In the last five years, the manufacturing sector in autonomous underwater vehicles (AUV) has seen robust growth with a market revenue expected to increase annually to $ 885.4 million from 26.5%.
Initially created in the 1960s, AUVs are submerged vessels that are programmed for the performance of a certain mission.
For monitoring, acknowledgement, anti-submarine and mine control controls, the industry derives the bulk of its revenues from defense and defense markets.
Many AUVs continue to be mostly experimental devices, and the attention of the US military on the product shows a future potential for commercial growth.
In reality, income has risen as the military has retained its emphasis on AUVs amid budget cuts elsewhere.
For the five years leading up to 2020, domestic military spending has risen at an average annualized rate of 3.3 percent.