every sector seeing positive growth due to increased utilisation of the technology. The military is expected to remain the greatest user of AUVs with demand in 2020 for over 700 units – 73% of total demand. Research will be the second largest sector – representing 22% – while the commercial sector will account for 4% of AUV unit demand.

The greatest growth in AUV usage is expected in the commercial sector, predominately from oil & gas operators – despite the volatility of oil prices. There has been substantial interest from oil & gas companies in the technology, as operators have begun to understand cost saving potentials. However, low oil prices have reduced budgets and stymied investment in research and development – presenting a barrier to growth over the forecast.

Targeting Oil & Gas and Renewables

Autonomous Underwater Vehicles (AUVs) have evolved in the last few years from an emerging technology with niche uses, to a viable solution and established part of operations in various marine sectors. There are a number of companies within the industry that have developed strong reputations as reliable providers to the military but there is still potential for further growth. AUV usage remains niche in sectors such as oil & gas and renewables and AUV manufacturers are clearly targeting growth in these markets – new technology and concepts are consistently arriving to push the use of autonomous underwater vehicles.

DW’s AUV forecast has been derived through a combination of bottom up, data driven modelling and extensive industry consultation with manufacturers, operators and research companies. This ensures the report is comprehensive and accurate, reflecting current conditions across the entire AUV industry.

This year’s edition includes in-depth profiles of new technologies and concepts currently under development. The report also includes analysis of key drivers and a comprehensive view of both areas of growth and potential issues which may impact the market.

DW’s 6th edition of the World AUV Market Forecast covers key commercial themes relevant to companies across the value chain in all AUV sectors.