Publishing: August 2021 | Report Code: SE11920 | Available Format: PDF
Underwater Robotics Market Overview
Underwater robots are autonomous vehicles, which can be operated remotely and are designed to function underwater for continuous surveillance. The increasing adoption of underwater robots in the military and defense and industrial sectors, such as in offshore oil and gas exploration, for drilling, repair, and maintenance, to overcome the limitations of human subsea divers, is one of the key driving factors for underwater robotics market across the world.
Based on type, the underwater robotics market has been bifurcated into remotely-operated vehicle (ROV) and autonomous underwater vehicle (AUV). Between the two, the ROV bifurcation is expected to register faster growth during the forecast period (2020–2030), because of the increasing demand for such vehicles in the deep-sea oil drilling industry. The AUV bifurcation is also projected to register significant growth over the forecast period, due to the rising demand for such robots in defense applications, such as such as detecting submerged wrecks and obstructions that can be a threat to recreational vessels.
On the basis of application, the underwater robotics market has been categorized into defense and security, commercial exploration, scientific research, and others. For instance, in 2019, General Dynamics Mission Systems released an autonomous unmanned underwater vehicle, named Bluefin-12, which is equipped with Bluefin autonomy and embedded intelligence, at Defense and Security Equipment International. AUVs are extremely useful in group mission circumstances and it will increase the modularity, flexibility, and monitoring of missions.
North America is expected to hold the largest revenue share in the global underwater robotics market during the forecast period. The market, however, is predicted to witness the fastest growth in the Asia-Pacific (APAC) region, owing to a rise in the use of underwater robots in the defense sector. The surging investments in autonomous marine vehicles in countries such as China, Japan, India, Australia, and South Korea are expected to drive the industry growth in APAC. The market in Europe is also expected to register significant growth over the forecast period, due to the rising offshore oil and gas exploration activities in the regional countries.
Underwater Robotics Market Dynamics
Considering the increase in the production from off-shore reserves, oil and gas companies are investing heavily in underwater technology to enhance efficiency and productivity of exploration operations. It has enhanced their capabilities to reach previously inaccessible areas and open them up for exploration, as well as efficiently perform maintenance activities. These benefits have led the companies to shift from old fixed production facilities to modern technologies such as ROVs, which has boosted their demand across the globe. The rising investment by governments in the defense sector are also contributing in the growth of underwater robotics market.
Underwater Robotics Market Competitive Landscape
Some of the key players operating in the market are Saab AB, ECA Group, Oceaneering International Inc., ATLAS MARIDAN ApS, Soil Machine Dynamics Ltd., International Submarine Engineering Ltd., Deep Ocean Engineering Inc., Schilling Robotics LLC, Bluefin Robotics Corporation, and Inuktun Services Ltd. To enhance their position in the global underwater robotics market, the key players are increasingly focusing on product launches, innovations, collaborations, partnerships, and mergers and acquisitions. For instance, in October 2018, Norway’s DeepOcean acquired the Texas-based Delta SubSea LLC, thus stretching its presence in the U.S. and Gulf of Mexico region.
The report also provides a country-wise analysis. Some of the major countries covered in the report are the U.S., Canada, the U.K., Germany, France, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Mexico, Brazil, South Africa, Turkey, the U.A.E., and Saudi Arabia.
Underwater Robotics Market Size Breakdown by Segment
The underwater robotics market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Type
Based on Application
Get a bespoke market intelligence solution
Our dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you
Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights
With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required
We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws