Underwater Robotics Market - By Type (Autonomous Underwater Vehicles And Remotely Operated Vehicles), By Application (Scientific Research, Commercial Exploration, Homeland Security, And Others), By End-Use Industry (Military & Defense, Gas & Oil, And Others), And By Region - Global Industry Perspective, Comprehensive Analysis, And Forecast 2020 – 2026

Global Underwater Robotics market accrued earnings worth approximately 3.25 (USD Billion) in 2019 and is set to record a CAGR of more than 13.48% over the period from 2020 to 2026

31-Aug-2020 | Number of pages: 110 | Report Code: ZMR-3955 | Report Format : | Status : Published

Abstract

The global Underwater Robotics market accrued earnings worth approximately 3.25 (USD Billion) in 2019 and is set to record a CAGR of more than 13.48% over the period from 2020 to 2026. The report offers assessment and analysis of the Underwater Robotics market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).

Introduction

Underwater robots travel beneath water without requirement of an operator. These robots can be used in ocean wars for exploring and terminating mines that are beneath the water. Citing in instance, REMUS is a long robot have been manufactured by Hybrid Incorporation – a spin off firm of Kongsberg Maritime. Apparently, these products also find use in in underwater archaeology and marine biology as well as oceanology for finding new kind of aquatic plants, herbs, and animals. It can also detect sunk ships and play a key part in influencing the growth of offshore market.  This electronic device is fitted with a video camera & light for getting view of the sea-depths.  Additional instruments embedded in the underwater robots include magnetometers, sonars, manipulator, equipment measuring density of water & its clarity, and sound velocity.

Market Growth Dynamics

The growth of the market over the estimated timespan can be attributed to its ability to perform operations like surveying & searching in waters, device repairing, inspecting, cable laying, and critical analysis. In addition to this, the product can interact with operator by creating sounds beneath water and even via satellite signals. Apparently, escalating product requirement in military & defense sector for monitoring of underwater activities will accentuate the growth of underwater robotics industry in the foreseeable future.

Furthermore, surge in the awareness pertaining to advanced imaging systems and increase in the funding for research projects regarding production of unmanned underwater vehicles will create new growth avenues for the market over the forthcoming timespan.

Asia Pacific Market To Register Highest CAGR Over 2020-2026

The growth of the market in Asia Pacific over the forecast timeline is owing to huge investments in self-driven marine vehicles in the countries like Australia, Japan, and South Korea. In addition to this, massive utility of the product in defense and Commercial Exploration exploration programs will further prop up the business growth over the projected timespan.

Key players profiled in the report include Soil Machine Dynamics Ltd., Schilling Robotics LLC, Deep Ocean Engineering Inc., Bluefin Robotics Corporation, ATLAS MARIDAN Aps, Saab AB, International Submarine Engineering, Oceaneering International, Inc., Inuktun Services Ltd., and ECA Group.

The global underwater robotics market is segmented as follows:

By Type:

  • Autonomous Underwater Vehicles
  • Remotely Operated Vehicles

By End-Use Industry:

  • Military and Defense
  • Gas and Oil
  • Others

By Application:

  • Scientific Research
  • Commercial Exploration
  • Homeland Security
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Frequently Asked Questions

Escalating need for power in industries will contribute notably towards the waste heat boiler industry growth during forecast timespan.

The CAGR of the industry is expected to be over 7% during the forecast timeline.

Asia Pacific region will contribute lucratively towards the global market value over the estimated timeline.

The key market participants include General Electric, Thermax, Siemens, Amec Foster Wheeler, CMI Group, and Nooter/Eriksen.


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