DALLAS, July 20, 2022 (GLOBE NEWSWIRE) -- Global Underwater Robotics Market study by “Data Bridge Market Research” provides details about the market dynamics affecting the Underwater Robotics market, Market scope, Market segmentation, and overlays shadow upon the leading market players highlighting the favorable competitive landscape and trends prevailing over the years. Businesses are highly reliant on the different segments covered in the market research report which gives better insights to drive the business in the right direction. The wide-ranging Global Underwater Robotics Market Report consists of explicit and up-to-date information about the consumer’s demands, their inclinations, and their variable liking of a particular product. This helps businesses map the advertising, promotion, marketing, and sales strategy more profitably and also assists in taking sound and efficient decisions. Market status at the global and regional level of the Underwater Robotics industry is offered through the global Underwater Robotics Market report which helps to gain business insights into the extensive marketplace.
Data Bridge Market Research analyses that the global underwater robotics market is expected to reach USD 8,036.40 million by the year 2029. "Remotely Operated Vehicles (ROV)" accounts for the most prominent type segment in the respective market. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
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Underwater robotics market is primarily driven by rising demand for ROVs in offshore oil and gas industries and its essential need for sea exploration and scientific research. In addition, the applications of underwater robotics for salvage, rescue, and repair operation is fueling the market growth at a rapid rate. However, the high cost of ROVs and AUVs after add-ons and threats related to cyber security act as a restraint on the global underwater robotics market growth
The globalunderwater robotics market competitive landscape provides details of the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus on the Global underwater robotics market.
The leading market players listed in Underwater Robotics Market reports are:
- ATLAS ELEKTRONIK GmbH,
- Deep Ocean Engineering, Inc.,
- General Dynamics Mission Systems, Inc.,
- ECA GROUP,
- International Submarine Engineering Limited,
- Eddyfi, Phoenix International Holdings, Inc.,
- Boeing,
- Soil Machine Dynamics Ltd.,
- MacArtney A/S, Oceaneering International, Inc.,
- VideoRay LLC,
- Saab AB, Forum Energy Technologies, Inc.,
- TechnipFMC plc,
- SUBSEA 7,
- Fugro,
- SeaRobotics Corp.,
- Rovco Ltd, Total Marine Technology Pty Ltd,
- Teledyne Marine,
- KONGSBERG,
- Mitsui E&S Holdings Co., Ltd.,
- Huntington Ingalls Industries, Inc.,
- Deep Trekker Inc.
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Recent Developments
In September 2019, General Dynamics Mission Systems, Inc. launched a new UUV at Defense and Security Equipment International (DSEI) event, Bluefin-12. This machine extends modularity and payload delivery capability for user operations. The company aimed to sell this machine for the long endurance survey purpose in the Global underwater robotics market In January 2021, International Submarine Engineering Limited successfully conducted and completed the second stage of the autonomous dock prototype project. Under this project, the company is trying to provide a platform for an AUV to latch onto a dock while remaining subsea autonomously. This will allow the AUV to charge its batteries and download the data for the operators while remaining underwater. The company is planning to sell the same system to its client for various applications
Key Questions Answered with this Study
- Territory that may see steep rise in CAGR & Y-O-Y growth?
- What geographic region would have better demand for product/services?
- What opportunity emerging territory would offer to established and new entrants in this market?
- Risk side analysis connected with service providers?
- What makes this Market feasible for long term investment?
- Know value chain areas where players can create value?
- How influencing factors driving the demand of this industry in next few years?
- What is the impact analysis of various factors in this market global growth?
- What strategies of big players help them acquire share in mature market?
- How Technology and Customer-Centric Innovation is bringing big Change in this market?
Key Drivers:-
- Increasing use of underwater robotics for military and security purposes
The use of underwater vehicles is increasing in military, navy, and police forces for operations such as intelligence gathering, surveillance and reconnaissance (ISR), mine countermeasures, inspection and identification, oceanography, and payload delivery. This increasing use of ROVs and AUVs is expected to drive the Global underwater robotics market.
- Rising use of ROVs in the oil & gas industries
The increasing functions of ROVs over the years, mainly due to technological advancement and the need to search and explore more offshore reserves of oil and gas, are expected to hoist the growth of the global underwater robotics market.
- Increasing demand for AUVs for underwater exploration and scientific research
Several vehicles are operating successfully in the offshore industries and the applied and academic oceanographic sciences, but the availability of these AUVs at a justifiable rate for the service they offer is a prime factor.
- Growing demand for underwater robotics for search, rescue and repair operation
The constant development of underwater vehicles according to the requirement needed in operations such as search and rescue and underwater repair at remote locations and in hostile conditions is boosting the demand for ROVs, which is expected to act as a driver for the global underwater robotics market.
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Highlights of the Following Key Factors:
Business description
- A detailed description of the company’s operations and business divisions.
Corporate strategy
- Analyst’s summarization of the company’s business strategy.
SWOT Analysis
- A detailed analysis of the company’s strengths, weakness, opportunities and threats.
Company history
- Progression of key events associated with the company.
Major products and services
- A list of major products, services and brands of the company.
Key competitors
- A list of key competitors to the company.
Important locations and subsidiaries
- A list and contact details of key locations and subsidiaries of the company.
Detailed financial ratios for the past 5 years
- The latest financial ratios derived from the annual financial statements published by the company with 5 years’ history.
Segments Covered
By Type (Remotely Operated Vehicles (ROV) and Autonomous Underwater Vehicle (AUV)),
By Working Depth (Shallow, Deep Water and Ultra-Deep Water),
By Task Type (Observation, Survey, Inspection, Construction, Intervention, Burial and Trenching and Others),
By Depth (Less than 1000 Mts, 1000 Mts to 5000 Mts and More than 5000 Mts),
By Component (Light, Camera, Frame, Thrusters, Tethers, Pilot Controls and Others),
By Application (Oil and Gas, Commercial Exploration, Defense and Security, Scientific Research and Others)
Highlights of TOC:
Chapter 1: Market overview
Chapter 2: Global Underwater Robotics Market analysis
Chapter 3: Regional analysis of the Underwater Robotics industry
Chapter 4: Market segmentation based on types and applications
Chapter 5: Revenue analysis based on types and applications
Chapter 6: Market share
Chapter 7: Competitive Landscape
Chapter 8: Drivers, Restraints, Challenges, and Opportunities
Chapter 9: Gross Margin and Price Analysis
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