New York, April 06, 2023 (GLOBE NEWSWIRE) -- The Global Underwater Drone Market was worth USD 3.9 billion. This market is expected to record the highest CAGR at 12.4% and will reach USD 12.2 Billion by 2032. These underwater drones are capable of functioning under the water without any human occupants. Underwater drones are divided into two categories: ROVs, also called remotely operated vehicles, and AUVs, which are also called autonomous underwater vehicles. The AUVs do not need any real-time human input and can operate automatically. And the ROVs drones are operated by a distant human operator. The market growth is driven by the continuous integration of advanced technologies in underwater drones, such as superior manipulator arms, high-resolution cameras, etc., which have created many market opportunities.
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Key Takeaway:
- By type, the remotely operated underwater vehicle segment generated the highest revenue in the global underwater drone market share in 2022.
- By product type, the heavy work class segment is dominating the market with a 38% share over the forecast period 2023 to 2032.
- In 2022, North America dominated the market with the highest revenue share of 38.8%.
- Asia Pacific held the second-largest market share in 2022.
The increase in the demand for underwater drones for defense and security, exploration of deep water offshore oil and gas, and the demand for the product to modernize military forces by the government are the main drivers of the market. However, problems such as communication problems which are associated with AUVs, are the primary market restraint.
Factors Affecting the Growth of the Underwater Drone Market
There are several factors that can affect the growth of the Underwater Drone Market. Some of these factors include:
- The advancement in technologies: The rise in the adoption of technologies in underwater drones is the major trend for the growth of the market.
- Increasing demand in defense and security: The underwater drone can be used for underwater investigations, monitoring, and gathering information in defense and security applications which will drive the development of the market.
- Increasing demand for oil and gas production: The rise in the demand for deepwater oil and gas production will drive the market's growth. Some key players in oil and gas production, such as Shell, have been using underwater drones to observe and discover oil wells.
- Lack of effective communication: Due to the distortion of the information under the water, communication, and signal transmission is the major problem in the underwater drone market, affecting the market's expansion.
- High cost of laser communication system: Due to its high rate, the adoption rate of laser communication systems has decreased, which has resulted in restraining the market's growth.
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Top Trends in Global Underwater Drone Market
The rise in the adoption of underwater drones for deepwater exploration drives the market's growth. The market is driven by continuous product innovation and artificial intelligence and machine learning integration in underwater drones. The rise in the application of the AUVs and ROVs is also a factor in fueling the market's expansion. The defense and the navy departments are investing in underwater drones for various missions and applications. The maritime security threats experienced by the primary defense forces worldwide, such as underwater mines, torpedo threats, short-range anti-ship missiles, etc., are driving the market's growth.
Market Growth
The advanced technologies and integration of the technologies in the underwater drone are driving the market's growth. The rise in the demand for underwater drones for the security and defense system of countries to detect different types of threats is the factor driving the growth of the market. In addition, the application of the underwater drone in the commercial sector for oil and gas production is driving the development of the market.
Regional Analysis
North America holds the largest market share and dominates the growth of the market during the forecasted period. The growth of the market is also anticipated with the rise in the use of AUVs for deep water exploration for oil and gas production. The rise in the demand for ROVs in the commercial and defense sectors is the major factor driving the growth of the market in the region. The APAC region is anticipated to witness significant growth during the forecasted period. The rise in investments in the defense sector from several countries, such as India, China, Japan, etc., is driving the growth of the market in the region. The countries have increased their budgets for defense and the adoption of underwater drones for naval operations.
Competitive Landscape
Companies are heavily investing in research and development activities for the development of the underwater drone market. The major key players in the market are focusing on the expansion of their business through contracts with the defense forces of several countries. And are also focusing on solving the problem of lack of effective communication, which will eventually drive the growth of the market.
Recent Development of the Underwater Drone Market
- The Norwegian Defence material industry collaborated with Kongsberg Defense and Aerospace in June 2022. This collaboration was done to improve the combat system of the Skjold class ship as a part of a lifetime extension.
- Aker Arctic, a design, engineering, development, and consulting company, signed a contract with Kongsberg Maritime in June 2022. The KM will supply shafts and propellers for the newly built corvette ships in this collaboration.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 3.9 Billion |
| Market Size (2032) | USD 12.2 Billion |
| CAGR (from 2023 to 2032) | 12.4% |
| North America Revenue Share | 38.8% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The rise in the demand for deepwater oil and gas production drives the market's growth. Some key players in oil and gas production, such as Shell, have succeeded in the deep water well exploration projects, which discovered oil wells that were 400 feet deep. Underwater drones have also increased in many commercial applications such as seabed imaging, seafloor mapping, etc. The growth in the demand for deepwater exploration will drive the growth of the underwater drone market. In addition, the underwater drone can be used for underwater investigations, monitoring, and gathering information in defense and security applications. Using underwater drones in defense and security applications is also helping the market's development. These drones are beneficial for performing risky tasks under the water without human interference. These are the factor driving the growth of the market.
Market Restraints
The major factor restraining the market's growth is communication and signal transmission. The uses and the communication establishment are based on acoustic wave transmission, which delays up to two seconds, and can cause slow movement. Due to the distortion of the information under the water, communication, and signal transmission are major problems in the underwater drone market. The solution to the problem is the laser communication system, but the adoption rate of this system has decreased due to its high cost. These are the main factors that are restraining the growth of the market.
Market Opportunities
Previously the militaries used to use underwater drones for various applications such as seabed mapping, inspection, and security. But due to technological advancement, underwater drones are used for dangerous missions such as anti-submarine warfare and mine disposal. The rise in the demand for underwater drones for mine disposal and anti-submarine warfare operations is a major opportunity for market growth. Therefore, these are the main opportunities to fuel the market's growth.
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Report Segmentation of the Underwater Drone Market
Type Insight
The (ROV) remotely operated underwater vehicles segment holds the largest market share and dominates the market's growth. The ROVs are the most common segment used for critical missions and are the best for unpredictable and rough terrains. Therefore, the autonomous underwater vehicle (AUV) segment will grow significantly during the forecasted period. The major players in the market are focusing on the research and development of AUVs, which can increase the efficiency of the vehicle and decrease human interference.
Product Type Insight
The Heavy work class segment holds the largest market share and dominates the growth of the market. The heavy work class vehicles are featured with some of the advanced technologies like communication systems, navigation & positioning system, and a wide range of systems. The high capacity underwater drones are used for deepwater surveys. The market can see significant growth with greener technologies and by meeting pollution norms in the heavy work class. These heavy work class vehicles are used for deepwater surveys, with improved efficiency and decreased downtime. It can also be used for extreme lifting. The small vehicle segment will grow due to the increased use in applications such as monitoring and observations of the water column and benthic zones. Therefore, the small vehicle segment will grow significantly during the forecasted period.
Propulsion System Insight
The electric system segment holds the largest market share and dominates the market's growth. Autonomous underwater vehicles don’t need any external power. They carry their own energy source. Autonomous underwater vehicles (AUVs) do not need any complex support system. Therefore, the mechanical segment can see significant growth during the forecasted period. The manufacturing of various AUV components, designing, and prototyping are the factors responsible for the segment's growth.
Application Insight
The defense security segment holds the largest market share and dominates the market's growth. Due to the rise in the use of unmanned underwater drones in the defense forces for detecting maritime security threats such as seabed mines, submarine warfare, anti-submarine missiles, etc., the segment's growth has been observed. Some of the major key players in the market are focusing on developing advanced vehicles for critical missions. These vehicles are integrated with advanced technologies capable of doing naval operations. The commercial exploration segment will see significant growth during the forecasted period. The increase in the use of underwater drones for commercial applications is fueling the growth of the segment.
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Market Segmentation
By Type
- Remotely Operated Vehicle (ROV)
- Autonomous Underwater Vehicles (AUV)
- Hybrid Vehicles
By Product Type
- Micro
- Small and Medium
- Light Work-Class
- Heavy Work-Class
By Propulsion System
- Electric System
- Mechanical System
- Hybrid System
By Application
- Defense and Security
- Scientific Research
- Commercial Exploration
- Other Applications
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Market Players
- ATLAS ELEKTRONIK GmbH
- Blueye Robotics
- Deep Ocean Engineering Inc.
- Deep Trekker Inc.
- General Dynamics Corporation
- iBubble
- Kongsberg Defense and Aerospace
- Lockheed Martin Corporation
- Oceaneering International Inc.
- Saab Seaeye Limited
- Teledyne Marine
- The Boeing Company
- Other Key Players
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