Autonomous Underwater Vehicle Manufacturing in the US - Market Research Report (2013-2028)
New York, United States
Last Updated: September 2023
NAICS OD4420Revenue
$520.1m
Past 5-Year Growth
Profit
$XX.Xm
Employees
1,787
Businesses
28
Wages
$XXX.Xm
Autonomous Underwater Vehicle Manufacturing in the US industry analysis
Autonomous underwater vehicle (AUV) manufacturers serve several markets, with the most notable being the US government, more specifically, the Department of Defense (DoD). The DoD is an essential downstream client for AUV manufacturers since they provide manufacturers with stability through contracts. The other two clients are research and oil and gas companies, which use AUVs for more commercial applications. During the period, AUV manufacturers have experienced strong demand from all downstream clients, but government contracts and oil and gas companies stood out the most. 2020 was a roadblock for many industries. However, a massive influx of government funds helped revenue boom during the year as demand from other downstream players fell. In the same light, during 2021, as the economy recovered, increased funds from the DoD halted, leaving operators scrambling to find revenue elsewhere. While increased demand in other areas helped to stem the bleeding, the overall drop in revenue during 2021 was massive. Despite this, strong growth across the period supported overall performance, with revenue for AUV manufacturers expected to grow at a CAGR of 4.7% to $520.1 million over the five years to 2023, with a 5.8% increase in 2023 alone, when profit is set to hit 9.7% of revenue.Over the next five years, the AUV Manufacturing industry is forecasted to maintain consistent growth. This growth will be led by heightening military funding for AUV programs and an expected rise in commercial demand for industry products. As the cost of AUVs continues to decline, particularly oil and gas companies are expected to invest more in AUV technology. Thus, revenue for AUV manufacturers is set to grow at an annualized 6.8% CAGR to $723.3 million over the five years to 2028, when profit is expected to reach 10.7% of revenue.
Trends and Insights
- Government spending can make or break the performance of AUV manufacturers; for example, cut allocations from government contracts led to a massive decline in revenue for manufacturers.
- Expanding operations in the oil industry have increased demand for commercial-use AUVs, bolstering the demand from the commercial market.
- New England, by far, makes up the largest share of establishments. The best engineering schools, paired with a high density of tech, make it a desirable location.
- Specialization is essential for this industry; the top five major players make up over 60.0% of industry revenue, exhibiting a lower level of competition.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has grown at a CAGR of 4.7 % over the past five years, to reach an estimated $520.1m in 2023.
Trends and Insights
Rising interest rates have restrained growth towards the end of the period
- In early 2022, the Federal Reserve announced that it would be increasing interest rates across the US economy to try and dial in the rampant, persistent inflation.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
The new period is expected to be marked by an expansion of companies
- This industry is not known for expansions of establishment since most large companies dominate the government contracts since they have proven to be reliable and trustworthy for high-profile programs from the DoD.
Biggest companies in the Autonomous Underwater Vehicle Manufacturing in the US
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
Boeing Co | 82.8 | 7.9 | 9.5 | |
Huntington Ingalls Industries, Inc. | 64.6 | 9.4 | 14.6 | |
General Dynamics Mission Systems | 60.3 | 6.5 | 10.8 |
To view the market share and analysis for all 5 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including AUVs operating in up to 200 meters of water, AUVs operating in between 201 meters and 1,000 meters of water and AUV operating in greater than 1,000 meters of water. AUVs operating in up to 200 meters of water is the largest segment of the Autonomous Underwater Vehicle Manufacturing in the US.
Trends and Insights
AUVs Operating in Up to 200 Meters of Water
- Small, lightweight AUVs are widely utilized by the military for operations in shallow waters, such as mine detection, disarmament, and battlefield preparation.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Space Vehicle & Missile Manufacturing in the US
- Ship Building in the US
Complementors
- Navigational Instrument Manufacturing in the US
- Tugboat & Shipping Navigational Services in the US
International industries
- Global Ship & Boat Building
- Boat Building in Canada
- Boatbuilding and Repair Services in Australia
- Boatbuilding and Repair Services in New Zealand
- Recreational Boat & Yacht Building in the UK
Table of Contents
About this industry
Industry definition
This industry includes companies that manufacture autonomous underwater vehicles (AUVs), which are vessels that travel underwater without an operator and with its own power source. AUVs are used for commercial purposes (mainly in the oil and gas industries), military use and research purposes.
What's included in this industry?
Providing AUV maintenance servicesManufacturing AUVs for depths less than 200mManufacturing AUVs for depths greater than 200mCompanies
Boeing CoHuntington Ingalls Industries, Inc.General Dynamics Mission SystemsPurchase this report to view all 5 major companies in this industry.
Related Terms
AUTONOMOUS UNDERWATER VEHICLE (AUV)TETHERED SUBMERSIBLEREMOTELY OPERATED VEHICLE (ROV)LITTORAL COMBAT SHIP (LCS)Industry Code
NAICS 33451 - Autonomous Underwater Vehicle Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Government spending can make or break the performance of AUV manufacturers; for example, cut allocations from government contracts led to a massive decline in revenue for manu...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Expanding operations in the oil industry have increased demand for commercial-use AUVs, bolstering the demand from the commercial market.
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2023
- Product innovation level
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
New England, by far, makes up the largest share of establishments. The best engineering schools, paired with a high density of tech, make it a desirable location.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each state in 2023
- Number and share of revenue each state accounts for in 2023
- Number and share of wages each state accounts for in 2023
- Number and share of employees in each state in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Specialization is essential for this industry; the top five major players make up over 60.0% of industry revenue, exhibiting a lower level of competition.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
This period was marked by major acquisitions in the top five companies, but increasing interest rates have slowed concentration and M&A activity.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Boeing Co's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Huntington Ingalls Industries, Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of General Dynamics Mission Systems's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for 2 additional companies
Detailed analysis
- Description and key data for Boeing Co, and factors influencing its performance in the industry
- Description and key data for Huntington Ingalls Industries, Inc., and factors influencing its performance in the industry
- Description and key data for General Dynamics Mission Systems, and factors influencing its performance in the industry
- Description, key data and performance trends for 2 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Revenue for operators is shielded somewhat from outside volatility; however, large swings in military budgets can induce volatility.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
High purchase costs have remained throughout the period, as volatility in international markets drove up prices for navigational instrument manufacturers. Global trade market...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Industry Multiples (2016-2021)
- Industry Tax Structure (2016-2021)
- Income Statement (2016-2021)
- Balance Sheet (2016-2021)
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Autonomous Underwater Vehicle Manufacturing in the US industry in United States in 2024?
The market size of the Autonomous Underwater Vehicle Manufacturing in the US industry in United States is $520.1m in 2024.
How many businesses are there in the Autonomous Underwater Vehicle Manufacturing in the US industry in 2023?
There are 28 businesses in the Autonomous Underwater Vehicle Manufacturing in the US industry in United States, which has grown at a CAGR of 10.5 % between 2018 and 2023.
Has the Autonomous Underwater Vehicle Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Autonomous Underwater Vehicle Manufacturing in the US industry in United States has been growing at a CAGR of 4.7 % between 2018 and 2023.
What is the forecast growth of the Autonomous Underwater Vehicle Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Autonomous Underwater Vehicle Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Autonomous Underwater Vehicle Manufacturing in the US market in United States?
The biggest companies operating in the Autonomous Underwater Vehicle Manufacturing market in United States are Boeing Co, Huntington Ingalls Industries, Inc. and General Dynamics Mission Systems
What does the Autonomous Underwater Vehicle Manufacturing in the US in United States include?
Providing AUV maintenance services and Manufacturing AUVs for depths less than 200m are part of the Autonomous Underwater Vehicle Manufacturing in the US industry.
Which companies have the highest market share in the Autonomous Underwater Vehicle Manufacturing in the US in United States?
The company holding the most market share in United States is Boeing Co.
How competitive is the Autonomous Underwater Vehicle Manufacturing in the US industry in United States?
The level of competition is moderate and increasing in the Autonomous Underwater Vehicle Manufacturing in the US industry in United States.
