Global underwater drone market size was estimated to be approximately USD 3.355 billion in 2022 which is expected to grow at the rate (CAGR) of 11.89% over the next seven years to attain a value of 6.63 billion by end of 2030. Underwater Drone industry share by Technological Type, Application, Product type and region.
Underwater Drone Market
The global underwater drone market size was estimated to be approximately USD 3.355 billion in 2022 which is expected to grow at the rate (CAGR) of 11.89% over the next seven years to attain a value of 6.63 billion by end of 2030. This report focuses on the underwater drone market, its market drivers, and its challenges. The report also outlines the opportunities available for investors and manufacturers for the underwater drone market, discussing the recent technological developments.
Industrial Revolution 3.0 brought machines into the market, and the current Industry 4.0 evolution enables the development of remote, small, and innovative drones. New features are added to drones regularly aiding in expanding the product line of underwater drones. Underwater drones, also known as unmanned underwater vehicles (UUV) are submersible robots that can function under water with or without remote control, without the need for a human occupant.
The market of underwater drones is accelerating at a positive rate given the increase in demand for surveillance, intelligence, and data gathering, due to developments in automation, big data, and analytics. Institutes and companies are using these drones to map the ocean floor for research as well as commercial purposes. Maritime logistics are also employing submerged robots for hull inspection, cleaning, photography, and navigation purposes.
Manpower shortage, political unrest, and increased COVID protocols to boost market growth
Maritime logistics started to opt for robots to cope with the labor shortages, increasing the demand for automated robots to replace labor operations. Given the political unrest, several other countries are anticipating a worldwide war scenario, which can help drive the demand for underwater drones for defense uses. Increased COVID protocols require companies to reduce manpower, and use automated services, to reduce the chances of COVID infection. Another driver contributing to the growth of the global underwater drone market can be the increase in demand for data-driven processes, for improved risk assessment, and forecasting, which is possible by the use of underwater drones.
Security and data sensitivity concerns expected to restrict global market growth
Underwater drones are remote-controlled, or automated by means of programming and software, making it easier to hack and leak sensitive data. This becomes a threat to the privacy of organizations using underwater drones, thereby hampering the market growth.
Increased environmental awareness and affinity towards energy-efficient & green products
Increased global awareness related to green and clean energy alternatives to the conventional ones, provides scope for research and development of renewable source-powered drones. For example, the demand for solar and wind-powered underwater vehicles has increased. Ocean Aero developed underwater drones that utilize these energy sources and can operate for several months without the requirement of recharging. Such innovations will likely bring up new growth avenues for the global underwater drone market.
Communication Issues related to AUV drones
AUV drones being completely automated, communication and navigation become issues. These systems communicate using radio signals, which get absorbed in water at a higher rate in comparison to other mediums such as air and vacuum. Radio signals face difficulties in terms of deep-sea communication, posing an issue for the increased application of AUV submerged drones.
The global underwater drone market is divided on basis of type, application, product type, and region.
By technological type, the underwater drones market can be divided into remotely operated vehicles, autonomous underwater vehicles, and hybrid vehicles. Hybrid vehicles employ both autonomous as well as remote operation technologies. AUV market segment is expected to account for a major portion of the whole underwater drone market, due to Industry 4.0.
By application, the market can be segregated into research purposes, defense requirements, communications between submerged units & surface units, commercial explorations, and others. The current tense worldwide political scenario will increase the demand for defense drones. On the other hand, increased automation in maritime will account for growth in commercial exploration applications of submerged drones.
In regard to product type, the market can be classified as micro-drones, small & medium drones, light work-class drones, and heavy work-class drones. It is difficult to predict the demands in product type segmentation given the uncertainty of COVID-19 and the continuous evolution of industries and technologies, changing processes worldwide.
|Report Attributes||Report Details|
|Report Name||Underwater Drone Market Research Report|
|Market Size in 2021||USD 3.355 Billion|
|Market Forecast in 2030||USD 6.63 Billion|
|Compound Annual Growth Rate||CAGR of 11.89%|
|Number of Pages||180|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Key Companies Covered||Chasing, Blueeye Robotics, Robosea, Notilo Plus, Navatics, PowerVision, ECA Group, Deep trekker Inc. and others. These companies manufacture products that give tough competition to others and are in high demand in the underwater drone market. A few new startups have also emerged, that provide a comparative advantage in regards to cost. These are Terradepth, ecoSUB Robotics, Eelume AS, Nido Robotics, and Neptune Robotics.|
|Segments Covered||By Technological Type, By Application, By Product type and By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)|
|Countries Covered||North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
|Historical Year||2016 to 2020|
|Forecast Year||2022 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Europe and North America regions expected to witness substantial growth during forecast period
In current times, Europe and North America are the markets with a high demand in the global underwater drone market. The presence of several software & data processing companies in these regions and the increased demand for ocean exploration accounts for a significant share of the market in these regions for underwater drones.
Asia Pacific region is following pursuit to enter the western big players of the underwater drone market. China's target to establish a minimum of 40 innovation centers propelled by automation and robotics helps in increasing the supply and demand for underwater drones in this region. The Middle East and Africa are still considered to have the smallest market for underwater drones.
Well-established companies that have a large share in the global underwater drone market are Chasing, Blueeye Robotics, Robosea, Notilo Plus, Navatics, PowerVision, ECA Group, Deep trekker Inc. and others. These companies manufacture products that give tough competition to others and are in high demand in the underwater drone market. A few new startups have also emerged, that provide a comparative advantage in regards to cost. These are Terradepth, ecoSUB Robotics, Eelume AS, Nido Robotics, and Neptune Robotics.
By Technological Type
By Product type
The global underwater drone market is projected to expand notably owing to surge in demand for data-driven processes and need for improving risk assessment and forecasting.
According to study, the global underwater drone market size was worth around USD 3.35 billion in 2021 and is predicted to grow to around USD 8.89 billion in 2030 with a compound annual growth rate (CAGR) of roughly 11.89% between 2022 and 2030.
The global underwater drone market is anticipated to be dominated by the Europe and North America in the coming years owing to large-scale demand for sea exploration activities. In addition to this, massive presence of data processing and software firms in these regions will expand the scope of regional market growth.
The global underwater drone market is led by players like General Dynamics Corporation, Deep trekker Inc., The Boeing Company, Blueeye Robotics, Navatics, ROBOSEA, Notilo Plus, Eelume AS, Neptune Robotics, Terradepth, Inc., Deep Ocean Engineering, Inc., ecoSUB Robotics Limited, Nido Robotics, and Lockheed Martin Corporation.
Global underwater drone market size was estimated to be approximately USD 3.355 billion in 2022 which is expected to grow at the rate (CAGR) of 11.89% over the next seven years to attain a value of 6.63 billion by end of 2030.