12-Dec-2022 | Zion Market Research
The global underwater drone industry size was worth around USD 3.35 billion in 2021 and is predicted to grow around USD 8.89 billion by 2030 with a compound annual growth rate (CAGR) of nearly 11.89% between 2022 and 2030.
Underwater drones are submersible water-proof devices that operate without human occupants and help in capturing the wonders of the ocean. With the emergence of new methods and equipment for warfare, there has been an escalating demand for underwater drones in the defense sector. Furthermore, the embedding of new features in drone technology has further boosted the acceptance of underwater drones. In addition, the onset of artificial intelligence, deep learning, and machine learning technologies has enhanced the popularity of underwater drones across the globe.
Growth of the global underwater drone market over the forecast period can be attributed to technological upgradations in underwater drones. Apart from this, massive demand for deep water offshore exploration activities in oil & gas industry has paved a way for the remarkable expansion of the global industry. Prominent research and development activities related to oceanographic research are anticipated to boost global market trends. Large-scale penetration of artificial intelligence technology in autonomous underwater vehicles has enlarged the scope of growth of the market across the globe.
Growing concerns pertaining to maritime piracy and maritime security & maritime terrorism along with threats to global shipping activities have boosted the demand for underwater drones. Apart from this, the need for monitoring the activities taking place under and on the surface of the sea has provided impetus to the global market.
However, disturbances in signal transmission and underwater communication as well as information distortion can pose a huge challenge to the growth of the global underwater drone market. Nevertheless, the necessity of equipping the military & defense sector with upgraded weapons and equipment has created lucrative growth opportunities for the global industry.
The global underwater drone market is segmented based on technological type, application, product type, and region.
Based on technological type, the global underwater drone market is divided into remotely operated vehicle (ROV), autonomous underwater vehicle (AUV), and hybrid segments. Moreover, the autonomous underwater vehicle (AUV) is anticipated to dominate the global market share, owing to large-scale use of autonomous underwater vehicles in search, identification, and localizing underwater activities.
In terms of application, the global underwater drone industry is divided into research, defense, communication, exploration, and others. Furthermore, the defense segment is predicted to contribute majorly towards the overall market share during the forecast timespan. The growth of the segment over 2022-2030 can be attributed to the large-scale use of underwater drones in defense applications.
For instance, the Navy makes use of submersibles for deactivating mines in the sea. In addition, Japan is planning to manufacture underwater drones for laying and removing sea mines with a view of gaining maritime superiority along with aiding defense operations of its ground, maritime and aerial divisions of the defense sector.
Furthermore, the Asia-Pacific underwater drone industry is predicted to register the fastest growth rate of nearly 12.7% over the forecast period owing to massive procurement and production of underwater drones in the region for enhancing the capabilities of naval forces in countries such as India, Japan, and China. Furthermore, China is developing new extra-large uncrewed underwater drones, both autonomous and manned, for purpose of military use.
Key players profiled in the global underwater drone market include Deep trekker Inc., Blueeye Robotics, Navatics, ROBOSEA, Notilo Plus, Terradepth, Inc., Deep Ocean Engineering, Inc., General Dynamics Corporation, ecoSUB Robotics Limited, Nido Robotics, Eelume AS, Neptune Robotics, The Boeing Company, and Lockheed Martin Corporation.
This review is based on a report by Zion Market Research, titled “Underwater Drone Market By Technological Type (ROV, AUV, And Hybrid), By Application (Research, Defence, Communication, Exploration, And Others), By Product Type (Micro, Small & Medium, Light Work-Class, And Heavy Work-Class), And By Region: Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030
.”- Report at https://www.zionmarketresearch.com/report/underwater-drone-market
The global underwater drone market is segmented as follows:
By Technological Type
By Product type
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