Underwater Drone Market to Exceed US$ 12.2 Billion by 2032 With North America at the Forefront | Exclusive Report by Market.us

According to Market.us, The adoption of technology in underwater drones is driving market growth. These drones are in demand for defense and security purposes, exploration of offshore oil and gas reserves, and modernizing military forces due to government initiatives.


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.

Automation Identification System Market

To get additional highlights on major revenue-generating segments, Request an Underwater Drone Market sample report at https://market.us/report/underwater-drone-market/request-sample/

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.

To understand how our report can bring a difference to your business strategy, Inquire about a brochure at https://market.us/report/underwater-drone-market/#inquiry

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.

Have Queries? Speak to an expert or Click Here To Download/Request a Sample

Scope of the Report

Report AttributeDetails
Market Value (2022)USD 3.9 Billion
Market Size (2032)USD 12.2 Billion
CAGR (from 2023 to 2032)12.4%
North America Revenue Share38.8%
Historic Period2016 to 2022
Base Year2022
Forecast Year2023 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.

Grow your profit margin with Market.us - Purchase This Premium Report at https://market.us/purchase-report/?report_id=99093

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.

For more insights on the historical and Forecast market data from 2016 to 2032 - download a sample report at https://market.us/report/underwater-drone-market/request-sample/

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

Browse More Related Reports:

  • Drone Autopilots Market size was valued at USD 732.31 Million in 2022 and is projected to reach USD 1154.24 Million by 2033, growing at a CAGR of 7.11% from 2023 to 2033.
  • Drone Market was valued at USD 58.9 Billion in 2022 and is projected to reach USD 153.53 Billion by 2033, at a CAGR of 9.1%. 
  • Commercial Drone market size is projected to reach a valuation of USD 171.583 Billion by 2032 at a CAGR of 24.4%, from USD 15.540 billion in 2021.
  • Agriculture Drone Market size is expected to be worth around USD 11.6 Billion by 2032 from USD 1.7 Billion in 2022, growing at a CAGR of 21.2% during the forecast period 2023 to 2032.
  • Drone analytics market was valued at USD 5,269.4 million by 2021. This number will increase at a CAGR of 23% between 2023-2032.
  • Warehouse Robotics Market was valued at USD 5.5 billion in 2022 and expected to grow around USD 19.2 billion by 2032, at a CAGR of 13.3% during the forecast period of 2023 to 2032.

About Us:

Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.

Follow Us On LinkedIn Facebook Twitter

Our Blog: 

 

 

Coordonnées