IMARC Group has recently released a new research study “Underwater Drone Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the Underwater Drone Industry?
The global underwater drone market size reached US$ 3.24 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 6.77 Billion by 2027, exhibiting a growth rate (CAGR) of 12.50% during 2022-2027.
What is a Underwater Drone?
Underwater drone represents unmanned underwater vehicles that are capable of carrying out underwater oceanographic activities without a human occupant. They are available in numerous types, including remotely operated vehicles (ROV) autonomous underwater vehicles (AUV), hybrid vehicles, etc.
Underwater drone variants are typically equipped with high-resolution cameras, superior manipulators, state-of-the-art propulsion systems, and highly sensitive sound, navigation, and ranging (SONAR) modules, making them an ideal option for bathymetric measurements and ocean exploration.
They significantly reduce the time required to inspect equipment and other submerged items in the sea and prove highly effective in mapping the sea floor, predicting water-borne accidents, analyzing wave currents and visual dead zones, etc. Consequently, underwater drone models find extensive utilization in defense and security, scientific research, and commercial exploration activities.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What are the major market drivers in the Underwater Drone Market?
The growing adoption of UUVs in deep-water offshore oil and gas exploration projects is primarily driving the underwater drone market. In addition to this, the inflating defense expenses to modernize military forces and the increasing product uptake for security applications are also positively influencing the global market.
Furthermore, the escalating use of AUVs and ROVs for search, recognition, and localization activities is acting as another significant growth-inducing factor. Apart from this, the development of new products integrated with artificial intelligence (AI) and machine learning (ML) and the launch of energy-efficient underwater drones are further catalyzing the market growth.
Moreover, the introduction of comprehensive research and development (R&D) activities, the expanding digitization, and the rising commercial aquaculture ventures for underwater farms are expected to bolster the underwater drone market over the forecasted period.
| Underwater Drone Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2021 | US$ 3.24 Billion |
| Market forecast in 2027 | US$ 6.77 Billion |
| Growth Rate | CAGR of 12.50% from 2022 to 2027 |
| Base year for estimation | 2021 |
| Historical data | 2016-2021 |
| Forecast period | 2022-2027 |
| Report coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends |
| Segments covered | Type, Propulsion System And Application |
| Regional scope | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Key companies profiled | ATLAS ELEKTRONIK GmbH (thyssenkrupp AG), Blueye Robotics, Deep Ocean Engineering Inc., Deep Trekker Inc. (Halma plc), General Dynamics Corporation, iBubble, Kongsberg Gruppen ASA, Lockheed Martin Corporation, Oceaneering International Inc., Saab Seaeye Limited (Saab AB), Teledyne Marine (Teledyne Technologies Incorporated) and The Boeing Company. |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Type:
· Remotely Operated Vehicle (ROV)
· Autonomous Underwater Vehicles (AUV)
· Hybrid Vehicles
Breakup by Product Type:
· Micro
· Small and Medium
· Light Work-Class
· Heavy Work-Class
Breakup by Propulsion System:
· Electric System
· Mechanical System
· Hybrid System
Breakup by Application:
· Defence and Security
· Scientific Research
· Commercial Exploration
· Others
By Geography:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom,
Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia,
Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
List of Major Key Players:
The competitive landscape of the industry has
ATLAS ELEKTRONIK GmbH (thyssenkrupp AG)
Blueye Robotics, Deep Ocean Engineering Inc.
Deep Trekker Inc. (Halma plc)
General Dynamics Corporation
iBubble, Kongsberg Gruppen ASA
Lockheed Martin Corporation, Oceaneering International Inc.
Saab Seaeye Limited (Saab AB)
Teledyne Marine (Teledyne Technologies Incorporated)
and The Boeing Company.
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