Underwater Drone Market Size 2023, Share, Major Players!

 At 12.60% CAGR, Global Underwater Drone Market Size & Share to Surpass US$ 20.84 Billion by 2028 | Industry Trends, Growth, Share, Opportunities, Statistics, Analysis & Forecast Report by IMARC

Global Underwater Drone Market Overview (2023-2028)
• Historical Market Size (2022): US$ 3.7 Billion
• Forecast CAGR (2023-2028):12.37%
• Forecast Market Size (2028): US$ 6.0 Billion

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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.

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.

Report Segmentation:

The report has been segmented the market into following categories:

Read more Underwater Drone Market Size 2023, Share, Major Players, Industry Analysis and Forecasts to 2028

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

Based on the Application , the report finds that the Technology sector dominates the market. There are many ongoing development projects undertaken by various nations, which require a continuous flow of electricity. Owing to this, there is a rising demand for power inverters in this sector.

Regional Insights:

• Asia Pacific
• North America
• Europe
• Middle East and Africa
• Latin America

On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.

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.

𝐊𝐞𝐲 𝐡𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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