Industry Analysis & Industry Trends
The Autonomous Underwater Vehicle (AUV) Manufacturing industry is dominated by a few small firms. AUVs have historically been used for a limited number of tasks due to the technology available. However, as uses are increasing with better technology, the industry is growing rapidly. Strong revenue growth will continue over the next five years as AUVs are increasingly used in commercial scenarios.... purchase to read more
Industry Report - Industry Analysis Chapter
The Autonomous Underwater Vehicle (AUV) Manufacturing industry is a relatively young industry. First developed in the 1960s, the industry recorded its first sale in 1985. Since then, the industry has experienced strong growth as AUV usage has expanded to more commercial applications. In particular, AUV systems are increasingly being used by oil and gas industries for offshore drilling purposes. In the five years to 2014, IBISWorld estimates that industry revenue will increase at an average annual rate of 12.7% to $174.2 million. This includes projected growth of 8.1% in 2014.
Underwater vehicles can be broadly classified into manned and unmanned systems. AUVs are a type of unmanned submersible vessel that contains its own power source and accomplishes a predefined task... purchase to read more