Global Underwater Drone Market Report 2022 to 2027: Industry Trends, Share, Size, Growth, Opportunities and Forecasts - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 11, 2023--
The “Underwater Drone Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global underwater drone market size reached US$ 3.24 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 6.77 Billion by 2027, exhibiting a CAGR of 13.07% during 2021-2027.
- ATLAS ELEKTRONIK GmbH (thyssenkrupp AG)
- Blueye Robotics
- Deep Ocean Engineering Inc.
- Deep Trekker Inc. (Halma plc)
- General Dynamics Corporation
- Kongsberg Gruppen ASA
- Lockheed Martin Corporation
- Oceaneering International Inc.
- Saab Seaeye Limited (Saab AB)
- Teledyne Marine (Teledyne Technologies Incorporated)
- The Boeing Company
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
An underwater drone refers to an unmanned underwater vehicle (UUV), that is capable of carrying out oceanographic activities underwater without a human occupant or operator. These vehicles are either controlled throughout their operations by a distant human operator or are operated autonomously without any real-time human inputs.
They are typically equipped with high-resolution cameras, superior manipulators, sophisticated propulsion systems, and highly sensitive SONAR, making them an ideal option for ocean exploration and bathymetric measurements. Additionally, they significantly reduce the timelines required to inspect equipment and other submerged items in the sea.
This results in the extensive usage of these drones for underwater surveys, which include detecting obstructions, wrecks and rocks submerged in the sea, mapping the sea floor, analyzing wave currents and visual dead zones, and predicting waterborne accidents, such as tsunamis.
The market is majorly driven by the augmenting adoption of UUVs in deep-water offshore oil and gas exploration activities. This can be attributed to the augmenting demand for energy across the globe. In line with this, a considerable rise in defense expenses to modernize military forces is resulting in a higher product uptake for defense and security applications.
Moreover, the expanding applications of automated unmanned vehicles (AUVs) and remotely operated vehicles (ROVs) in search, recognition, and localization applications are providing an impetus to the market growth. Besides this, the rapid utilization of underwater drones in oceanographic research activities is creating lucrative growth opportunities.
The market is further driven by continual product innovations, such as the incorporation of artificial intelligence (AI) and machine learning (ML), and the advent of energy-efficient underwater drones. Some of the other factors creating a positive outlook for the market include rapid digitization, commercial aquaculture ventures for underwater farms, inflating disposable income levels, and extensive research and development (R&D) activities conducted by key players.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global underwater drone market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, product type, propulsion system and application.
Breakup by Type:
- Remotely Operated Vehicle (ROV)
- Autonomous Underwater Vehicles (AUV)
- Hybrid Vehicles
Breakup by Product Type:
- 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
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Key Questions Answered in This Report:
- How has the global underwater drone market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global underwater drone market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the propulsion system?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global underwater drone market and who are the key players?
- What is the degree of competition in the industry?
For more information about this report visit https://www.researchandmarkets.com/r/y9jkou
View source version on businesswire.com:https://www.businesswire.com/news/home/20230111005637/en/
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SOURCE: Research and Markets
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PUB: 01/11/2023 09:30 AM/DISC: 01/11/2023 09:31 AM